New York, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global automotive die casting lubricants market will be worth US$127.7 million in 2023, according to Persistence Market Research. Automotive Die Casting Lubricants sales are expected to grow at a steady 3.8% annual rate, reaching a valuation of US$ 185.4 Million by 2033. The automotive industry plays a pivotal role in global manufacturing and economic development, with die casting being a crucial process in the production of automotive components.
Die casting involves injecting molten metal into a mold cavity under high pressure to create complex and precise components with tight tolerances. To facilitate this process and ensure the quality of the cast parts, lubricants are utilized to reduce friction, control temperature, and prevent metal sticking.
Die casting lubricants are essential in enhancing the efficiency, quality, and cost-effectiveness of the die casting process. These lubricants enable the seamless ejection of components from molds, prolong tool life, and maintain dimensional accuracy. As the automotive industry continues to evolve, with increasing demands for lightweight materials, energy efficiency, and high-performance vehicles, the role of die casting lubricants has become even more critical.
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Importance of Die Casting Lubricants
Die casting lubricants serve several crucial purposes within the die casting process:
Reducing Friction: Friction between the molten metal and the mold surfaces can cause defects, excessive wear on molds, and uneven cooling. Lubricants form a barrier between the metal and mold, reducing friction and promoting smooth ejection.
Thermal Management: Die casting lubricants assist in managing the temperature of the die and the molten metal. They prevent overheating and uneven cooling, ensuring consistent component quality and mold durability.
Metal Flow: Lubricants facilitate the proper flow of molten metal within the mold cavity, ensuring that all intricate details of the component are accurately replicated.
Surface Finish: The use of lubricants can improve the surface finish of die-cast parts by reducing imperfections and defects caused by sticking or friction.
Market Drivers
- Growing Automotive Industry: The global automotive industry's expansion, driven by increasing consumer demand for vehicles and technological advancements, fuels the demand for die cast components, consequently boosting the need for high-performance lubricants.
- Evolving Manufacturing Processes: Die casting technology is constantly evolving to meet the demands of lightweighting, precision, and efficiency. Lubricant manufacturers are innovating to provide solutions that match these evolving processes.
- Environmental Regulations: Stringent environmental regulations have led to the development of eco-friendly die casting lubricants that reduce harmful emissions and waste. The adoption of such lubricants aligns with industry sustainability goals.
- Demand for High-Quality Components: As automotive manufacturers seek to produce high-quality, durable components, the role of effective die casting lubricants in ensuring defect-free parts becomes increasingly significant.
Market Challenges
- Environmental Concerns: Traditional die casting lubricants can pose environmental risks due to the use of hazardous chemicals. The industry is gradually shifting toward more sustainable and biodegradable lubricant solutions.
- Fluctuating Raw Material Prices: The prices of raw materials used in lubricant manufacturing can be volatile, affecting production costs and overall market stability.
- Technological Competition: Alternative manufacturing processes, such as additive manufacturing and advanced forging, compete with die casting, affecting the market's growth potential.
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Market Segmentations
- By Lubricant Type: Die-Casting Lubricants, Plunger Lubricants
- By Type: Solvent Based, Water Based, Others
- By Die Casting Materials: Aluminium, Magnesium, Zinc, Others
- By Region: North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa
Regional Analysis
In North America, the automotive die casting lubricants market is characterized by a mature automotive industry and a focus on advanced manufacturing technologies. The United States and Canada have a significant presence of automotive manufacturers and suppliers. However, the region has been experiencing a shift in automotive production towards electric vehicles (EVs) and lightweight materials. This shift impacts die casting lubricant requirements as EV components often have different casting needs. The demand for die casting lubricants is expected to remain stable due to the ongoing need for replacement parts and the resilience of the automotive aftermarket.
Asia-Pacific is the largest and fastest-growing region in the global automotive die casting lubricants market. Countries like China, Japan, South Korea, and India have emerged as major automotive manufacturing hubs due to lower labor costs and a growing middle-class population. The region's automotive industry is undergoing a transformation with a significant emphasis on EVs, which impacts die casting lubricant requirements.
Future Outlook
The future of the automotive die casting lubricants market is promising, driven by ongoing technological advancements, increasing demand for lightweight components, and a focus on sustainability. The market will likely witness a shift towards environmentally friendly lubricants, advanced formulations to meet evolving die casting techniques, and strategic partnerships between lubricant manufacturers and automotive OEMs.
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Competitive Landscape
The majority of businesses engaged in actions such as strategic partnerships, capacity growth, new product development, acquisitions, and the formation of new organisations to increase output. Market leaders are also interested in acquiring competitors in order to expand their consumer base.
Major players in the industry include: 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
Recent News
- Coral Chemical Company, a privately held manufacturer of metal finishing fluid solutions in the United States, was bought by Quaker Houghton Inc. in December 2020.
- In May 2020, Quaker Houghton Inc. acquired the lubricants and engineering firm Tel Nordic ApS, which specialises in high-pressure aluminium die casting throughout Europe, the Middle East, and Africa.
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