July 30, 2020

Metal Working Oil Market is valued to reach USD 9.68 Billion by 2020, growing at CAGR of 4.2% over forecast period 2020-2026

The Global Metal Working Oil Market is valued to reach USD 9.68 Billion by 2020, growing at CAGR of 4.2% over forecast period 2020-2026. Factors like consolidation in the metal fabrication industry, growing exploration and production activities of oil and gas, growing demand in automation, metal fabrication steel and OEM industries are propelling the market growth.

Metal working fluids are extensively employed for industrial tasks such as cutting, stamping, grinding, milling and drilling. In addition, metal working fluids are also used for lubrication purposes. There can be two types of metal working fluids i.e. water based and neat oils. Water based fluids are termed as emulsions and neat oil are non-water products that are miscible oily preparations. Their complexity is based on mineral oils or synthetic hydrocarbon compounds. Various admixtures such as stabilizers, solubility enhancers and pressure additives are also commonly used.

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