Honing Oil is an emulsion or solution used to aid in the honing process. Honing process typically demands a high level of level of precision and extremely tight tolerances at sub-micron levels. Honing oil helps removing debris to ensure operational accuracy along with protecting the abrasive tools in the honing machine.
Honing oil is available in a wide variety of compositions and various levels of viscosity depending upon the process requirement. Although honing oil market account for a relatively small amount in the overall operational cost, selection of right honing oil has significant impact on the honing process, abrasive lifecycle and product quality.
Honing oil plays a crucial role in the honing process by reducing friction and heat, increasing productivity and reducing cost. Honing oil can be made from both petroleum based source such as mineral oil and non-petroleum based water and vegetable oils.
Mineral oil is one of the ideal candidate for honing process owing to its light weight and low viscosity along with its non-hardening characteristic. Water based honing oils are mostly preferred with diamond stone sharpeners. Furthermore, in order to improve the operational efficiency and performance of honing oil various specialty lubricity agents and additives.
Further, some of the key desired properties of honing fluids includes anti-corrosive, anti-weld, high lubricity and low cost among others.
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Honing Oil Market: Dynamics
The global Honing Oil market is anticipated to experience healthly growth during the forecast period. One of the key factor pushing the growth of honing oil market is robust growth of manufacturing industry. Further, honing oil finds it’s another prominent application in automotive industry mainly for re-conditioning engine cylinder bores and heads.
Recovery and steady growth of automotive industry and increasing automotive production particularly in developing countries, this is expected to further fuel the growth of honing oil market during the forecast period. Furthermore, recovering economic growth in European countries is driving investment and growth of manufacturing sector is expected to support the growth of market during the forecast period.
Moreover, with the technological development an increasing demand for high precision and accurate products is deriving the demand for high performance lubricants and oils in various industrial verticals. Further, increasing utilization of high-speed cutting and processing technology to increase productivity this require high quality fluids and components.
Honing oil manufacturers are focusing on development of various blends and additives, such as sulfur, rust inhibitors, chlorine and phosphorous. Further, manufacturers are developing chlorine-free honing oil based on a low aromatic base oil and polarized additives to improve lubricity and efficiency.
Honing Oil Market: Regional Overview
Rapid industrialization and urbanization across developing regions such as Asia Pacific is expected to create lucrative growth opportunity for the growth of honing oil market during the forecast period. Moreover increasing manufacturing capabilities along with shifting production base of major manufacturing giants to countries such as India, China and Indonesia in order to gain economic benefits and the government support through favorable policies and initiative is expected support the growth of honing oil market during the forecast period.
Europe and North America market is expected to witness steady growth during the forecast period. Latin America is estimated to be a lucrative region for the growth of honing oil market. The growth of the market are expected to be primarily driven by recovering political and economic outlook.
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Honing Oil Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Honing Oil market includes:
- Sunnen Products Company
- Penrite Oil Company Pty Ltd
- Lansky Sharpeners
- GROWMARK Lubricants
- Mundial Inc.
- Sunbelt Lubricants
- Eurol BV
The research report presents a comprehensive assessment of the Honing Oil market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Honing Oil market report also contains projections using a suitable set of assumptions and methodologies. The Honing Oil market research report provides analysis and information according to Honing Oil market segments such as geographies, application, and industry.
Honing Oil Market: Segmentation
On the basis of Source of Origin, the global Honing Oil can be segmented into:
- Petroleum Based (mineral oils)
- Non-Petroleum Based
- Water Based
- Vegetable Oil
On the basis of Application, the global Honing Oil can be segmented into:
- Drilling
- Grinding
- Tapping & Reaming
- Drawing
- Cutting
- Threading
- Other Machining
On the basis of End-use Industry, the global Honing Oil can be segmented into:
- General Manufacturing
- Automotive
- Defense and Aerospace
- Electronic & Electrical
- Ship Building
- Medical & Health Care
- Others
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