The global automotive die casting lubricants market is expected to grow at a CAGR of 4.3% during the forecast period 2023 to 2030. Growing demand for ecologically friendly automotive die casting lubricants and a rise in R&D initiativesremain as the key growth drivers. Increasing economic improvements and client purchasing power generate increased auto demand. Rising gas prices are pushing individuals to buy fuel-efficient cars. Die-cast automobile parts have a greater strength-to-weight ratio than forged parts. This drives automotive die casting lubricant sales over the forecast period. The automotive sector requires designs with precise proportions. Die casting can manufacture precise and accurate components, which is driving its use in the auto industry. Investment casting is die casting.
A focus on developing sustainable and ecologically friendly products has also increased demand for automotive die casting lubricants. Due to stricter carbon emission standards, lightweight, fuel-efficient cars are needed. This goal has increased die casting's applicability. Lightweight vehicles use non-ferrous metals like aluminium, magnesium, and zinc because they have a high strength-to-weight ratio. Die casting is used to cast metals into the precise shapes used in car building. This will drive demand for automotive die casting lubricants over the forecast period.
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Automotive die casting lubricants manufacturers anticipate several prospects due to government rules meant to boost vehicle manufacturing and retail sales in rising economies such as Mexico, Turkey, India, and other South-East Asian nations. Energy efficiency and electric vehicles are driving demand for lightweight materials like aluminium. This boosts the automobile die casting lubricants market's growth possibilities. Several government-led programmes in India, Turkey, Iran, and Morocco will allow players to expand their production facilities. Due to the aforementioned measures and increased foreign investments in emerging nations, the market for automotive die casting lubricants is expected to grow over the projected period.
The report covers die-casting and plunger lubricants. Die-casting lubricants accounted for 95% of revenue in 2021, according to the research. Die-casting lubricants are expected to dominate through 2030.The demand for water-based lubricants is expected to grow at a CAGR of 4.3% from 2023 to 2030 due to customer preference for environmentally friendly products. Governments around the world have promoted eco-friendly alternatives and enacted strict decarbonization rules. Aluminium's abundance reduces its cost compared to rivals. Aluminium's strength-to-weight ratio boosts its application in casting components. As a result, aluminium is expected to account for 75% of revenue in 2021.
North America dominated 2021 revenue. North America's automotive die casting lubricants market is projected to remain dominated by the U.S. In 2021, Germany held 25% of the European market. A huge number of car component manufacturers in Germany encourages more to set up shop there. The automobile die casting lubricants business should benefit from intense R&D and access to cutting-edge technology and resources.Asia-Pacific is anticipated to grow at the highest CAGR from 2023 to 2030. Asia Pacific's growing auto industry is driving the die casting lubricant industry. China, Japan, Korea, and India are prime examples. Rapidly rising car ownership in China is driving the country's market. China is a prospective market for die casting lubricants. The Chinese market for automobile die casting lubricants is expected to grow at a CAGR of 4.5% during the forecast period. China is also a prominent automaker worldwide. Over 22 million automobiles were made in 2021. China's well-established automotive sector and associated components could make it a lucrative market for automotive die casting lubricants. South Korea will soon be a market for OEM and aftermarket products. High domestic vehicle production drives the OEM segment of the auto component manufacturing business.
Few market players control most of the market and therefore the market remains consolidated. Primary market participants in the global automotive die casting lubricants market are focusing on product development, new and innovative products, and expanding their market presence in developing economies through strategic acquisitions and mergers. Top five market players include Henkel AG & Co. KGaA, Quaker Houghton Inc., Moresco Corp., Condat S.A., and Chemtool Incorporated.
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