Metalworking Fluids MarketSize and Trends

The global metalworking fluids market was valued at US$ 1,230.7 Mnin 2022 in terms of revenue, exhibiting a CAGR of 4.7% during the forecast period (2023 to 2030).

Figure 1. Global Metalworking Fluids Market Value Share (%), By Region, 2022

Figure 2. Global Metalworking Fluids Market Value Share (%), By Application, 2021

On the basis of application in 2022, the removal fluids segment accounted for the largest market share of 49.4%, in terms of value, followed by the forming fluids and protecting fluids segments respectively.

Market Trends

The growing aerospace industry in the North America region is expected to drive the demand for metalworking fluids, and this is attributed to the growing travel and tourism trends. In 2021, the U.S. exported a substantial amount of transportation equipment, including aircraft, helicopters, and aircraft parts. In 2021, the A&D industry exports rose by 11.2 percent to a total value of USD $100.4 billion. From sustainable aviation technologies to defense systems, partners around the world trust U.S.-based companies to provide the best capabilities at the best value.
The establishment of new facilities in machinery and tools by manufacturers for increasing production capacities is a growing trend in the market. This trend is expected to foster the market growth. For instance, in October 2022, CF Industries and ExxonMobil signed the most significant commercial arrangement of its type to capture and permanently store up to 2 million metric tonnes of CO2 emissions yearly from CF Industries' Louisiana manufacturing complex.