New york, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Demand for Automotive Die Casting Lubricants from various end use industries is growing substantially over the past few decades and the growth is expected to continue in next few years due to increasing demand for vehicles globally. PMR has estimated the global automotive die casting lubricants market to reach a valuation of US$ 127.7 Mn in 2023. Sales prospects of Automotive Die Casting Lubricants is expected to witness a steady growth rate of 3.8% and is expected to top a valuation of US$ 185.4 Mn by 2033.
In the die casting process, which is automated, a molten metal is injected into a mold with high pressure and speed. Automotive die casting lubricants are chemicals used to reduce friction between surfaces during this metal casting process. These lubricants can be categorized into water-based and solvent-based types, both serving the purpose of protecting parts from various issues like porosity, in-cavity accumulation, cold shut, among others. Additionally, they help prevent corrosion and pitting of the mold surface and result in high-quality castings with reduced gas production
The requirement of lightweight components in the automotive industry has led to an increase in the application of die-cast components in vehicles. Further, the use of lightweight metals, such as aluminum and magnesium, has increased in the automotive industry, and are likely to continue the high growth rate in the forecast period. For the manufacturing of components, with these materials, manufacturers are increasingly opting for HPDC, due to its compliance with features, like high-quality and ease of manufacturing complex shapes.
The market for plunger lubricants is forecast to be the fastest-growing market under die casting lubricants, fueled by the spike in demand for high-pressure die casting, especially from the automotive industry.Die-based lubricants are estimated to account for the majority of the market, due to the extensive usage of die release lubricants.
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Automotive Die Casting Lubricants Market Report Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 127.7 Mn | |
| Estimated Revenue 2033 | US$ 185.4 Mn | |
| Growth Rate – CAGR | 3.8% | |
| Forecast Period | 2023-2033 | |
| No. of Pages | 235 Pages | |
Key Market Segments Covered |
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Regions Covered |
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Key Companies Profiled |
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Automotive Die Casting Lubricants: Market Dynamics
Drivers:
The automotive die casting lubricants market experiences robust growth driven by several pivotal factors. Firstly, the surging demand for lightweight automobiles takes center stage as a primary catalyst. As vehicle manufacturers seek to enhance fuel efficiency and reduce emissions by decreasing vehicle weight, lightweight materials like aluminum are increasingly used in various automotive components. This shift propels the demand for die casting processes, where automotive die casting lubricants play a pivotal role in ensuring efficient and top-quality production.
Secondly, there is a distinct focus on research and development endeavors geared toward creating environmentally friendly automotive die-casting lubricants. Growing environmental concerns and stringent regulatory standards have prompted manufacturers to actively pursue lubricants that are not only effective but also sustainable and eco-friendly. This drive toward eco-conscious solutions is driving innovation and the adoption of lubricants aligned with sustainability objectives.
Furthermore, the expansion of the automotive industry in emerging economies such as Mexico, Turkey, India, and various South-East Asian nations presents substantial opportunities for manufacturers of automotive die-casting lubricants. Governmental regulations and incentives aimed at boosting automobile production and sales in these regions are attracting investments and fostering the demand for high-quality lubricants in the die casting process.
In summary, the automotive die casting lubricants market is experiencing upward momentum due to the growing preference for lightweight materials, the quest for eco-friendly solutions, and the burgeoning automotive sector in emerging markets. These factors collectively render it a dynamic and evolving market with significant potential for manufacturers and suppliers.
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Restraints:
While the automotive die casting lubricants market offers promising growth opportunities, it is not immune to certain challenges and limitations. Firstly, environmental sustainability is a significant concern. Although there is a growing demand for eco-friendly lubricants, the transition to such products can be intricate and costly for manufacturers. The development and adoption of greener alternatives often necessitate extensive research and development efforts, potentially leading to higher production costs, which can impact the market's overall cost structure.
Secondly, the automotive industry's shift towards electric vehicles (EVs) presents a distinctive challenge. EVs typically incorporate fewer metal components and rely less on traditional die casting processes compared to internal combustion engine vehicles. As the adoption of EVs continues to rise, there might be a gradual decrease in the demand for automotive die casting lubricants. Manufacturers must adapt to this evolving landscape and explore opportunities within the EV sector.
Automotive sector is highly cyclical and susceptible to economic fluctuations. Economic downturns or uncertainties can result in reduced automobile production, subsequently affecting the demand for die casting lubricants. The industry's vulnerability to global economic conditions can pose obstacles to market stability and growth.
stringent regulatory standards and compliance requirements in various regions can act as a restraint. Navigating and adhering to diverse regulatory frameworks can be intricate for manufacturers operating in multiple markets. Meeting these standards may entail additional investments and adjustments to product formulations, potentially impacting the market's competitiveness.
In conclusion, while the automotive die casting lubricants market exhibits substantial potential, it encounters challenges related to environmental sustainability, shifts in the automotive landscape, economic volatility, and regulatory complexities. Successfully addressing these challenges will necessitate adaptability and innovative approaches within the industry
Opportunities:
The implementation of governmental regulations aimed at bolstering the automotive industry in emerging economies such as Mexico, Turkey, India, and various nations in South-East Asia is expected to open up significant opportunities for automotive die-casting lubricant manufacturers.
The increasing focus on vehicle energy efficiency and the growing adoption of electric vehicles are fueling the demand for lightweight materials, particularly aluminum-based components. This trend is creating promising growth prospects for participants in the automotive die-casting lubricants market. Furthermore, government-backed investments in countries like India, Turkey, Iran, and Morocco present appealing opportunities for companies looking to expand their production facilities.
Thanks to these initiatives and the increasing influx of foreign investments in emerging economies, the automotive die-casting lubricants market is poised for substantial growth in the years to come
Trends :
The die casting lubricant market has been segmented into aluminum & magnesium, tin, lead and zinc, copper, and brass, based on the metal used in the die casting process. Die-cast lubricants for aluminum and magnesium materials accounted for over 65% of the market, due to the high adoption of the materials, and the already matured usage of aluminum in the automotive industry. The lubricants for aluminum and magnesium are forecast to be the fastest-growing market, fuelled by still growing adoption of aluminum and rapid increase in usage of magnesium in vehicles. The market of die-cast lubricants is expected to increase, mirroring the growth in the share of aluminum in vehicles. Also, the increase in the use of magnesium is also expected to drive the market over the forecast period.
Competitive Landscape
Many companies have been actively involved in various initiatives, including forming strategic partnerships, expanding their production capacities, developing new products, making acquisitions, and establishing new entities to boost their manufacturing capabilities. Additionally, industry leaders are focusing on acquiring competing firms as part of their efforts to broaden their customer base.
For example:
- In December 2020, Quaker Houghton Inc., a privately held U.S. manufacturer specializing in metal finishing fluid solutions, completed the acquisition of Coral Chemical Company.
- In May 2020, Quaker Houghton Inc. acquired Tel Nordic ApS, an engineering company specializing in high-pressure aluminum die casting throughout Europe, the Middle East, and Africa, with a primary focus on lubricants.
Key Players:
- 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
Category-wise Insights
What Lubricant Type Dominates the Automotive Die Casting Lubricants Market?
In terms of lubricant type, the global Automotive Die Casting Lubricants market is divided into die-casting lubricants and plunger lubricants. Die-casting lubricants take the lead in the global Automotive Die Casting Lubricants market, accounting for a substantial 94% of the market's value shares.
The preferred lubricant type within the automotive die-cast lubricants market is die-cast lubricants. Anticipated to witness robust growth of 4% in 2022, Die Casting Lubricants are set to bolster the Automotive Die Casting Lubricants market significantly.
As per an analysis by Persistence Market Research, the Plunger Lubricant category is expected to experience a 3.2% increase in demand between 2022 and 2023. This growth, coupled with the prominence of die casting in producing lightweight and precision automotive components, is forecasted to drive a combined annual growth of 4.1% in the Automotive Die Casting lubricants market for 2022.
What Type of Automotive Die Casting Lubricants Leads the Market?
When categorized by type, the global automotive die casting lubricants market comprises solvent-based, water-based, and other lubricants. Water-based die-casting lubricants dominate the global automotive die casting lubricants market, capturing over 82% of the market's value shares.
According to Persistence Market Research, water-based lubricants hold the upper hand due to their superior vaporization capacity compared to other solvents. As temperatures rise, water evaporates, generating a cooling effect and effectively maintaining the desired temperature during production.
With these advantages, water-based lubricants are projected to maintain their dominance in the automotive die casting lubricants market throughout the forecast period, exhibiting a notable CAGR of 4.5% from 2023 to 2033.
Which Material Prevails in Automotive Die Casting?
Regarding material, the global automotive die casting lubricants market is segmented into die casting materials like aluminum, magnesium, zinc, and others. Aluminum-based die-casting material takes the lead in the global automotive die casting lubricants market, commanding a share of more than 75% in market value.
Aluminum stands out as the predominant metal for manufacturing vehicle components. Its cost-effectiveness, excellent strength-to-weight ratios, and malleability make it a preferred choice. Furthermore, aluminum can be intricately shaped with precision, making it ideal for crafting intricate geometrical designs. Its abundant availability in nature further cements its status as the go-to metal for producing lightweight automotive components.
Segmentation:
Automotive Die Casting Lubricants Market Segmentation
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
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