Rockville, MD , Dec. 05, 2024 (GLOBE NEWSWIRE) -- The global Automotive Die Casting Lubricant Market is estimated to reach US$ 125.6 million in 2024 and expand at a consistent 3.7% CAGR through 2034. The market is forecast to attain a valuation of US$ 180.6 million by 2034.
Increasing investments in vehicles in developed and developing countries are raising the demand for die casting, a critical process in manufacturing different automotive components. As the deployment of die casting surges, so does the demand for lubricants, particularly formulated for die casting in the automotive sector.
Surging advancements in die casting technology, like vacuum die casting and high-pressure casting, are breaking the set boundaries. These advancements need specialized lubricants that can effectively endure higher temperatures, pressures, and casting speeds while ensuring component quality and optimal performance. Thus raising the demand for advanced automotive die casting lubricants.
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Key Takeaways from the Automotive Die Casting Lubricant Market Study:
- In 2019, the automotive die casting lubricant market gained a valuation of US$ 104.7 million.
- The East Asia market is expected to obtain a value share of 36.5% in 2024. The regional market is estimated to gain US$ 45.8 million in 2024. By 2034, the market is forecast to reach US$ 69.3 million, expanding at a CAGR of 4.2%.
- The North America market is predicted to acquire a share of 28.6% in 2024. The region is estimated to attain a market valuation of US$ 35.9 million in 2024 and is predicted to accelerate at a CAGR of 3.8% thereon. The market is forecast to attain US$ 52.5 million by 2034.
- The water-based automotive die casting lubricant is predicted to capture a 31.5% share in 2024. The segment is estimated to attain revenue worth US$ 39.6 million in 2024. By 2034, the segment is forecast to achieve sales that total US$ 59.2 million.
”Opportunities for market players continue to emerge as governments mandate regulations in favor of electric vehicles," says a Fact.MR analyst.
Leading Players Driving Innovation in the Automotive Die Casting Lubricant Market:
Key players in the automotive die casting lubricant market include Henkel AG & Co.KGaA, Chem-Trend LP, Quaker Houghton Inc., MORESCO Corporation, 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 Srl, Sunrise Chemtech Pvt. Ltd., and Acme Refining LLC, among others.
Competitive Landscape:
Key players are competing for a larger market share by organic as well as inorganic methodologies. A few of them include market expansion, mergers and acquisitions, new launches, product diversification, etc.
An article published in October 2023 indicates an increase in auto manufacturers shifting to gigacasting over conventional metal sheet fabrication. The recently made available prototype of gig casting equipment by Toyota, a die-casting process, offers to drastically reduce manufacturing lead time, production processes, and plant investment. This brings the company near its objective of producing 3.5 million EVs/ year by 2030.
In January 2024, Xiaomi launched its first-ever EV car, called Xiaomi SU7, at a launch event for electric vehicle technology. The event successfully exhibited five main technologies of Xiaomi's electric vehicle, including die casting, eMotor, pilot autonomous driving, battery, and smart cabin. The company positions the car as a full-size, high-functioning eco-technology sedan, intending to push the limits of ecosystem, performance, and mobile smart space.
Automotive Die Casting Lubricant Industry News:
- With the launch of a new product line named YESKOTE in May 2023, Yeskomalube—which has been recognized as India's Promising Brand for Forging Lubricant Manufacturing—proudly announced its entry into the casting market. At the Globe-Tech Engineering Expo 2023 in Pune, the technology was introduced. Today, the business provides a wide variety of die coatings designed for high-pressure, low-pressure, and other die casting lubrication applications.
- The Indian auto parts maker Sandhar Technologies announced in March 2021 that it will be establishing a factory unit in Romania to produce die-cast aluminum parts for windshield wipers and seat belt retractor spindles.
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Segmentation of Automotive Die Casting Lubricant Market Research:
- By Type:
- Solvent Based
- Water Based
- Others
- By Region:
- North America
- Europe
- Latin America
- East Asia
- South Asia and Oceania
- The Middle East and Africa
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