IMARC Group, a leading market research company, has recently releases report titled “Automotive Die Casting Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automotive die casting lubricants market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the automotive die casting lubricants market?
The global automotive die casting lubricants market size reached US$ 1.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
What is Automotive Die Casting Lubricants?
Automotive die casting involves the rapid injection of a molten material into a mold using high pressure. An automotive die casting lubricant serves the purpose of minimizing friction between surfaces during the metal casting process. It performs various functions, such as facilitating force transmission, transporting foreign objects, and regulating surface temperatures. These lubricants can be classified into two primary types: water-based and solvent-based. They play a crucial role in safeguarding components from issues like porosity, buildup within the mold, and incomplete filling. Furthermore, automotive die casting lubricants contribute to the production of visually appealing castings with reduced gas formation while also mitigating mold surface corrosion and pitting.
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What are the growth prospects and trends in the automotive die casting lubricants industry?
The market growth of automotive die casting lubricants is being driven by several key factors. One of these factors is the increasing utilization of die casting in manufacturing automotive components, which allows for high dimensional accuracy and lighter weight. Additionally, the market is being fueled by the rising sales of automobiles and the growing purchasing power of consumers.
Besides this, stringent regulations implemented by government bodies to reduce carbon emissions are leading to a higher demand for lightweight and non-ferrous metals in the automotive sector, thus further driving the global market. Moreover, various government bodies have introduced subsidies and financial aid to promote the production and sales of electric vehicles, which is also contributing to the market's growth. Another significant factor is the changing consumer preferences from forged components to die-cast products due to their superior strength-to-weight ratio.
Apart from this, extensive research and development activities focused on developing sustainable and eco-friendly product variations are expected to have a positive impact on the automotive die casting lubricants market during the forecast period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Water-based
- Solvent-based
- Others
Breakup by Material Type:
- Aluminum and Magnesium
- Tin
- Lead and Zinc
- Copper and Brass
- Others
Breakup by Application:
- Die Slick
- Plunger Slick
- Ladle Slick
- Assembly Slick
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Chemtool Incorporated (The Lubrizol Corporation), Chem-Trend LP (Freudenberg Co. KG), Condat SA, Falcon Industrial Inc, Geiger + Co. Schmierstoff-Chemie GmbH, Hardcastle Petrofer Pvt. Ltd, Hill and Griffith Company, Lubgraf Synoils Pvt. Ltd, MORESCO Corporation, Petróleo Brasileiro S.A. and Quaker Houghton Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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