According to a recent market report by Future Market Insights (FMI), the worldwide automotive die casting lubricants market is anticipated to reach US$ 118.4 Mn in 2021, rising at a 4.1 percent CAGR over the assessment period. Global demand for automotive die casting lubricants increased 3.8 percent year over year (YoY) in 2021, reaching 28,138 tonnes, according to an analysis of the industry.
Growing demand for lightweight automotive vehicles, coupled with increasing research and development initiatives intended at developing eco- friendly automotive die casting lubricants are identified chief growth factors.
Rising automobile sales, backed by a growing urban population, will boost demand for automotive die casting lubricants over the forecast period. Furthermore, the growing trend of sustainability and a focus on energy-saving measures is projected to enhance sales of automobile die casting lubricants.
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There is a high demand for fuel-efficient and lightweight automobiles due to severe carbon emission regulations. As lightweight cars, aluminum, magnesium, zinc, and other non-ferrous materials are becoming increasingly significant in the automotive industry. The market for automotive die casting lubricants is predicted to grow as a result of these factors.
However, lightweight materials with good mechanical strength are comparatively more expensive than conventional materials. The high costs associated with these materials will impact the profit margins and hinder sales of automotive die casting lubricants in the forthcoming years.
FMI’s in-depth regional analysis projects the U.S. to dominate the North American die casting lubricants market, owing to the presence of key market players and robust automotive sector. Expanding at a 3.5% CAGR, the U.S. is anticipated to capture 91.0% of the North American die casting lubricants market share.
“Government-led initiatives encouraging the production and sales of electric vehicles, coupled with increasing research and development efforts to develop sustainable automotive die casting lubricant materials will continue augmenting market growth through 2031,” says the FMI analyst.
Key Takeaways from Automotive Die Casting Lubricants Market Study
- Based on lubricant type, die casting lubricants will dominate the segment, holding 94% of the total revenue generated.
- Sales of water-based lubricants is projected to grow at a 4.3% CAGR.
- Aluminum will emerge as the most-preferred material type, accounting for 75% of the total market share.
- The U.S. will continue dominating the North American automotive die casting lubricants market, growing at a 3.5% CAGR.
- China will emerge as an attractive automotive die casting lubricants market, reaching a valuation of US$ 31.5 Mn in 2021.
- Germany will continue witnessing high demand for automotive die casting lubricants, accounting for 28% of the European market share.
Automotive Die Casting Lubricants Market: Participant Insights
Henkel AG & Co. KGaA, Chem-Trend LP, Quaker Houghton Inc., Moresco Corp., The Hill, and Griffith Company, Geiger + Co. Schmierstoff-Chemie GmbH, Ultraseal India Pvt. Ltd, CHEMTOOL INCORPORATED, Condat SA, Hardcastle Petrofer Pvt. Ltd, Sunocs LLC, J&S Chemical Corporation, Lubgraf Synoils Pvt. Ltd., Aoki Science Institute Co., Ltd, Falcon Industrial Inc, Lafrance Manufacturing, Marbo Italia spa, Sunrise Chemtech Pvt. Ltd, Acme Refining LLC are some of the leading players operating in the global automotive die casting lubricants market.
As per FMI, top 5 players comprise Henkel AG & Co. KGaA, Quaker Houghton Inc., Moresco Corp., Condat SA, and Chemtool Incorporated, accounting for approximately 50-60% of the total market share.
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Automotive Die Casting Lubricants Market by Category
By Lubricant Type:
- Die-Casting Lubricant
- Plunger Lubricant
By Type:
- Water-based
- Solvent Based
- Other
By Die-Casting Material:
- Aluminum
- Magnesium
- Zinc
- Other
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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