Market Leader - Metalworking Fluids Market
In terms of value, the metalworking fluids market is estimated to grow from USD 12.2 billion in 2024 to USD 14.7 billion by 2029, at a CAGR of 3.7%. Metalworking fluids market have grown as the demand from automotive industry, and high-performance machinery is mounted immensely worldwide in the last two decades. These factors drive the metalworking fluids market.
The key players profiled in the report include Quaker Houghton (US), Exxon Mobil Corporation (US), BP p.l.c. (UK), TotalEnergies SE (France), FUCHS (Germany), Idemitsu Kosan Co., Ltd. (Japan), Chevron Corporation (US), Chem Arrow Corporation (US), LUKOIL (Russia), China Petroleum & Chemical Corporation (SINOPEC) (China), and Valvoline Inc. (US). These players have adopted various growth strategies to strengthen their position in the market. These include introducing new technologies, acquisitions, and product launches to acquire larger market shares.
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Quaker Houghton, a global leader in industrial process fluids, specializes in manufacturing process fluids for various industries such as steel, aluminium, automotive, aerospace, mining, and more. The company's expertise in metalworking fluids is evident through its innovative solutions tailored to meet the diverse needs of the metalworking industry. It has a robust global presence with operations in over 25 countries, including manufacturing facilities strategically located around the world. With over four thousand employees and a customer base spanning 115 countries, it continues to uphold its mission of delivering innovative and sustainable fluid solutions to a diverse range of industries. It has strategically positioned itself in the metalworking fluid market by merging with Houghton International, expanded its product offerings and market reach, fostering growth opportunities. With a diverse portfolio encompassing various industrial fluids, Quaker Houghton caters to a wide range of sectors, including aerospace, automotive, and steel industries.
Exxon Mobil Corporation is a global specialty oil & gas company and one of the largest companies in standings of revenue generation. The company is a global leader for synthetic oil technology and markets its metalworking fluids products globally with brands under the chemical product segment. It has strong presence globally in more than 160 countries. It operated with three business segments, product solutions, upstream, and corporate & financing. The company owns 6 base stock refineries and 21 blending plants in 25 countries which are present in almost all regions. In November 2023, the company completed the acquisition of Denbury Inc., an experienced developer of carbon capture, utilization, and storage (CCS) solutions and enhanced oil recovery. Utilizing Denbury's expertise in CCS and enhanced oil recovery, ExxonMobil aims to bolster sustainability in metalworking fluids.
Related Reports:
Metalworking Fluids Market by Type (Straight Oils, Soluble Oils, Semi-synthetic Fluids, Synthetic Fluids), Product Type (Removal Fluid, Protecting Fluids, Forming Fluids, Treating Fluids), End-use Industry - Global Forecast to 2029
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