Growing demand for lightweight automotive vehicles, coupled with increasing research and development initiatives intended at developing eco-friendly automotive die casting lubricants are identified chief growth factors.
Amid soaring competition, top 5 players comprising Henkel AG & Co. KGaA, Quaker Houghton Inc., Moresco Corp., Condat S.A., and Chemtool Incorporated are estimated to hold 50-60% of the total market share.
Between 2016 and 2020, the demand for automotive die casting lubricants expanded at a slow 0.8% CAGR. Sales of automotive die casting lubricants experience a sharp decline as a result of movement restrictions, disrupted supply chains, and halted production brought on by the unprecedented COVID-19 outbreak.
However, according to FMI’s analysis, the volume of the global automotive die casting lubricant market is anticipated to increase by 3.8% on a yearly basis and reach 28,138 Tons. The solvent-based lubricant segment is forecast to increase by 3.2% to reach 4,000 Tons, while the water-based lubricant segment is predicted to grow by 3.9% to reach 25,288 Tons.
Auto sales are on the rise as a result of rising economic growth and consumer purchasing power. However, rising gas prices are pressuring people to buy fuel-efficient cars.
Key Points Covered in Automotive Die Casting Lubricants Market Survey
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Global Automotive Die Casting Lubricants Market and How to Navigate
- Recommendation on Key Winning Strategies
Automotive die casting lubricants producers should benefit greatly from various government regulations that promote the production and sale of cars in developing nations like Mexico, Turkey, India, and other South-East Asian nations.
Demand for lightweight components made of materials like aluminium is increasing due to the push for energy-efficient cars and the growing popularity of electric vehicles, providing lucrative growth opportunities for companies in the automotive die casting lubricants market.
China is one of the most attractive markets for automotive die casting lubricants. The Chinese automotive die casting lubricants market is expected to witness a year-over-year (Y-o-Y) growth rate of 4.7% in 2021, totalling US$ 31.5 Mn.
- Henkel AG & Co. KGaA,
- Chem-Trend LP,
- Quaker Houghton Inc.,
- Moresco Corp.,
- 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.,