Transparency Market Research has published a new market report titled “Metalworking Fluids Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” According to the report, the global metalworking fluids market was valued at US$9.91 bn in 2015 and is anticipated to reach US$14.79 bn by 2024, expanding at a CAGR of 4.6% between 2016 and 2024.
Metalworking fluids are used as coolants and lubricants in metalworking processes. They are also known as cutting fluids. Based on different applications, they have been segmented into removal fluids, forming fluids, treating fluids, and protecting fluids. Metalworking fluids are manufactured using different raw materials and processes such as petroleum distillates, animal fat, plant oil, air, and water. Metalworking fluids are categorized into different product type such as neat oil, soluble oil, semi-synthetic fluids, and synthetic fluids.