Rapid development in automotive development has reported rising adoption of high-strength and lightweight metal castings to improve efficiency, increasing demand for automotive die casting lubricant. QY Research published a report titled, Automotive Die Casting Lubricants Market Research Report 2022 to study its growth and subsequent driver. The global automotive die casting lubricants market is valued at US$1723.8 mn and in 2020 is expected to reach US$1997.1 mn by the end of 2028, rising at a CAGR of 2.3% during 2022-2028.
Efficiency and Effectiveness to Boost Die Casting Lubricants Market
Thriving automotive industry is observing several developments and innovations to improve the performance and efficiency of the vehicle in affection to adhere to governmental regulations. This has increased the adoption of die casting as it increases its strength and reduces its weight. In order to effectively use die casting, die casting lubricant is utilized to reduce friction, porosity problems, uneven finishing, and non-uniformity. It also functions by transporting foreign particles, transmitting force, and heating and cool the surfaces.
Furthermore, to reduce the assembly and joining procedure, complex dies are being designed in single castings. These factors will significantly accelerate the demand of automotive die-casting lubricants.
Hot Chamber Machines Segment to Observe Significant Market Demand for Lubricants
The metals in hot chamber machines face uneven cooling that require die-casting lubricants for thermal management, reducing porosity problems, uneven finishing, and non-uniformity. Furthermore, it enhances the quality and efficiency of the die casting process. These factors will significantly affect the market growth in the forecast years.
Asia Pacific to Hold Largest Growth in Global Market
Rising automotive industry in developing countries including India and China is expected to boost the demand for automotive die casting lubricants. Furthermore, heavy investments for major automotive manufacturers around the world is expected to hold boost the market in Asia Pacific region.
Manufacturers to Focus on Strategic Expansion in Developing Countries
In 2015, Shell announced the opening of it’s a new lubricants blending plant in Tianjin with an aim to grow its lubricants business in China. The estimates capacity of the new plant its 330 million litres of finished lubricants per year. Along with the new plant their strategy will concentrate on downstream footprint through strong relationships with distributors, collaboration with key vehicle, and equipment manufacturers.
The major players in the market include Sinopec, Shell, Quacker, Exxon Mobil, Petrobras, Total, Henkel, PetroChina, FUCHS, JX MOE, Houghton, Chem Trend, CAM2, Berkshire, LUKOIL, and others.