The metalworking fluids market of Asia Pacific is anticipated to grow significantly and reach the highest CAGR of 3.60%, due to rapid economic development, and the introduction of various favorable government policies such as ’Smart Cities’ and FDI.
In order to understand the potential of the Asia Pacific metalworking fluids market further, the region is divided into countries such as South Korea, China, Japan, Australia & New Zealand, Indonesia, Vietnam, India, Thailand, and the rest of Asia Pacific that includes Singapore, Myanmar, Bangladesh, Sri Lanka, among others. Indonesia is the biggest car market in ASEAN and Southeast Asia in terms of market size. Further, the upsurge in the construction industry is driving the demand for metalworking fluids. In Thailand, the industrial lubricant market is still dominated by top brands, who have developed strong distribution channels for the past decades in the market. The Thai automotive sector has developed into one of the biggest hubs in Southeast Asia. The rising demand for railways, roadways, airports, and ports, is driving the demand for construction equipment in the country. Vietnam has a booming automotive industry, and the demand for lubricants is expected to increase substantially in the future. In Australia, the release of 21 new offshore areas for oil and gas exploration is expected to result in the growth in demand for lubricants used in the equipment for production and exploration activities. New Zealand’s growth increased by 4%, which was propelled by the rising construction activities in the country. In Bangladesh, the automotive industry is growing owing to the speedily growing per capita income
Exxon Mobil Corporation, Tide Water Oil Co. (India), Ltd., Hardcastle Petrofer, BP Plc, Hindustan Petroleum Corp. Ltd., etc. are some of the well-known companies operating in the market.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments