Apart from cooling and providing protection from corrosion, enhanced lubrication is another key benefit that is provided by forming fluids, which has significantly escalated their demand in the automotive industry. They are also crucial in processes like the removal, shaping and treating of metals which are extensively used for maintaining the durability and structural strength of vehicles.
As a result, the robust growth in the automotive industry has further boosted the sales of forming fluids. Furthermore, on account of the heavy maintenance expenditure across the manufacturing and processing industries, there has been a significant rise in the demand for innovative protection solutions. Owing to the aforementioned factors, the global forming fluids market size is anticipated to reach US$ 3.37 Billion by 2024, exhibiting a CAGR of around 2.2% during 2019-2024.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/forming-fluids-market
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Created on May 22nd 2019 01:12. Viewed 115 times.