Forging Lubricants Market

Forging Lubricants Market Outlook (2022-2032)

The global forging lubricants market experienced growth at the rate of 1.2% CAGR between 2017 and 2021 to reach a market valuation of US$ 5.8 billion at the end of 2021. Worldwide demand for forging lubricants is predicted to increase at 3.7% CAGR to reach US$ 8.7 Billion by 2032-end.

Consumption of water-based forging lubricants grew 0.5% to reach US$ 764.9 million in 2021. High focus of manufacturers on water-based lubricants is anticipated to add value to the overall market space.

Report Attributes	Details
Forging Lubricants Market Size (2021A)	US$ 5.8 Billion
Estimated Market Value (2022E)	US$ 6 Billion
Forecasted Market Value (2032F)	US$ 8.7 Billion
Global Market Growth Rate (2022-2032)	CAGR 3.7%
North America Market Share (2021)	~25.9%
North America Market Growth Rate (2022-2032)	3.0% CAGR
U.S. Market Growth Rate (2022-2032)	3.0% CAGR
Market Share of Top 5 Companies	~26.2%
Key Companies Profiled	Henkel Corporation Chem-Trend L.P Quaker Chemical Corporation Houghton International Inc. Moresco Corporation The Hill and Griffith Company CONDAT Group Chemtool Incorporated Fuchs Lubritech GmbH Molygraph Engineered lubricants APV Engineered Coatings James Durrans Group Chem Arrow Corporation Acme Refining LLC Lubgraf Synoils Advanced Technical Products Hardcastle Petrofer Pvt. Ltd Pyroflux

Sales Analysis of Forging Lubricants (2017-2021) Vs. Market Outlook (2022-2032)

As per detailed market analysis by Fact.MR, a market research and competitive intelligence provider, market value for forging lubricants increase at a CAGR of around 1.2% during the past five years. Developed countries such as the U.S., France, Germany, and Italy held a significant share in the global market.

Defense equipment demand is expanding as governments across the world focus on military modernization in response to rising global security concerns. Global defense expenditure is anticipated to increase rapidly over the next five years due to uncertainties and the continued complexity of the international security situation.

Furthermore, there are signs of restoring sales of automobiles in China, where the government has delayed the implementation of the China 6 emission standard and started providing taxation support to stimulate growth during the fiscal year 2021-2022.

Alongside developed countries, China has remained one of the primary consumers of forging lubricants owing to prime automobile manufacturing bases in the country that require these lubricants for specialized forging operations.

Worldwide demand for forging lubricants, which find usage across diverse end-use verticals, is poised to reach US$ 8.7 billion by 2032 as compared to US$ 5.8 billion at the end of 2021.

What’s Majorly Driving Sales of Forging Lubricants?

“Emergence of Sophisticated Forging Dies”

Over the long-run projection period, several factors are anticipated to drive the demand for forging lubricants. Die life has started to exceed previously set numbers. Moreover, in complex dies, a huge volume of raw materials is introduced. As a result of the dies' intricacy, not all areas of the dies are uniformly cooled.

A variety of sophisticated forging dies are being developed to improve the efficiency of parts, resulting in the deposition of materials in complex geometries, again requiring forging lubricants in the process.

“High Usage in Forging Machines to Maintain Temperature and Remove Residue”

Forging machines operate at extremely high temperatures, necessitating the use of forging lubricants that not only maintain the appropriate die temperature but also effectively remove lubricant residue and aid in achieving the desired mould performance.

Additionally, rising technical obligations in the process of forging operations have paved the way for the utilization and integration of advanced forging lubricants.

Owing to the above-mentioned factors, the forging lubricants market is projected to provide an absolute $ opportunity of US$ 2.9 billion during the forecast period of 2022-2032.

Country-wise Analysis

Why are Forging Lubricant Suppliers Focusing on the United States?

The U.S. has remained a prominent market for forging lubricant sales and accounted for nearly 89% of North America’s market share in 2021. The market is anticipated to expand at a CAGR of 3% during the forecast period. This is because the U.S. remains one of the major contributors to the automobile and defense manufacturing industries.

The U.S. is one of the largest manufacturers of automobiles, second only to China. Additionally, a plethora of automobile manufacturers has set up their bases in the country to serve the growing demand for the technologically-advanced automobiles with changes in CAFE standards.

Additionally, the U.S. has a strong defense budget and its total defense spending amounted to US$ 733 billion in 2021. This trickled down to an escalation in forging lubricant sales that find usage in forging sophisticated defense equipment and components for aircraft and vehicles.

Based on the above-listed factors, the U.S. is forecasted to remain the epicenter of growth during the forecast period and create an absolute $ opportunity of US$ 536.8 million by 2032.

Why is France a Lucrative Market for Forging Lubricants in Europe?

France is estimated to account for above one-fourth of the European market value in 2022. This is primarily because France has remained the second-largest exporter of aircraft and related aerospace equipment during the past decade.

Airbus, Dassault Aviation, ATR, and Arianespace are some of the top aircraft manufacturers that have set up their bases in the country. In addition to aircraft manufacturing, France is home to a plethora of automobile manufacturers and has been a key contributor to automobile production in Europe.

Owing to the above-mentioned factors, France is poised to account for a sizeable consumption of forging lubricants during the forecast period, and the market is anticipated to expand at a CAGR of around 3% through 2032. It is further estimated to create an absolute $ opportunity of US$ 155.4 million over the next ten years.

Category-wise Analysis

Why are Water-based Forging Lubricants the Preferred Choice of End Users?

Owing to the plethora of benefits offered by water-based forging lubricants, they have emerged as the preferred lubricant of choice accounting for over 50% market share in 2021, with the segment anticipated to expand at a CAGR of 4.2%.

Water-based forging lubricants, especially water-based graphite, offer superior operational performance and are easier to clean off. Besides, these water-based graphite lubricants offer great visibility to the operator as compared to translucent coatings which are difficult to observe. Further, water-based graphite lubricants are usually diluted with water and are odour-free.

Additionally, graphite-based lubricants are competitively priced and relatively inexpensive as compared to oil- and coating-based forging lubricants. Furthermore, water-based graphite lubricants offer better tool protection and do not evaporate easily, which is the case with some coating- and synthetic-based forging lubricants.

As such, water-based forging lubricant demand is poised to remain consistent and create an absolute $ opportunity of US$ 1.7 billion by 2032.

Which process has predominantly been used by end-users of forging lubricants?

Hot forging application consumed over 50% of forging lubricants as of 2021 and is poised to remain the preferred forging type among end users over cold forging application. This is because certain desired benefits and operational characteristics of the end product can only be obtained by hot forging.

Hot forging generally refers to the process of heating a workpiece to roughly 3/4 of its melting temperature. This decreases the flow stress and required energy level to produce metal, helping increase the pace of production. Further, hot forging makes it easier to shape the metal and makes it less prone to fracture.

Cold forging is a manufacturing procedure that increases a metal's strength by strain hardening it at room temperature. The hot forging production technique, on the other hand, prevents materials from strain hardening at high temperatures, resulting in high strength of yields, high ductility, and low hardness.

The hot forging segment is poise to expand at a CAGR of 3.8% and create an absolute $ opportunity of US$ 1.7 billion over the decade.

Competition Landscape

Henkel Corporation, Chem-Trend L.P., Quaker Chemical Corporation, Houghton International Inc., Moresco Corporation, The Hill and Griffith Company, CONDAT Group, Chemtool Incorporated, Fuchs Lubritech GmbH, Molygraph Engineered lubricants, APV Engineered Coatings, James Durrans Group, Chem Arrow Corporation, Acme Refining LLC, Lubgraf Synoils, Advanced Technical Products, Hardcastle Petrofer Pvt. Ltd., Pyroflux, and Sunrise Chemtech Pvt. Ltd are leading forging lubricant manufacturers.

Fact.MR has given information in detail about the various strategies adopted by companies operating in the forging lubricants market, along with detailed overviews of the sales analysis of forging lubricants, top forging lubricant manufacturers, top water-based forging lubricant suppliers, including SWOT analysis and sales generated from manufacturers positioned across geographies.

Key Segments in Forging Lubricants Industry Survey

• Forging Lubricants Market by Product Type :

  • Water-based Forging Lubricants
    • With Graphite
    • Without Graphite
  • Oil-based Forging Lubricants
    • Graphite Oil
    • Others
  • Coating-based Forging Lubricants
    • Glass Powder
    • Frit
    • Enamel
    • Dry Molybdenum
    • Phosphates

• Forging Lubricants Market by Forging Material :

  • Aluminium
  • Steel
  • Bronze
  • Brass
  • Titanium Alloy
  • Nickel
  • Super Alloys
  • Others

• Forging Lubricants Market by Process Type :

  • Hot Forging
  • Cold Forging

• Forging Lubricants Market by Forging Operation :

  • Mechanical Press
  • Hydraulic Presses
  • Hammers
  • Circular & Radial Rolling Mill
  • Horizontal Press
  • Others

• Forging Lubricants Market by Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South East Asia & Oceania
  • Middle East & Africa