According to the latest market research study released by Technavio, the global removal fluids market is expected to grow at a CAGR of around 4% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global removal fluids market based on applications:
Global removal fluids market share by applications 2015
|
Transportation equipment |
36.04% |
|
Machinery |
22.17 % |
|
Primary metals |
20.03% |
|
Fabricated metal products |
16.81% |
|
Metal cans and others |
4.95% |
Source: Technavio
The top three revenue contributing application segments are discussed below:
Global removal fluids market in transportation equipment segment
The global removal fluids market in the transportation equipment segment accounted for more than 36% of the total market revenue and is expected to grow at a CAGR of around 4% during the forecast period. The automotive manufacturing sub-segment accounted for over 45% of the transportation equipment sector and includes conveyors, cranes, lifts and industrial trucks. The production of transportation equipment demands a broad range of metalworking, specifically removal fluids for operations like machining, stamping, forging, and others.
“Currently, Germany is the leading producer of transportation equipment in EMEA and is the largest consumer of removal fluids in the region. Removal fluids are consumed extensively in the transportation equipment segment in Europe. The transportation equipment segment will experience significant growth in most of the countries in the Americas because of robust growth in vehicle production,” says Swapnil T.S., a lead analyst at Technavio for research on additives, adhesives, and sealants.
Global removal fluids market for machinery segment
The global removal fluids market in the machinery segment occupied around 22% of the total market share in 2015 and is expected to register a growth rate of almost 5% during the predicted period. Removal fluids have extensive usage in the production of machinery used in the manufacture of other general-purpose machinery, machine tools, agricultural and forestry machinery, and manufacture of arms and ordinance. The global removal fluids market in the machinery segment will witness moderate growth during the forecast period owing to the increased development of the machinery sector in the BRICS countries including Brazil, Russia, India, China and South Africa. The growing rate of industrialization in countries such as China, India, Japan, South Korea, and Indonesia has made APAC the highest consumer of removal fluids in the machinery sector. The bearing and gear manufacturers are heavy users of removal fluids. Other users include producers of engines, agricultural equipment, and transmission and conveyor chains. As per Technavio’s industry analysis, China accounted for the highest consumption of machine tools in 2015, followed by the US and Germany with a significant contribution.
Global removal fluids market for primary metals segment
The global removal fluids market in the primary metals segment will grow at a moderate pace over the forecast period, by posting a CAGR of more than 4%. Removal fluids are used for primary ferrous products in the primary metals segment. The primary ferrous sub-segment accounted for the majority share of the global removal fluids. The aluminum industry outperformed all the other non-ferrous industries in the primary metals sector, thanks to the increased demand in the automotive and machinery industries. The aluminum industry leads the primary non-ferrous sub-segment, especially in the European region. Secondary aluminum production provides around 95% energy-saving option in comparison to the production of primary aluminum. Removal fluid is the leading product category in the primary aluminum industry in Europe and contributes over 85% of the total consumption volume in the primary non-ferrous sub-segment.
The top leading vendors operating in the global removal fluids market are:
- BASF
- BP
- Chevron Lubricants
- ExxonMobil
- Lonza
- Fuchs Petrolub
Other prominent vendors in the market include Apar, Columbia Petro, Gazprom, Idemitsu Kosan, Lukoil, Pertamina, and Sinopec.
A more detailed analysis is available in the Technavio report titled, ‘Global Removal Fluids Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Metalworking Fluids Market 2016-2020
- Global Functional Fluids Market 2016-2020
- Global Heat Transfer Fluids Market 2016-2020
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