Forging Lubricant Industry Analysis in East Asia
Study on Forging Lubricants in East Asia by Water-,Oil-, and Coating-Based for Mechanical Press, Hydraulic Press, Hammers, Circular & Radial Rolling Mills, and Horizontal Press from 2024 to 2034
Analysis of Forging Lubricant Industry Covering Countries Includes Analysis of China, Japan, and South Korea
Forging Lubricant Sales Outlook for East Asia (2024 to 2034)
Sales of forging lubricants in the East Asian market are calculated at US$ 1.42 billion for 2024, as per a newly published market study by Fact.MR. Demand for forging lubricants is projected to increase at 4.5% CAGR and reach a valuation of US$ 2.21 billion by the end of 2034.
Expansion of the automotive industry in East Asia is projected to lead to the rising demand for forged components, which are further driving requirements for lubricants in different forging processes. Noteworthy expansion of the manufacturing sector is attributed to infrastructure development, industrialization, and investments in manufacturing facilities. This is further estimated to generate demand for forging lubricants.
Constant technological advancements in forging technology are projected to lead to the development of various complex components, which need specialized lubricants for effective production. Further, the adoption of novel lubricants with efficient performance characteristics is projected to contribute to revenue share. Implementation of stringent government regulations for environment protection is leading to the adoption of environment-friendly lubricants, including bio-based lubricants.
Growing expenditure in defense along with rising incidences of air travel are leading to the expansion of the aerospace industry. Forged components are pivotal in aerospace manufacturing, thus leading to a subsequent increase in the adoption of specialized lubricants.
Report Attributes | Details |
---|---|
Forging Lubricant Sales in East Asia (2024E) | US$ 1.42 Billion |
Projected Sales (2034F) | US$ 2.21 Billion |
Demand Growth (2024 to 2034) | 4.5% CAGR |
Sales in South Korea (2024E) | US$ 174.8 Million |
Sales in China (2034F) | US$ 1.59 Billion |
Demand Growth of Super Alloy-based Forging Lubricants (2024 to 2034) | 5.7% CAGR |
Market Share of Water-based Forging Lubricants (2034F) | >58% |
Key Companies Profiled |
|
Don't Need a Global Report?
save 40%! on Country & Region specific reports
What Aspect is Contributing to Rising Adoption of Forging Lubricants in East Asia?
“Rapid Expansion of Manufacturing Sector Increasing Sales of Forging Lubricants”
East Asian countries are at the forefront of industrialization, which is estimated to lead to the growing requirements for forging lubricants to facilitate the production of numerous metal components utilized in diverse industries. The rapid pace of infrastructure development in East Asia, including bridges, urban facilities, ports, railways, and roads needs certain forged components. These components ranging from specialized parts to structural elements of machinery depend on forging lubricants in the manufacturing processes.
Private and government enterprises in East Asia are investing in modernizing and expanding manufacturing facilities across numerous industries. This is projected to include the establishment of some new factories, implementation of more effective manufacturing practices, and upgrading existing facilities with advanced technology and machinery. With the expansion of the manufacturing facilities, an increase in the demand for forging lubricants is experienced to support the manufacturing of forged components.
Country-wise Insights
What is the Contribution of China to East Asia Market Expansion?
“Cost-effectiveness and Efficiency of Forging Lubricants Increasing Product Demand”
Attribute | China |
---|---|
Market Value (2024E) | US$ 989.9 Million |
Growth Rate (2024 to 2034) | 4.8% CAGR |
Projected Value (2034F) | US$ 1.59 Billion |
Forging lubricants are projected to help in the improvement of the efficiency of the forging procedure by minimizing friction between the forging equipment and the metal workpiece. This reduction in friction is projected to lead to less wear and tear of equipment, minimizing energy consumption, and ultimately cost-effectiveness for manufacturers.
Moreover, forging lubricants can help in the prevention of defects, including surface imperfections and cracks in the forged parts with minimized heat and friction. This is estimated to result in improved quality of finished products, which are pivotal for industries, including machinery, aerospace, and automotive, where reliability and precision are paramount. These characteristics of forging lubricants are projected to increase their demand in China.
Why is Japan a Lucrative Market for Forging Lubricant Suppliers?
“Inclination toward Advanced Technological Solutions”
Attribute | Japan |
---|---|
Market Value (2024E) | US$ 259.7 Million |
Growth Rate (2024 to 2034) | 4% CAGR |
Projected Value (2034F) | US$ 385.1 Million |
Japan is well-known for its technological advancements in numerous industries, such as manufacturing, etc. The development of advanced forging lubricants with superior performance features, including thermal stability, improved lubricity, etc. are projected to make them more appealing to manufacturers in Japan looking for solutions to improve their processes.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Category-wise Insights
Why are Water-based Forging Lubricants Preferred?
“Operational Efficiency of Water-based Forging Lubricants”
Attribute | Water-based Forging Lubricants |
---|---|
Segment Value (2024E) | US$ 835.7 Million |
Growth Rate (2024 to 2034) | 5% CAGR |
Projected Value (2034F) | US$ 1.36 Billion |
A Plethora of benefits is associated with water-based forging lubricants. They are projected to emerge as one of the most preferred lubricants among end users. Water-based lubricants, particularly based on water graphite provide superior operational performance. They are a bit easier to clean off. In addition, the great visibility of these water-based lubricants in comparison to translucent coatings makes them a popular choice among end users.
Pocket-friendly prices of water-based forging lubricants compared to oil- and coating-based ones attract more consumers to adopt them. Better tool protection of water-based forging lubricants also contributes to their popularity.
Which Forging Process Will Generate More Profits for Lubricant Suppliers?
“Increased Adoption of Hot Forging Process to Increase Production Pace”
Attribute | Hot Forging |
---|---|
Segment Value (2024E) | US$ 826.4 Million |
Growth Rate (2024 to 2034) | 5.2% CAGR |
Projected Value (2034F) | US$ 1.37 Billion |
The hot forging process is projected to be used by the majority of forging lubricants because of its contribution to getting some desired operational characteristics and benefits in end products. In addition, the process also helps decrease the required energy level and flow stress in the production of metals. The hot forging process helps increase the production pace and assists in shaping metal less prone to any fracture.
Competition Landscape
A newly published research analysis by Fact.MR, a market research and competitive intelligence provider, reveals that manufacturers of forging lubricants in East Asia are incorporating various strategies to expand their footprints and increase profit share. In addition, they are participating in the management of supply chain systems, new developments, etc. Some of the leading suppliers of forging lubricants in the East Asian market are Kyodo Yushi Co., Ltd., Nippon Oil Corporation, Idemitsu Kosan Co., Ltd., China Petrochemical Corporation, and Fuchs Petrolub SE.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Segmentation of Forging Lubricant Study in East Asia
-
By Product Type :
- Water-Based
- With Graphite
- Without Graphite
- Oil-Based
- Graphite Oil
- Others
- Coating-Based
- Glass Powder
- Frit
- Enamel
- Dry Molybdenum
- Phosphates
- Water-Based
-
By Forging Material :
- Aluminum
- Steel
- Bronze
- Brass
- Titanium Alloys
- Nickel
- Super Alloys
- Others
-
By Process Type :
- Hot Forging
- Cold Forging
-
By Forging Operation :
- Mechanical Press
- Hydraulic Press
- Hammers
- Circular & Radial Rolling Mills
- Horizontal Press
- Others
-
By Country :
- China
- Japan
- South Korea
- FAQs -
What is the projected demand value for forging lubricants in East Asia?
Demand for forging lubricants in East Asia is projected to reach a market value of US$ 1.42 billion in 2024.
What valuation is the East Asian market estimated to reach by 2034?
The East Asian market is projected to reach US$ 2.21 billion by the end of 2034.
At what CAGR is the demand for forging lubricants forecasted to increase?
Demand for forging lubricants in East Asia is projected to increase at 4.5% CAGR from 2024 to 2034.
How much share of the East Asian market is estimated to be held by water-based forging lubricants?
Water-based forging lubricants are set to account for more than 58% share of the East Asian market by 2034.
What is the calculated valuation of the South Korean market for 2024?
Sales of forging lubricants in South Korea are estimated to reach US$ 174.8 million in 2024.
What is the projected demand valuation for forging lubricants in China?
Demand for forging lubricants in China is forecasted to reach a market value of US$ 1.59 billion by the end of 2034.
At what rate is the demand for super alloy-based forging lubricants projected to increase?
Sales of super alloy-based forging lubricants are approximated to rise at a CAGR of 5.7% from 2024 to 2034.