Honing Oil is an emulsion or solution used to aid in the honing process. The honing process typically demands a high level of precision and extremely tight tolerances at sub-micron levels. Honing oil helps remove debris to ensure operational accuracy along with protecting the abrasive tools in the honing machine.
The global honing oil market is anticipated to create an absolute dollar opportunity over the forecast period from 2022 to 2032. The market is expected to register a double-digit growth rate throughout the projection period. Furthermore, the growth of the market is attributed to rapid industrialization, expanding manufacturing sector, and increasing demand for solutions for the re-conditioning of machines and mechanical parts are expected to accelerate the sales of honing oils in the global market.
The honing process specifically demands extremely high tolerance and a great level of precision/ It is crucial to have accuracy at sub-micron levels as well. Honing oils help in cleaning and removing debris to protect the abrasive tools and ensure the operational accuracy of the honing machine. Furthermore, honing oils are known as liquid solutions or emulsions utilized in honing process. These oils are available in numerous levels of viscosity and comprise a massive variety of compositions. They come as petroleum-based, water bases, vegetable oil-based, and other non-petroleum-based, depending upon the end-use process requirements.
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Although honing oil attributed to a relatively small amount of the overall operational cost, the selection of appropriate honing oil consists of a significant impact on the abrasive lifestyle, honing process, and product quality. Furthermore, honing oil plays a crucial role in the honing process by accelerating productivity, reducing friction, declining heat generation, and decreasing cost. In addition to that, petroleum-based mineral oils have emerged as one of the prominent sought-after honing oils. They are excessively used for industries backed by their low viscosity, lightweight, and non-hardening characteristic. While water-based honing oils are extensively preferred for precious stone sharpening and cutting.
Key Takeaways
- Honing oils are expected to find a wide range of users across various sectors for numerous applications. These include drilling, cutting, tapping & reaming, grinding, drawing, and threading, favored by their ability to decline the honing time, safeguard the honing equipment, and increase productivity.
- Over the past few years, a significant surge has been witnessed in the trend of industry 4.0 across the globe. Therefore, the propelling introduction of advanced industrial equipment has resulted in the rapid adoption of process automation technologies, especially across industrializing economies such as China, India, South Korea, Brazil, Australia, and others.
- A surging focus on declining production time and rising industrial production capacity has led to the growth of the global honing oil market. In addition to that, favorable government regulations worldwide are emphasizing undertaking several initiatives to promote industrial automation for expanding their industrial manufacturing sectors.
- According to the study conducted by India Brand Equity Foundation, in 2021, the Indian Government announced the launch of the Samarth Udyog Bharat 4.0 initiative. This was attributed to rapidly promoting the adoption of innovative manufacturing and process automation technologies to expand the country’s manufacturing sector by 2025.
- Since honing oils are extensively utilized in automated honing processing for multiple drilling and cutting applications across various manufacturing sectors, such developments will create lucrative growth opportunities in the global market.
- Honing oils are predicted to garner huge traction across numerous industries such as automotive, defense & aerospace, shipbuilding, electronic & electrical, and others. Owing to their ability to provide surface attributes such as high lubricity, anti-corrosive, and anti-weld among others. This is anticipated to facilitate the demand for honing oils in the market.
Competitive Landscape
Some of the prominent market players are focusing on increasing investment in the development and introduction of novel honing oils. Moreover, the global honing oil market is known to be highly competitive over the projection period.
Key Companies Profiled
- Lansky Sharpeners
- Sunbelt Lubricants
- Sunnen Products Company
- GROWMARK Lubricants
- Eurol BV
- Mundial Inc.
- Penrite Oil Company Pty Ltd.
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More Insights into the Honing Oil Market
The Asia Pacific region is expected to dominate the global honing oil market throughout the assessment period. The growth of the market is attributed to a significant rise in the production and sales of automotive vehicles such as passenger cars, commercial vehicles, and motorcycles being witnessed across the Asia Pacific, on account of increasing per capita disposable income and rising inclination towards traveling with comfort.
The European region is yet another demography expected to augment over the forecast period. The growth in Western European market is expanding rapidly due to the increasing in the industrial manufacturing industry and increasing production of automobiles, demand for solutions for the re-conditioning and honing of mechanical parts is surging at a rapid pace.
Key Segments Profiled in the Honing Oil Market Survey
By Source of Origin:
- Petroleum Based (mineral oils)
- Non-Petroleum Based
- Water Based
- Vegetable Oil
By Application:
- Drilling
- Grinding
- Tapping & Reaming
- Drawing
- Cutting
- Threading
- Other Machining
By End Use Industry:
- General Manufacturing
- Automotive
- Defense and Aerospace
- Electronic & Electrical
- Ship Building
- Medical & Health Care
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
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