Product Code: ETC297984 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
India Metalworking Fluids Market registered a growth of 52.05% in value shipments in 2022 as compared to 2021 and an increase of 16.7% CAGR in 2022 over a period of 2017. In Metalworking Fluids Market India is becoming less competitive as HHI index in 2022 was 1511 while in 2017 it was 1270. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Metalworking Fluids Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Metalworking Fluids Market in 2022 was 0.19 while in 2017 it was 0.14. Russian Federation, Iraq, Saudi Arabia, United Arab Emirates and Rep. of Korea were among the top players of the market in 2022, where Russian Federation acquired the largest market share of 32.49% with a shipment value of 3966.1 million USD in 2022 Russian Federation also offered the product below the average market price thus having a competitive advantage over others In 2017 United Arab Emirates had the largest market share of 25.17% with the shipment value of 799.84 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As United Arab Emiratesprice is lower than the average price, it provided a significant edge among other competitor in 2017.
The India metalworking fluids market is poised for significant growth in the coming years. Metalworking fluids, such as cutting oils, coolants, and lubricants, play a crucial role in the manufacturing industry by providing lubrication and cooling during metal machining processes. The market`s growth is primarily driven by the expanding manufacturing sector in the country, driven by various industries such as automotive, aerospace, and machinery manufacturing. The increasing demand for high-precision components and the need for efficient metalworking processes are propelling the adoption of advanced metalworking fluids. Additionally, the focus on reducing operational costs, improving tool life, and enhancing machining performance is driving the demand for specialized metalworking fluid formulations. However, challenges related to environmental regulations and the need for sustainable and eco-friendly metalworking fluid solutions may impact market growth.
The India metalworking fluids market is expected to witness substantial growth, driven by several key drivers. One of the primary drivers is the flourishing manufacturing and automotive sectors in the country. The metalworking fluids are extensively used in machining and metal forming processes, catering to the increasing demand for high-precision components and parts in these industries. Moreover, the growing focus on improving manufacturing efficiency and reducing operational costs is driving the adoption of metalworking fluids. These fluids offer benefits such as enhanced tool life, improved surface finish, and reduced friction, leading to increased productivity and cost savings. Additionally, stringent environmental regulations and the need for sustainable practices are propelling the demand for eco-friendly metalworking fluids. Manufacturers are investing in bio-based and biodegradable fluids to comply with environmental norms and ensure a safer working environment for employees.
The India metalworking fluids market is witnessing growth as industries such as automotive, aerospace, and manufacturing prioritize efficient machining processes. This market`s outlook is driven by factors such as the expansion of metalworking industries, the increasing demand for high-performance cutting and grinding fluids, and the adoption of advanced metalworking fluid formulations for improved tool life and surface finish. Additionally, the rising focus on eco-friendly and sustainable metalworking fluids, such as water-based and vegetable oil-based fluids, and the development of specialized fluids for specific machining applications are further contributing to market growth.
The India metalworking fluids market is witnessing steady growth as the manufacturing sector continues to expand and adopt advanced machining processes. This market`s outlook is driven by factors such as the increasing demand for metalworking fluids in automotive, aerospace, and machinery industries, the rise of precision manufacturing and engineering applications, and the need for improved tool life and surface finish. Additionally, the growing focus on eco-friendly and bio-based metalworking fluids and the development of specialized formulations for high-speed machining and difficult-to-machine materials are further contributing to market growth. The COVID-19 pandemic had a significant impact on the manufacturing sector, leading to disruptions in production and supply chain activities. However, the market is expected to recover as industrial activities resume and the demand for metalworking fluids rebounds.
In the India metalworking fluids market, several key players dominate the landscape. International companies such as ExxonMobil Corporation, FUCHS Group, and Castrol India Limited are among the leading suppliers of metalworking fluids, offering a wide range of products catering to various metal processing industries. These companies have a strong global presence and are known for their high-quality and technologically advanced metalworking fluids. Moreover, domestic manufacturers like HP Lubricants and India Oil Corporation Limited also play a significant role in the market, providing localized solutions and catering to the specific requirements of India industries. These players often offer cost-effective metalworking fluids without compromising on performance and quality.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Metalworking Fluids Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Metalworking Fluids Market Revenues & Volume, 2021 & 2028F |
3.3 India Metalworking Fluids Market - Industry Life Cycle |
3.4 India Metalworking Fluids Market - Porter's Five Forces |
3.5 India Metalworking Fluids Market Revenues & Volume Share, By Product, 2021 & 2028F |
3.6 India Metalworking Fluids Market Revenues & Volume Share, By Application, 2021 & 2028F |
3.7 India Metalworking Fluids Market Revenues & Volume Share, By End-use, 2021 & 2028F |
4 India Metalworking Fluids Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Metalworking Fluids Market Trends |
6 India Metalworking Fluids Market, By Types |
6.1 India Metalworking Fluids Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 India Metalworking Fluids Market Revenues & Volume, By Product, 2018 - 2028F |
6.1.3 India Metalworking Fluids Market Revenues & Volume, By Mineral, 2018 - 2028F |
6.1.4 India Metalworking Fluids Market Revenues & Volume, By Synthetic, 2018 - 2028F |
6.1.5 India Metalworking Fluids Market Revenues & Volume, By Bio-based, 2018 - 2028F |
6.2 India Metalworking Fluids Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Metalworking Fluids Market Revenues & Volume, By Neat Cutting Oils, 2018 - 2028F |
6.2.3 India Metalworking Fluids Market Revenues & Volume, By Water Cutting Oils, 2018 - 2028F |
6.2.4 India Metalworking Fluids Market Revenues & Volume, By Corrosion Preventive Oils, 2018 - 2028F |
6.2.5 India Metalworking Fluids Market Revenues & Volume, By Others, 2018 - 2028F |
6.3 India Metalworking Fluids Market, By End-use |
6.3.1 Overview and Analysis |
6.3.2 India Metalworking Fluids Market Revenues & Volume, By Metal Fabrication, 2018 - 2028F |
6.3.3 India Metalworking Fluids Market Revenues & Volume, By Transportation Equipment, 2018 - 2028F |
6.3.4 India Metalworking Fluids Market Revenues & Volume, By Machinery, 2018 - 2028F |
6.3.5 India Metalworking Fluids Market Revenues & Volume, By Others, 2018 - 2028F |
7 India Metalworking Fluids Market Import-Export Trade Statistics |
7.1 India Metalworking Fluids Market Export to Major Countries |
7.2 India Metalworking Fluids Market Imports from Major Countries |
8 India Metalworking Fluids Market Key Performance Indicators |
9 India Metalworking Fluids Market - Opportunity Assessment |
9.1 India Metalworking Fluids Market Opportunity Assessment, By Product, 2021 & 2028F |
9.2 India Metalworking Fluids Market Opportunity Assessment, By Application, 2021 & 2028F |
9.3 India Metalworking Fluids Market Opportunity Assessment, By End-use, 2021 & 2028F |
10 India Metalworking Fluids Market - Competitive Landscape |
10.1 India Metalworking Fluids Market Revenue Share, By Companies, 2021 |
10.2 India Metalworking Fluids Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |