Machine tools are used for cutting, drilling, forming, grinding and shaping a piece. To operate efficiently the machine tools needs to be lubricated with oil. Machine tools oil have wide range of applications in heavy equipment manufacturing sectors such as automotive, military, defense and so on. They are used for cutting, pressing, forming, grinding, drilling and shaping metals or any other material to get the suitable machine. Better lubrication helps in reducing operating cost, scrap time.
Proper lubrication management is central to the long service life of machine tools. Machine tool oils are applied to ensure workpiece quality, to reduce tool wear, and to improve process productivity. They influence heat generation in machine tool working processes by reducing friction between tool and work piece. Cooling is furthermore achieved by dissipating and conducting the generated heat. By their lubricating and cooling properties, machine tool oils contribute to the avoidance of thermal damage of the work piece material and reduce wear of the tool.
Market Size and forecast
Machine tools oil being an obligatory part of manufacturing industry is a rapidly growing market with its benefits of dealing with any size of machine. The increase in demand for machine tools has rapidly increased due to growing urbanization and subsequent demand for automation.
Supportive government policies, increasing demand for automation along with growing demand for safety is driving the machine tool market.
Machine tool market is expected to contribute a major share in wireless networks by offering its applications across electrical, mechanical, electronic sectors. It is likely to raise its investment by attracting more key players.
After sub-prime crisis, with the economic recovery the demand for machine tool grew and subsequently machine tool oil market increased too but it came to a halt during 2013-2015. Even a country like China faced a situation where not only production but consumption got severely diminished. Many of the leading players began to make losses and some of the smaller companies either got bankrupt or they shut their businesses. However, Global Machine Tools Market is expected grow at a CAGR of 7.1% during the period 2018-2022 which will automatically drive downstream industries. Global machine tool oil market is thus anticipated to grow at a positive rate.
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- Straight oils
- Synthetic fluids
- Soluble oils
- Semi-synthetic fluids
- Oilâ€‘Based Machine Coolants
- Chemical Machine Coolants
By End Use
- Manufacturing Industry
- Automobile Industry
- Military & Defense
By Manufacturing Process
Global Paper Based Consumer Bags Market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Key Players
The global machine tool oil market is essentially determined by the development at end user industry. If the political turmoil stabilizes and global economy continues to perform better than end user industries are bound to excel. Urbanization & industrialization in the emerging economies such as India, Brazil, Mexico, and China requires the end- user applications in industrial machinery to use machine tool oil in more quantities which is expected to foster the growth of this sector at a global level. Also, the rising spending on construction activities in Asia-Pacific and South America is a major driver for the growth of this industry. Rising investments in public transportation and increasing construction renovation activities in the region are expected to open new avenues for the market growth over the projected period.
Political turmoil will hamper the growth of industries. Political instability will slow down the economic growth. Slowdown in economic growth will subsequently impact industries like construction, mining and manufacturing sector would be severely impacted and this would affect the market for machine tool oil.
Top Featured Companies Dominating The Market
- Lubrication Engineers
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Bel-Ray Company
- ROCOL (ITW Division)
- Texas Refinery Corp.
- Exxon Mobil Corporation