According to the global automotive die casting lubricants market report by IMARC Group, the market reached a value of size reached US$ 1.1 Billion in 2022, and it is projected to reach a value of US$ 1.4 Billion by 2028, exhibiting a CAGR of 4% during 2023-2028.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is a the Automotive Die Casting Lubricants Market?
An automotive die-casting lubricant is a substance used to reduce friction and wear between surfaces during the metal casting process. It is made from special synthetic oils and greases, which are designed to lubricate the dies and molds and withstand the high temperatures and pressure involved in die-casting. It is available in solvent and water-based variants that protect components from numerous problems such as in-cavity buildup, cold shut, fish eye, and porosity. It also offers bright castings with less gas generation and decreases the corrosion and pitting of the mold surface. As a result, automotive die-casting lubricants are widely utilized in the automotive industry across the globe.
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What are the major market drivers in a Automotive Die Casting Lubricants Market?
The market is primarily driven by the escalating demand for die-cast components in vehicles with lightweight metals such as aluminum and magnesium. In addition, the shifting consumer preferences toward products made through die casting and the increasing automobile sales on account of the rising disposable income of consumers are contributing to the market growth.
Moreover, various government agencies are providing numerous subsidies and financial aids to encourage the production and sales of electric vehicles (EVs) to curb carbon emissions representing another major growth-inducing factor. Besides this, the emerging popularity of high-pressure die casting and the widespread adoption of plunger lubricants are providing a positive thrust to the market growth. The market is further propelled by the extensive investment by key players in research and development (R&D) activities to introduce sustainable and eco-friendly products.
Who Are The Major Key Players in automotive die casting lubricants market?
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.
Report Segmentation:
The report has been segmented the market into 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
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
Key Questions Answered in the Global automotive die casting lubricants Market Report
• How has the global automotive die casting lubricants industry performed in the past and how will it perform in the near future?
• What is the impact of COVID-19 on the global automotive die casting lubricants market?
• What are the key regions in the global automotive die casting lubricants industry?
• What are the major driving factors and challenges in the global automotive die casting lubricants market?
• What is the structure of the global automotive die casting lubricants industry and who are the leading players?
• What is the degree of competition in the market?
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