Automotive Die Casting Lubricants Market Report 2023, Size, Share And forecast Till 2028
IMARC Group has recently released a new research study “Automotive Die Casting Lubricants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of Automotive Die Casting Lubricants Market?
The global automotive die casting lubricants market size reached US$ 1.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
What Is A The Automotive Die Casting Lubricants?
An automotive die-casting lubricant is a substance used to reduce friction and wear between surfaces during the metal casting process. It is made from special synthetic oils and greases, which are designed to lubricate the dies and molds and withstand the high temperatures and pressure involved in die-casting. It is available in solvent and water-based variants that protect components from numerous problems such as in-cavity buildup, cold shut, fish eye, and porosity. It also offers bright castings with less gas generation and decreases the corrosion and pitting of the mold surface. As a result, automotive die-casting lubricants are widely utilized in the automotive industry across the globe.
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What Are The Key Factors Driving In A Automotive Die Casting Lubricants Market?
The market is primarily driven by the escalating demand for die-cast components in vehicles with lightweight metals such as aluminum and magnesium. In addition, the shifting consumer preferences toward products made through die casting and the increasing automobile sales on account of the rising disposable income of consumers are contributing to the market growth.
Moreover, various government agencies are providing numerous subsidies and financial aids to encourage the production and sales of electric vehicles (EVs) to curb carbon emissions representing another major growth-inducing factor. Besides this, the emerging popularity of high-pressure die casting and the widespread adoption of plunger lubricants are providing a positive thrust to the market growth. The market is further propelled by the extensive investment by key players in research and development (R&D) activities to introduce sustainable and eco-friendly products.
Who Are The Key Players/Companies In The Global Automotive Die Casting Lubricants Market?
Chemtool Incorporated (The Lubrizol Corporation), Chem-Trend LP (Freudenberg & Co. KG), Condat SA, Falcon Industrial Inc, Geiger + Co. Schmierstoff-Chemie GmbH, Hardcastle Petrofer Pvt. Ltd, Hill and Griffith Company, Lubgraf Synoils Pvt. Ltd, MORESCO Corporation, Petróleo Brasileiro S.A. and Quaker Houghton Inc.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Water-based
- Solvent-based
- Others
Breakup by Material Type:
- Aluminum and Magnesium
- Tin
- Lead and Zinc
- Copper and Brass
- Others
Breakup by Application:
- Die Slick
- Plunger Slick
- Ladle Slick
- Assembly Slick
- Others
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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