Global Metalworking Fluids Market Projected to Register a CAGR of 3.9% in Terms of Value During 2018-2028

Global Metalworking Fluids Market Dynamics

Metalworking fluids usually suffer from contamination and bacterial growth, which results in their shortened life. Nowadays, companies are developing products that reduce the use of metalworking additives and biocides in metalworking fluids, thereby saving cost without the use of harmful chemicals. For instance, Castrol has launched the new XBB cutting fluid technology, which maintains pH and serves for longer periods of time in comparison to the other cutting fluids. The company also launched Castrol Hysol SL 36 XBB and Castrol Alusol SL 61 XBB, which enabel the use of a lesser amount of additives and biocides, thereby leading to cost savings. Thus, owing to such developments, the demand for metalworking fluids is expected to gain momentum during the forecast period.

According to the National Institute for Occupational Safety and Health (NIOSH), over 1 Million workers in the United States are exposed to metalworking fluids and in Washington, over 20,000 workers use metalworking fluids. These fluids can cause various adverse effects on health upon exposure through different routes such as skin through mists and sprays as well as inhalation from breathing mists or aerosols. Metalworking fluids can cause cancer, skin irritation, lung diseases, etc. Thus, attributing to the adverse health effects associated with the application of metalworking fluids, coupled with waste disposal problem, the demand for metalworking fluids is expected to decrease and act as an obstacle in the growth of the overall metalworking fluids market.

Read more: Global Metalworking Fluids Market Projected to Register a CAGR of 3.9% in Terms of Value During 2018-2028