The North America Grinding Fluids Market would witness market growth of 3.1% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 64.94 Kilo Tonnes, showcasing a growth of 2.9% (2019-2022).
A growing emphasis on sustainability has driven the development of environmentally friendly grinding fluid formulations. This involves reducing or eliminating hazardous chemicals while maintaining or enhancing performance. Bio-based fluids, vegetable oils, and water-based formulations are gaining traction as alternatives to traditional oil-based fluids. Nano-fluids, which incorporate nanoparticles into the fluid matrix, is emerging as a frontier in grinding fluid technology.
These nanoparticles enhance lubrication at the cutting interface, improving efficiency and reducing friction. Nanoparticles like graphene and nanodiamonds are being explored to achieve superior heat dissipation and tool life performance. Using grinding fluids helps minimize the risk of thermal damage and ensures the production of high-precision components. Grinding fluids are vital in tool and die manufacturing, where intricate shapes and fine details are essential. They contribute to the longevity of cutting tools and ensure the maintenance of sharp edges. Additionally, they assist in preventing tool corrosion and facilitate the efficient removal of metal particles during grinding.
Furthermore, according to the Canadian government, Canada is one of the world's top 12 producers of light vehicles. With a $12.5 billion contribution to GDP in 2020, it is one of Canada's largest automotive manufacturing sectors. An increase in vehicle production accompanies the growth of the automotive manufacturing sector in Canada. As more automobiles are produced, the demand for precision machining processes like grinding rises. Grinding fluids are crucial in achieving the required tolerances and surface finishes in producing automotive components. Therefore, the factors mentioned above will propel the market growth in this region.
The US market dominated the North America Grinding Fluids Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $153.1 million by 2030. The Canada market is showcasing a CAGR of 5.4% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 4.5% during (2023 - 2030).
Based on Application, the market is segmented into Disk Drivers, Lubricate Machine Tools, Metal Substrates, Silicon Wafer, and Others. Based on Type, the market is segmented into Synthetic, Semi-Synthetic, Water-Soluble, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Grinding Fluids Market is Predict to reach $889.1 Million by 2030, at a CAGR of 3.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Benz Oil, Inc. (AMSOIL INC.), Carborundum Universal Limited (Murugappa Group), Castrol Ltd. (BP P.L.C.), Cutting & Grinding Fluids, Inc., EnviroServe Chemicals, Inc., ETNA Products, Incorporated, Exxon Mobil Corporation, FUCHS Petrolub SE, Lincoln Chemical Corporation, and TotalEnergies SE.
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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