The global Automotive Die Casting Lubricant Market is estimated to reach US$ 125.6 million in 2024 and expand at a consistent 3.7% CAGR through 2034. The market is forecast to attain a valuation of US$ 180.6 million by 2034.
Increasing investments in vehicles in developed and developing countries are raising the demand for die casting, a critical process in manufacturing different automotive components. As the deployment of die casting surges, so does the demand for lubricants, particularly formulated for die casting in the automotive sector.
Surging advancements in die casting technology, like vacuum die casting and high-pressure casting, are breaking set boundaries. These advancements need specialized lubricants that can effectively endure higher temperatures, pressures, and casting speeds while ensuring component quality and optimal performance.
Key Takeaways from the Automotive Die Casting Lubricant Market Study:
- In 2019, the market gained a valuation of US$ 104.7 million.
- The East Asia market is expected to obtain a value share of 36.5% in 2024 with an estimation of US$ 45.8 million.
- The North America market is predicted to acquire a share of 28.6% in 2024 with an estimation of US$ 35.9 million.
- The water-based segment is predicted to capture a 31.5% share in 2024 with estimated revenue worth US$ 39.6 million.
"Opportunities for market players continue to emerge as governments mandate regulations in favor of electric vehicles," says a Fact.MR analyst.
Leading Players Driving Innovation
Key players include Henkel AG & Co.KGaA, Chem-Trend LP, Quaker Houghton Inc., MORESCO Corporation among others competing through various strategies such as mergers and acquisitions and product diversification.
Competitive Landscape
An article published indicates an increase in auto manufacturers shifting to gigacasting over conventional metal sheet fabrication which offers reduced manufacturing lead time and production processes.
Industry News
- Xiaomi launched its first-ever EV car named Xiaomi SU7 showcasing technologies including die casting at its launch event.
- A new product line named YESKOTE was launched by Yeskomalube entering into the casting market providing various die coatings designed for different applications.