Automotive Die Casting Lubricant Market
Automotive Die Casting Lubricant Market by Type (Solvent Based, Water Based, and Others), By Region - Global Market Report (2024 to 2034)
Analysis of Automotive Die Casting Lubricant Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive Die Casting Lubricant Market Outlook (2024 to 2034)
The global automotive die casting lubricant market size is estimated to be valued at US$ 125.6 million in 2024. The market is projected to register a steady CAGR of 3.7% to accumulate a total of US$ 180.6 million in market revenue by 2034. The market is driven by increasing consumer choice for lighter vehicles and stringent policies limiting carbon emissions.
Increasing automobile sales, along with surging demand for renewable energy technologies, is predicted to create growth prospects for automotive die casting lubricant manufacturers. Further, measures to conserve energy are also expected to raise sales of automotive die casting lubricants.
Top Drivers that are Propelling Growth in the Automotive Die Casting Lubricant Market
- Increasing demand for automotive die casting lubricants in multiple end-use industries.
- Growth in lightweight automotive components is raising the sales of automotive die casting lubricants. Vehicle manufacturers are further demanding lightweight components owing to stern regulations imposed by governments of different nations regarding vehicle emissions, particularly in the countries of Europe and North America.
- Rising investments in fuel-efficient vehicles in emerging countries are increasing the use of lightweight components to boost fuel efficiency.
- Emerging demand for green technologies and high-performance automotive die casting lubricants.
- Increasing production of electric vehicles, supported by government-backed initiatives.
|Estimated Market Value (2024E)
|US$ 125.6 million
|Forecasted Market Value (2034F)
|US$ 180.6 million
|Projected Growth Rate (2024 to 2034)
|Water Based Segment Growth Rate (2024 to 2034)
|North America Market Share (2024)
|East Asia Market Share (2024)
|Leading Manufacturers Profiled in the Automotive Die Casting Lubricant Industry Report
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Which Trends are Guiding the Growth of the Automotive Die Casting Lubricant Market?
“Growing Demand for Eco-friendly Vehicle Components”
Eco-friendly products are becoming a preferred consumer choice due to increasing awareness about environment conservation and decreasing pollution to maintain good health. Demand for lightweight vehicles is thus experiencing a substantial increase as they emit low levels of emissions. Strict regulations for the promotion of eco-friendly products are propelling manufacturers to develop more sustainable products and adopt more sustainable manufacturing techniques.
“Increasing Purchase Rate for Hybrid Electric Cars”
Growing demand for 5G technology and hybrid electric cars are propelling the sales of automotive die casting lubricants. Printed circuit boards are increasingly being purchased as the use of electrodeposited copper foil in electric vehicles is rising. The development of new-age products for end-use sectors is expected to be advantageous for global manufacturers in the automotive die casting lubricant industry.
Which Challenges Constrain the Growth Prospects for Automotive Die Casting Lubricants?
“High Price of Lightweight Materials”
Lightweight products with good strength, such as magnesium, zinc, aluminum, and other non-ferrous metals, are relatively costlier than conventional metals. Due to their high cost, manufacturers gain reduced profit margins and are unable to offer competitive pricing. Thus losing a competitive edge in the market.
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Which Region Captures Massive Market Share?
“East Asia is Predicted to Possess Significant Portion of Automotive Die Casting Lubricant Market”
As per the market research of automotive die casting lubricants, the East Asia market is predicted to acquire a market share of 36.5% in 2024. In the same year, the region is estimated to gain US$ 45.8 million. By 2034, the region is forecast to achieve market revenue of US$ 69.3 million, recording a CAGR of 4.2% through the period.
The regional market is driven by the expanding automobile manufacturing industry. The increase in automobiles, which are in use across the region, is propelling the market growth. Countries like South Korea are predicted to be prospective markets for OEMs and aftermarket parts. Further, automobile component manufacturing is driven by increasing domestic vehicle production in South Korea.
The region is further expanding on account of increasing investment activities in the automotive industry. Furthermore, several automobile firms are planning investments in East Asia owing to higher growth prospects in the region. Increasing government-backed campaigns in the region is also expected to propel market growth.
How is North America Predicted to Perform?
“North America is Projected to Expand at a CAGR of 3.8%”
The North America automotive die casting lubricant market is estimated to obtain a value of US$ 35.9 million in 2024. By 2034, the region is forecast to attain US$ 52.5 million. By value share, the region is predicted to acquire a portion of 28.6% in 2024.
The regional market is driven by the increasing density of automotive component manufacturers in the region, which is attracting the leading players of the market in focus. In line with this, rising sales of electronic vehicles are expected to be beneficial for automotive die casting lubricant players. Increasing research and development activities, in addition to surging access to the latest technology and critical resources, is enhancing the market growth.
Which Country in North America is Expected to Capture Substantial Portion?
“The United States is Predicted to Capture 71.7% of North America Market”
The United States automotive die casting lubricant market is estimated to attain US$ 25.7 million in 2024 and is projected to expand at a CAGR of 4.1% through 2034. By 2034 end, the country is forecast to attain US$ 38.6 million.
The United States is anticipated to be an attractive market for automotive die casting lubricants. This can be attributed to rising sales of more passenger cars and favorable government policies, which are creating significant opportunities for market players to expand their business operations.
The American National Standards Institute (ANSI) and American Society of Mechanical Engineers have extremely high-quality standards for automotive die casting lubricants. The country provides significant prospects for the main market.
Which Country in East Asia is Predicted to Observe Significant Growth?
“China is Expected to Provide Considerable Growth Potential”
The China market is anticipated to acquire a value share of 56.9% of the regional market in 2024. The country is estimated to attain a valuation of US$ 26.1 million in 2024. By 2034, the market is forecasted to attain revenue worth US$ 39.7 million, recording a CAGR of 4.3%.
The market is being propelled by the increasing demand for automotive vehicles and, consequently, surging producers of automobiles. China is further projected to emerge as an attractive automotive die casting lubricant market to meet the increasing demand from the established automotive industry. Further, surging demand for lightweight components is expected to propel market growth.
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Which Automotive Die Casting Lubricant Type is Expected to Augment Market Growth?
“Water Based Automotive Die Casting Lubricants are Predicted to Witness Higher Sales”
The water-based lubricants are in high demand, resulting in a significant market share of 31.5% in 2024. The segment is estimated to gain US$ 39.6 million in 2024. By 2034, the market is forecast to be valued at US$ 59.2 million, recording a CAGR of 3.8%.
Increasing consumer preference for eco-friendly products owing to strict government regulations for decarbonization is predicted to propel demand for water-based lubricants. Significant use of water-based lubricants owing to their high vaporization capacity compared to other solvents is predicted to propel segment growth.
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.
Key players are employing strategic mergers and acquisitions to increase their revenue and geographical footprint. Further, players are following an expansion strategy as a key tactic to increase sales in the automotive die casting lubricants market. By investing in the production of innovative products, key players unlock future growth opportunities for the automotive die casting lubricant industry.
Recent Developments in the Automotive Die Casting Lubricant Market
- Yeskomalube, which has been acknowledged as India's Promising Brand for Forging Lubricant Manufacturing, proudly announced its foray into the casting segment with the introduction of a new product portfolio called YESKOTE in May 2023. The technology was unveiled at the Globe-Tech Engineering Expo 2023 in Pune. The company now offers an extensive range of die coatings, which are engineered for low-pressure, high-pressure, and other applications of die casting lubricants.
- In March 2021, Sandhar Technologies, an Indian car parts manufacturer, revealed that it is opening a factory unit in Romania, where it plans to manufacture die-cast aluminum components for the seat belt retractor spindles and windscreen wipers.
- In May 2023, Shanghai Yongmaotai Automotive Technology Co. fulfilled the technical conditions for mass-scale production of automotive die casting lubricants. Additionally, the firm is going to meet its requirements, which utilize a significant portion of secondary aluminum. Thus confirming the trend of environmental protection and reduction in carbon emissions. The company is expected to accelerate its marketing efforts to reach large-scale manufacture and sales of materials that do not have any impact on heat.
Segmentation of Automotive Die Casting Lubricant Market Research
- Solvent Based
- Water Based
- North America
- Latin America
- East Asia
- South Asia and Oceania
- The Middle East and Africa
- FAQs -
What was the Value of the Automotive Die Casting Lubricant Market in 2019?
The global automotive die casting lubricant market was worth US$ 104.7 million in 2019.
What is the Sales Outlook for Automotive Die Casting Lubricant in 2024?
The sales outlook for automotive die casting lubricants is likely to be valued at US$ 125.6 million in 2024.
What is the Demand Forecast for Automotive Die Casting Lubricants for the Decade?
Demand for automotive die casting lubricant is expected to reach a market value of US$ 180.6 million by the end of 2034.
What is the Growth Projection for the Automotive Die Casting Lubricant Market?
Sales of automotive die casting lubricants are projected to rise at a CAGR of 3.7% through 2034.
At What Rate Is the Market in East Asia Predicted to Grow?
The East Asia market for automotive die casting lubricants is forecast to expand at a CAGR of 4.2% through 2034.