According to the latest report by IMARC Group, titled “Forming Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global forming fluids market reached a value of US$ 3.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2027, exhibiting a CAGR of 1.8% during 2022-2027.
Forming fluids are liquids used in various metalworking processes, including folding, stamping, drawing, and wiredrawing. They offer excellent lubrication, possess anti-corrosion properties, and protect shield substrates from nicks and damages during manufacturing and molding. Consequently, forming fluids are extensively used to produce sheet metal and other components with the support of oil-based components and emulsions.
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Forming Fluids Market Trends
The widespread adoption of forming fluids across various industries can be attributed to the increasing demand for high-performance, lightweight, and metalworking fluids for bending, stretching, and shaping operations. This is further facilitated by the rising awareness amongst manufacturers regarding their multiple beneficial properties, such as ensuring product quality, reducing tool wear, and improving productivity. In line with this, the significant growth in the automobile industry has further propelled the need for lightweight vehicles, which, in turn, has facilitated the uptake of forming fluids to manufacture several vehicle metallic parts. Other factors, including rapid industrialization, significant advancements in metal forming processes, and the introduction of soluble oil and semi-synthetic emulsion-infused fluids for providing long-term corrosion resistance, are contributing to the market growth.
Forming Fluids Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
- Chevron Oronite
- Columbia Petro
- Idemitsu Kosan
- Indian Oil
- Total Lubricants USA.
Key Market Segmentation:
The report has segmented the global forming fluids market on the basis of product type, application and region.
Breakup by Product Type:
- Rolling Oils
- Hydroforming Fluids
Breakup by Application:
- Primary Metals
- Transportation Equipment
- Fabricated Metal Products
- Metal Cans
Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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