Cutting Fluid Market Trends

Growth Drivers

• Growing Investment in Research and Development Activities - Manufacturers want to produce different types of cutting fluids based on machine requirements and developments. Cutting fluid disposal has long been a concern, which is why manufacturers are turning to bio-based cutting fluids. Therefore, investing in research and development to meet the growing demand for cutting fluids has become a trend in the global cutting fluid market. Add to this the increasing environmental regulation of cutting fluid recycling.
• Growing Demand in Aerospace Sector - Besides automotive sector, cutting fluids are also utilized in the aerospace industry owing to their wide range of abilities such as lightweight, easy construction, chemical resistance attack and more. Additionally, integration of advanced cutting fluids such as synthetic or bio-based ones that are eco-friendly is expected to drive the growth further in the projected period. Cutting fluids help improve the efficiency of the machining process, leading to higher machine production volumes. Therefore, the demand for cutting fluids is expected to remain stable during the prediction period.
• Expansion of Oil & Gas Industry - There is increasing emphasis on improving machining performance, reducing tool wear and increasing productivity as well as health and safety, with the need for cutting fluids to cut exposure to contaminants and harmful contamination in the air. The expansion of the oil and gas industry, which requires cutting fluids for drilling and exploration activities, is expected to shape the cutting fluid market landscape.

Challenges

• Environmental Regulations – Cutting Fluids contain harmful chemicals so manufacturers are under increasing pressure to develop more environmentally friendly products. This is predicted to hamper the market growth in the forecast period.
• Safety Concerns Associated are Predicted to Pose limitation on the Market Growth
• High Cost of Cutting Fluids is Expected to Restrict the Cutting Fluid Market Growth in the Upcoming Period