What is Synthetic Coolant?
Synthetic Coolant which are mainly manufactured using polymers and usually do not comprise of any oil content. They comprise of synthetic lubricants, water softeners, anti-bacteria additives, corrosion inhibitors, glycols and other additives. Synthetic Coolants offers excellent tramp oil rejection properties which results in its superior cooling property. They are even known for their good lubrication properties, high stability in hard water, low mist and easy cleaning. But because they cost expensive than other coolants, and are easily contaminated by foreign oils hampering its properties as well as its toxicity content act as an hindrance, though with continuous research and development, this issues can be addressed. Geographically, Asia Pacific is the biggest market for Synthetic Coolants because of heavy automotive, metal working and other manufacturing industries set up in the region.
The market study is broken down, by Application (Cutting, Heavy Duty Grinding, Metal Forming, Milling, Drilling and Others) and major geographies with country level break-up.
The Synthetic Coolant market is expected to grow even further in the coming years with the rise of industrialisation, metal working and mining industry in Asia Pacific. Although steady rise of Africa and Latin America also presents an excellent opportunity for Synthetic Coolant Manufacturers. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Chemtall GmbH (Germany), ExxonMobil Corporation (United States), Royal Dutch Shell plc (Netherlands), Blaser Swisslube AG. (Switzerland), Houghton International Inc. (United States), Chem Arrow Corporation (United States), JTM Products Inc. (United States), Ashburn Chemical Technologies (United States), Mitasu Oil Corporation (Japan), Twin Specialties Corporation (United States), Commonwealth Oil Corporation Company (Canada), Accurate Lubricants & Metalworking Fluids Inc. (United States) and Fuchs Lubricants (India) PVT. Ltd. (India) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Synthetic Coolant market by Type, Application and Region.
On the basis of geography, the market of Synthetic Coolant 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 Metal Base , the sub-segment i.e. Aluminium and Alloys will boost the Synthetic Coolant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distributor Chanel, the sub-segment i.e. Direct will boost the Synthetic Coolant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Automotive Industry will boost the Synthetic Coolant market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In 2021, Idemitsu Kosan Co.’s Indian Subsidiary Idemitsu Lube India Pvt Ltd. has announced launch of a water soluble cutting oil in India called Daphne Alphacool CS. The company states that the product’s excellent defoaming property makes it the suitable option for high pressure and high speed machine operations. It is compatible with metal, non-metal and rubber which makes it convenient to be used in all machining products.
Market Trend
- More Sustainable in Research to manufacturing Synthetic Coolants
Market Drivers
- Rapid Industrialisation has Increased Demand for Synthetic Coolant because of Wide Array of Applications
- Growth of Automotive and Aerospace Industry
- Rise of Mining Industry
Opportunities
- Latin America and Africa can Offer Excellent Potential to the Market
Restraints
- Higher Costs Compared to Other Coolants
- Huge Toxicity Associated with the Synthetic Coolants can Act as a Hindrance
- Rising Tariffs on Metal and Alloys may Hinder the demand
Challenges
- Strict Environmental Policies
Key Target Audience
Synthetic Coolant Manufacturers, Suppliers and Distributers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, 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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.