The Indian and Chinese government policies are keen on implementing export-oriented standards to grab international attention, which shall be fueling their foreign trades in the upcoming years. The flourishing heavy-duty manufacturing industries across North America and European regions have generated a firm demand for the metalworking fluids market.
The competitive landscape showcases the profiles and business strategies of the major players, along with their recent developments. Some of the dominant players operating in this market include Apar Industries Limited, Chevron Phillips Chemical Company, Castrol, ExxonMobil Houghton International, Fuchs Lubricants Co., LUKOIL, Total, The Lubrizol Corporation, Quaker Chemical Corporation, Master Chemical Corporation, The Dow Chemical Company, Milacron, Henkel, Chemetall, Afton Chemical, PPG Industries, Hindustan Petroleum Corporation Limited, Shell, Indian Oil Corporation Limited, PT.Pertamina (Persero), and SINOPEC among others.
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Players are entering into business partnerships with fellow contestants and are significantly investing in innovation strategies, which is estimated to drive the cellular vendors to reach new growth markets.
Government regulations related to the use of metalworking fluids have mandated the production of additives that extend the properties of MWFs and consequently sustain the environment and workpiece. The development of bio-based metalworking fluids has maturely handled the manufacturing requirements of the food industry. The addition of a large number of natural chemicals for handling food materials has mitigated the food industry into metalworking applications.
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