The global automotive die casting lubricants market is expected to reach US$ 118.4 Mn in 2021, according to a recent market analysis by Future Market Insights (FMI), growing at a 4.1 percent CAGR over the assessment period. According to an analysis of the automotive die casting lubricants business, global demand climbed 3.8 percent year over year (YoY) in 2021, reaching 28,138 tonnes.
Over the projection period, rising automobile sales, fueled by a growing urban population, would boost demand for automotive die casting lubricants. Furthermore, sales of automotive die casting lubricants are likely to benefit from the growing trend of sustainability and a focus on energy-saving measures.
Due to strict carbon emission rules, there is a great demand for fuel-efficient and lightweight automobiles. Aluminum, magnesium, zinc, and other non-ferrous elements are becoming increasingly important in the automotive industry as lightweight vehicles. These reasons are expected to boost the market for automotive die casting lubricants.
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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.
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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.
About the Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analyses of the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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