The Latin America, Middle East and Africa Grinding Fluids Market would witness market growth of 4.4% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 27.88 Kilo Tonnes, showcasing a growth of 4.6% (2023-2030).
Grinding fluids are specialized liquids or gases employed in machining operations to lubricate, cool, and flush away debris generated during grinding. The primary objective is to optimize metal removal efficiency and quality while minimizing tool wear and thermal damage to the workpiece. These fluids act as a protective barrier between the grinding wheel and the workpiece, facilitating smoother cutting and reducing excessive heat generation.
The composition of grinding fluids can vary widely, encompassing a range of base fluids, additives, and performance-enhancing agents. Common base fluids include mineral oil, synthetic oils, water, or a combination. Additives are incorporated to impart specific properties, such as corrosion resistance, lubricity, and heat dissipation. The selection of an appropriate grinding fluid is influenced by factors such as the machining process, materials being worked on, and desired surface finish.
As per the Brazilian National Agency for Petroleum, Natural Gas, and Biofuels, Brazil owns the world's largest recoverable ultra-deep oil reserves, with 97.6% of Brazil's oil production produced offshore. The 2022 average oil production was 3.02 million barrels per day, 2.47% higher than the previous annual record. The oil and gas industry involves machining critical components such as valves, connectors, and drill bits. Precision machining, including grinding processes, is essential to meet the stringent requirements of these components. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The Brazil market dominated the LAMEA Grinding Fluids Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $21.8 million by 2030. The Argentina market is exhibiting a CAGR of 4.9% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 4.1% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Grinding Fluids Market is Projected to reach USD 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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