Increasing Demand from Manufacturing Industries to Drive Honing Oil Market
Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-63497 Format: PDF Pages: 300
Report Highlights
According to a research survey conducted by ChemView Consulting, in Honing Oil Market was worth US $ 2.70 Bn. The market is expected to grow at a CAGR of 4.30 % between 2023 and 2033 to hit US $ 4.11 Bn by 2033 end.
Key Market Trends
Increasing Demand for Honing Oil in Automotive Industry
The automotive industry is increasingly relying on honing oil to improve the performance of engines and other components. This has led to a surge in demand for honing oil, driving growth in the honing oil market. Manufacturers are investing in research and development to develop new and improved honing oil products to meet the growing demand.
Growing Adoption of Bio-Based Honing Oil
The growing demand for eco-friendly and sustainable products has led to an increase in the adoption of bio-based honing oil. These products are made from renewable sources and are biodegradable, making them a more sustainable option than traditional petroleum-based honing oil. Manufacturers are investing in research and development to develop new and improved bio-based honing oil products to meet the growing demand.
Market Drivers
Honing Oil Market Booms as Demand Soars
The honing oil market is experiencing a surge in demand as more and more industries are turning to honing oil for their machining and honing needs. This is due to the fact that honing oil is a cost-effective and efficient way to achieve the desired results. As a result, the honing oil market is expected to continue to grow in the coming years.
Honing Oil Market Grows with Technological Advances
Technological advancements have made honing oil more efficient and cost-effective than ever before. This has led to an increase in demand for honing oil, as more and more industries are turning to honing oil for their machining and honing needs. As a result, the honing oil market is expected to continue to grow in the coming years.
Honing Oil Market Rides High on Automotive Industry Growth
The automotive industry is one of the largest consumers of honing oil, and its growth has been a major driver of the honing oil market. As the automotive industry continues to grow, so too does the demand for honing oil. This is due to the fact that honing oil is a cost-effective and efficient way to achieve the desired results. As a result, the honing oil market is expected to continue to grow in the coming years.
Honing Oil Market
Segmentation Insights
The honing oil market can be segmented based on the source of origin, application, and end-use industry.
In terms of the Source of Origin
The market can be divided into petroleum-based (mineral oils), non-petroleum based, water-based, and vegetable oil. Petroleum-based honing oils are the most widely used and readily available in the market. Non-petroleum-based oils are gaining popularity due to their eco-friendly nature and high performance. Water-based honing oils are used where the workpiece requires high cooling and lubrication, and vegetable oil-based honing oils are used where high biodegradability and eco-friendliness are required.
Based on the Application
The honing oil market can be segmented into drilling, grinding, tapping & reaming, drawing, cutting, threading, and other machining processes. Honing oil plays a critical role in reducing friction and heat during the honing process and improves surface finish, accuracy, and tool life.
In terms of the End-use industry
The market can be segmented into general manufacturing, automotive, defense and aerospace, electronic & electrical, shipbuilding, medical & healthcare, and others. The automotive industry is the largest end-user of honing oil due to the high demand for honing in engine blocks, crankshafts, and camshafts. The aerospace and defense industry also requires honing oil for precision machining and high-performance applications.
Overall, the honing oil market is driven by the demand for high-performance machining fluids that enhance productivity, efficiency, and tool life across various industries.
Regional Insights
North America: A Mature Market with High Demand in Manufacturing Industry
The North American honing oil market is a mature market with high demand in the manufacturing industry, including automotive, aerospace, and machinery. The established infrastructure and the increasing focus on sustainable manufacturing practices make North America an attractive market for honing oil manufacturers and investors.
Asia: A Growing Market with Expanding Manufacturing Industry
The Asian market, including countries like China, India, and Japan, is witnessing growth in the honing oil market due to its expanding manufacturing industry and increasing investments in the sector. The increasing focus on product development and the cost-competitive advantages of the region make Asia an attractive market for honing oil manufacturers and investors.
Research Scope/Taxonomy
Market Analysis by Source of Origin:
Market Analysis by Application:
Market Analysis by End Use Industry:
Market analysis by region:
Key Companies Profiled
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definitions
3.1. Preliminary Investigation & Research Application
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7.1. Cross Analysis of Application W.R.T. End User Type
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw End User Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Source Landscape
10.1. Introduction
10.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Source of Origin [Value (US$ Mn) and Volume (Tons) Analysis]
10.2.1. Petroleum Based (mineral oils)
10.2.2. Non-Petroleum Based
10.2.3. Water Based
10.2.4. Vegetable Oil
10.2.5. Market Attractiveness Analysis by Source of Origin
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Type [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.1. Drilling
11.2.2. Grinding
11.2.3. Tapping & Reaming
11.2.4. Drawing
11.2.5. Cutting
11.2.6. Threading
11.2.7. Other Machining
11.2.8. Market Attractiveness Analysis by Application
12.1. Introduction
12.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End-use Industry [Value (US$ Mn) and Volume (Tons) Analysis]
12.2.1. General Manufacturing
12.2.2. Automotive
12.2.3. Defense and Aerospace
12.2.4. Electronic & Electrical
12.2.5. Ship Building
12.2.6. Medical & Health Care
12.2.7. Others
12.2.8. Market Attractiveness Analysis by End-use Industry
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. North America
13.3.2. Latin America
13.3.3. Europe
13.3.4. Asia-Pacific
13.3.5. Middle East
13.3.6. Africa
13.4. Market Attractiveness Analysis by Region
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. U.S.
14.3.1.2. Canada
14.3.2. By Application
14.3.3. By End-use Industry
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Source of Origin
14.4.3. By Application
14.4.4. By End-use Industry
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Brazil
15.3.1.2. Mexico
15.3.1.3. Rest of Latin America
15.3.2. By Application
15.3.3. By End-use Industry
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Source of Origin
15.4.3. By Application
15.4.4. By End-use Industry
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. Germany
16.3.1.2. Italy
16.3.1.3. France
16.3.1.4. UK
16.3.1.5. Spain
16.3.1.6. Netherlands
16.3.1.7. Norway
16.3.1.8. Russia
16.3.1.9. Rest of Europe
16.3.2. By Source of Origin
16.3.3. By Application
16.3.4. By End-use Industry
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Source of Origin
16.4.3. By Application
16.4.4. By End-use Industry
17.1. Introduction
17.2. Key Market Trends
17.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.3.1. By Country
17.3.1.1. China
17.3.1.2. Japan
17.3.1.3. South Korea
17.3.1.4. India
17.3.1.5. Indonesia
17.3.1.6. Thailand
17.3.1.7. Vietnam
17.3.1.8. Australia & New Zealand
17.3.1.9. Rest of Asia-Pacific
17.3.2. By Source of Origin
17.3.3. By Application
17.3.4. By End-use Industry
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Source of Origin
17.4.3. By Application
17.4.4. By End-use Industry
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. Saudi Arabia
18.4.1.2. Turkey
18.4.1.3. U.A.E.
18.4.1.4. Rest of the Middle East
18.4.2. By Source of Origin
18.4.3. By Application
18.4.4. By End-use Industry
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Source of Origin
18.5.3. By Application
18.5.4. By End-use Industry
19.1. Introduction
19.2. Key Market Trends
19.3. Pricing Analysis
19.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
19.4.1. By Country
19.4.1.1. South Africa
19.4.1.2. Nigeria
19.4.1.3. Egypt
19.4.1.4. Rest of Africa
19.4.2. By Source of Origin
19.4.3. By Application
19.4.4. By End-use Industry
19.5. Market Attractiveness Analysis
19.5.1. By Country
19.5.2. By Source of Origin
19.5.3. By Application
19.5.4. By End-use Industry
20.1. Tier Structure Breakdown
20.2. Market Share Analysis
20.3. Production Capacity Analysis
20.4. Company Footprint Analysis
20.4.1. Product Footprint of Players
20.4.2. Regional Footprint of Players
20.4.3. Channel Footprint of Players
20.5. Brand Preference Analysis
20.6. Competition Dashboard
21.1. Lansky Sharpeners.
21.1.1. Company Overview
21.1.2. Product & Financial Portfolio
21.1.3. Manufacturing Facilities
21.1.4. Recent Developments
21.1.5. SWOT Analysis
21.1.6. Strategy Overview
21.2. Sunbelt Lubricants
21.3. Sunnen Products Company
21.4. GROWMARK Lubricants
21.5. Eurol BV
21.6. Mundial Inc.
21.7. Penrite Oil Company Pty Ltd.
21.8. Others