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The metalworking fluids market in Europe is estimated to register a CAGR of 3.12% during the projected period, 2020-2028. One of the important factors driving the demand of the market in the region is the growth of the chemical manufacturing industry. These lubricants are required for various applications such as compressors, fertilizer production, and rotatory machines, since they help in enhancing performance and operating life-cycle of the equipment.
The European metalworking fluids market is further segregated into the regions of France, the UK, Germany, Italy, Belgium, Russia, Poland, and the rest of Europe. In Russia, automotive sales grew by 7% in 2018 as compared to 2017, and with this boost in sales of new vehicles, the demand for metalworking fluids is expected to increase, which will further result in increased usage of synthetic lubricants. Belgium’s market is showcasing a steady growth due to increasing investments in the construction industry. The country also is a key player in the automotive industry despite the Brexit crisis. Belgium has highly qualified and productive manpower, making it an attractive destination for vehicle manufacturers. The country also has ports to enable rapid distribution and research centers to examine the possibilities of new technologies, thereby augmenting the market growth.
In countries like Poland, the automotive industry output accounts for 11% of Poland’s total industrial production and about 4% of the country’s GDP. The manufacturing industry also features the manufacture of petrochemicals and fertilizers, shipbuilding, and the production of electronics and electronic machinery. These factors will boost the demand for metalworking fluids in the country. The Rest of Europe includes Spain, Turkey, and others. Spain is home to one of the most developed chemical industries in Europe.
Blaser Swisslube, Inc., BP Plc, TOTAL S.A., Croda International Plc., are some of the well-known companies operating in the market.
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