About Honing Oil
Honing Oil is a Low Viscosity Oil that is used for the Honing & Super-Finishing of Ferrous & Certain Non-Ferrous Metals such as Nickel & Aluminum & Aluminum Alloys. It can also be used for General Cutting, Screw Machine, Tapping, Reaming & Grinding Applications. It plays an important Role in the Honing Process by Decreasing Friction & Heat, Increasing Productivity & Reducing Cost
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.1% |
The Market for the Honing Oil is Fragmented with the Presence of Many Players. Owing to Booming Industrialization, There are Growing Prospects for the New Players to Enter the Market Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Honing Oil market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sunnen Products Company (United States), Penrite Oil Company Pty Ltd (Australia), Lansky Inc. (United States), GROWMARK Inc. (United States), Mundial Inc. (United States), Sunbelt Lubricants (United States), Eurol B.V. (Netherlands), Eastern Petroleum (India), Schaeffer Mfg. Company (United States) and Tennessee Abrasive, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are McMaster-Carr (United States), Lubri Chem (India), Boker Solingen (United States), Hardwick & Sons (United States), Fuchs Lubricants Canada Ltd (Canada), Ohio Tool Works (United States), Viscotec Lubrichem (India), Tashoil Company Pvt Ltd (India) and Rockler Companies, Inc. (India).
Segmentation Overview
AMA Research has segmented the market of Global Honing Oil market by Type (Petroleum Based, Non-Petroleum Based and Others), Application (Cutting, Drilling, Drawing, Grinding, Threading, Tapping & Reaming and Others) and Region.
On the basis of geography, the market of Honing Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Viscosity, the sub-segment i.e. More than 125 SUS will boost the Honing Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use Industry, the sub-segment i.e. Automotive will boost the Honing Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Honing Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Usage of Honing Oil, Owing to the Growth in Manufacturing Division
Market Growth Drivers:
Growth in the Aerospace Industry Utilising Honing Oil for Cutting & Drilling Operation and Rise of the Automotive Sector Making Usage of the Honing Oil for Honing Activities
Challenges:
Availability of the Alternative Chemicals Solutions & Lubricants May Pose a Challenge
Restraints:
Fluctuating Price of the Raw Materials
Opportunities:
There are Growing Opportunities for the Usage of Honing Oil in the Oil & Gas Production and There are Prospects for the Market Expansion, Owing to the Increasing Use in Diamond Cutting Operations
Market Leaders and their expansionary development strategies
In December 2023, EKI Energy Services Ltd. and Indian Oil Corporation Limited (IOCL) Forge Partnership To Promote Sustainable Indoor Solar Cooking System. The collaboration aims to advance clean energy with Surya Nutan, an innovative indoor solar cooking system, designed and patented by IndianOils R&D division.
In October 2023, Champion Oil recently launched a new professional-grade honing oil for toughened steels, nickel alloys and a wide range of workshop applications. The high-performance honing and finishing fluid is formulated with a select blend of base fluids and additives that are safe for use with yellow metals.
The right honing fluid is mostly determined by the application, the material being honed, and the tooling used. The availability of honing oils is limited due to restrictions or special requirements. There are specific honing oil formulations that comply with Food and Drug Administration (FDA) and European Commission guidelines and regulations for honing medical devices that will be implanted into the human body.
Key Target Audience
Manufacturers of Honing Oil, Distributors, Traders, & Suppliers, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.