PRZOOM - /newswire/ -
Palo Alto, CA, United States, 2006/11/03 - New analysis from Frost & Sullivan, U.S. Metalworking Fluids Market, reveals that the market earned revenues of $909.4 million in 2006 and estimates this to reach $988.7 million in 2013..
Significant growth in niche markets is presenting growth opportunities for metalworking fluids used in these applications. However, there is a need to innovate new products to stay ahead of competitors and to address the technological trends such as high speed machining. Also, an increase in demand for high performance products in certain niche applications is likely to contribute toward increasing the revenues.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the U.S. Metalworking Fluids Market, then send an e-mail to Trisha Bradley, Corporate Communications, at trisha.bradley[.]frost.com with the following information: your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
“The market for metalworking fluids in the United States is becoming increasingly competitive, with fluid manufacturers competing fiercely to maintain their production capacities amidst increasing raw material costs and tightening regulations,” says Frost & Sullivan Research Analyst Sreeram R. “The geographical movement of end-user industries such as automotive manufacturers away from the United States is reducing the consumption of metalworking fluids within the United States.”
Large end-user industries such as aerospace are increasingly shifting toward non-ferrous metal solutions that provide similar characteristics as iron and steel, in addition to being lower in weight. Moreover, leading manufacturers such as Castrol Industrial and D.A. Stuart are working toward removing the environmentally unacceptable chlorinated, phenolic materials and tri-azine compounds from their formulations. This situation provides the opportunity to innovate and develop products, which do the work of the traditional fluids while being environmentally friendly.
However, end applications using metalworking fluids pose requirements for broad product portfolios for the U.S. manufacturers. Addressing fast changing technological trends within these end applications is also making it harder for the manufacturers to satisfy individual clients, while sustaining business.
“Introduction of high speed machining represents a shift from traditional machining methods,” notes Sreeram. “Technological advancements in equipment and processes in various end applications require customization to individual needs. This poses considerable challenges under the stagnant demand for metalworking fluids in the United States.”
Opportunities for manufacturers arise by distinguishing their product offering from existing competition. Metalworking fluid manufacturers need to focus on offering innovative products that are cost effective and satisfy changing customers’ needs. A collaborative approach with customers with increased focus on research and development and enhancing services expects to boost this market.
The U.S. Metalworking Fluids Market is part of the Chemicals and Materials Growth Partnership Service, and is a thorough assessment of the market including market forecasts, competitive structure and market share analysis. His study also reviews the principal drivers and restraints, examines the future potential for metalworking fluids, and suggests strategic recommendations for the U.S. metalworking fluids market. Interviews are available to the press.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.