Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The "Automotive Die Casting Lubricants Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive die casting lubricants market is reached US$ 120 million in 2021 and is anticipated to grow at a CAGR of 4.3% during the forecast period of 2022 to 2030.
Chief growth reasons have been highlighted as a growing demand for environmentally friendly automotive die casting lubricants and an increase in the number of research and development projects aimed at creating environmentally friendly automotive die casting lubricants. The increasing economic advancements and the rising purchasing power of customers are the primary drivers of the rising demand for automobiles.
Nevertheless, rising prices at the pump are driving people to choose automobiles with better gas mileage. When compared to forged components, the strength-to-weight ratio of automotive components produced through die casting is significantly higher. This, in turn, is driving sales of automotive die casting lubricants over the projection period.
In addition, the automotive industry generates a significant need for designs that are extremely precise and accurate in terms of dimensions. Die casting is a technology that can produce components with high precision and dimensional accuracy, which is pushing its uses in the automobile sector. Die casting is also known as investment casting.
Key Market Drivers Impacting the Market Growth Positively
Lubricants are necessary for effective thermal management in the die casting procedure because they absorb temperature and prevent the process from becoming too hot. As a consequence of these aspects, it is anticipated that the demand for die casting lubricants will skyrocket during the course of the evaluation period.
Additionally, there has been an increased emphasis placed on producing sustainable and environmentally friendly goods, which has led to an increase in the market for automotive die casting lubricants. Because of increasingly stringent rules on carbon emissions, there is a growing need for automobiles that are both lightweight and fuel-efficient. This desire has led to a growth in the number of applications for the die casting technique.
Significant Opportunities during the Forecast Period
Automotive die casting lubricants manufacturers are anticipating the creation of numerous opportunities as a result of the myriad of governmental regulations designed to encourage the manufacturing and retail sale of automobiles in developing economies such as Mexico, Turkey, India, and other South-East Asian nations.
Demand for lightweight material-based components, such as aluminium, is being driven by the push toward energy efficiency in automobiles and the adoption of electric vehicles. This is creating a lucrative growth prospects for industry players in the automotive die casting lubricants market. A number of different government-led projects in countries such as India, Turkey, Iran, and Morocco will make it possible for players wishing to expand their production facilities to take advantage of potentially lucrative prospects.
It is anticipated that the market for automotive die casting lubricants would expand during the forecast period as a result of the aforementioned initiatives as well as the growing number of foreign investments in emerging nations.
In-depth Segment Analysis
- Die-casting lubricants and plunger lubricants are the two lubricant categories covered in the report. According to the findings of the report, the market for die-casting lubricants held about 95% of the revenue share in 2021. Die-casting lubricants are anticipated to continue this dominance even during the forecast period of 2022 to 2030.
- It is anticipated that the demand for water-based lubricants will increase at a CAGR of 4.3% during the forecast period of 2022 to 2030as a result of a changing trends with respect to customer preference toward environmentally friendly products. Governments across the globe has created increased awareness about eco-friendly solutions and have framed stringent regulations pertaining to decarbonization.
- Aluminium is abundantly available which contributes to the metal's lower cost in comparison to its competitors. Aluminium's widespread use in casting components is being propelled by the material's exceptional strength-to-weight ratio.As a consequence of this, it is anticipated that aluminium will become the most popular type of material to use, owning 75% of the revenue share in 2021.
North America Market Dominates in Terms of Market Revenues
North America held the largest revenue share in 2021. It is also anticipated that North America will continue to be one of the most appealing markets during the forecast period. It is expected that the U.S. will maintain its position as the dominant player in the automotive die casting lubricants market in North America. With respect to European market Germany was responsible for around 25% of the market share (within Europe) in 2021. A significant presence of a large number of manufacturers of automobile components in the country is continually encouraging more manufacturers to establish or expand their production facilities in Germany. It is projected that the intensive research and development activities, in addition to the country's availability to cutting-edge technology and resources, will bode well for the automotive die casting lubricants industry.
Market Consolidation Presents Cut-Throat Competition
The industry is extremely consolidated, with only a few companies holding the majority of market share.The primary market participants in the worldwide automotive die casting lubricants market are concentrating their efforts on product development, the introduction of new and innovative products, and the expansion of their market share in developing economies through strategic acquisitions and mergers. Top five market players that include Henkel AG & Co. KGaA, Quaker Houghton Inc., Moresco Corp., Condat S.A., and Chemtool Incorporated hold more than 50% of the market share.
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Automotive Die Casting Lubricants market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Automotive Die Casting Lubricants market?
- Which is the largest regional market for Automotive Die Casting Lubricants market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Automotive Die Casting Lubricants market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Die Casting Lubricants market worldwide?
Key Topics Covered:
1. Preface
2. Executive Summary
3. Automotive Die Casting Lubricants Market: Business Outlook & Market Dynamics
3.1. Introduction
3.2. Global Automotive Die Casting Lubricants Market Value, 2020 - 2030, (US$ Million)
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraints
3.3.3. Key Challenges
3.3.4. Key Opportunities
3.4. Impact Analysis of Drivers and Restraints
3.5. See-Saw Analysis
3.6. Porter's Five Force Model
3.6.1. Supplier Power
3.6.2. Buyer Power
3.6.3. Threat Of Substitutes
3.6.4. Threat Of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTEL Analysis
3.7.1. Political Landscape
3.7.2. Economic Landscape
3.7.3. Technology Landscape
3.7.4. Legal Landscape
3.7.5. Social Landscape
3.8. Heptalysis Analysis
3.9. Critical Investigation of Business Problems Through Five Whys Root Cause Analysis & Relevant Solutions
4. Automotive Die Casting Lubricants Market: By Lubricant Type:, 2020-2030, USD (Million)
4.1. Market Overview
4.2. Growth & Revenue Analysis: 2021 Versus 2030
4.3. Market Segmentation
4.3.1. Die-Casting Lubricant
4.3.2. Plunger Lubricant
5. Automotive Die Casting Lubricants Market: By Type:, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Water-based
5.3.2. Solvent Based
5.3.3. Other
6. Automotive Die Casting Lubricants Market: By Die-Casting Material:, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Aluminum
6.3.2. Magnesium
6.3.3. Zinc
6.3.4. Other
7. North America Automotive Die Casting Lubricants Market, 2020-2030, USD (Million)
8. UK and European Union Automotive Die Casting Lubricants Market, 2020-2030, USD (Million)
9. Asia Pacific Automotive Die Casting Lubricants Market, 2020-2030, USD (Million)
10. Latin America Automotive Die Casting Lubricants Market, 2020-2030, USD (Million)
11. Middle East and Africa Automotive Die Casting Lubricants Market, 2020-2030, USD (Million)
12. Company Profile
12.1. Henkel AG & Co. KGaA
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. Quaker Houghton Inc.
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Moresco Corp.
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. Condat S.A.
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Chemtool
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiative
For more information about this report visit https://www.researchandmarkets.com/r/mgmh8c
