Press release
Forging Lubricants Market Poised for Steady Growth in the Future 2018-2028
Forging lubricants are added to improve the efficiency and productivity of the forging process. Forging lubricants improve the efficiency of the process by reducing friction between dies and work pieces. A typical forging lubricant may comprise demineralized water, graphite, binding agents, stabilizers, thickeners and corrosion inhibitors. Lubrication of dies promotes smooth motion between metal and metal, easy handling and release of the forged part, cooling of the system to remove undesirable heat from dies, and protection of dies, which increases the average life span of dies. There has been an increase in the use of water-based forging lubricants for efficient cooling of the system.
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Global Forging Lubricants Market: Dynamics
Market Drivers
A number of factors have boosted the demand for forging lubricants over the forecast period. There has been significant improvement in die life. A large amount of raw material is injected into complex dies. As a result, due to the complexity of dies, all the parts of dies are not uniformly cooled. To improve the efficiency of parts, a number of complex forging dies are being manufactured, which lead to the deposition of materials in complex geometries. As a result, there has been a growing need of forging lubricants to cope with uneven cooling and thermal management and easy removal of forged parts.
Market Restraints
One of the major factors restraining the growth of the global forging lubricants market is the additional operation cost associated with the use of lubricants in the forging process. Moreover, the technical constraints related to the viscosity and application of lubricants may in some cases lead to porosity in the forged part.
Market Trends
There has been an increase in the use of water-based lubricants to reduce operational cost and improve thermal management as a significant amount of heat is evolved during the forging process. Forging lubricants also provide additional cooling to the system. Moreover, there has been an increase in the use of robotics for the application of die lubricants.
There has also been an increasing trend for the use of magnesium metal for forging with low porosity and high ductility, thereby creating significant demand for forging lubricants over the forecast period.
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Global Forging Lubricants Market: Segmentation
The global forging lubricants market can be segmented on the basis of material type, process type, product type, solvent type and end use industry.
On the basis of material type, the global forging lubricants market can be segmented as:
Aluminum
Brass
Steel
Magnesium
Others
On the basis of process type, the global forging lubricants market can be segmented as:
Hot forging
Cold forging
On the basis of product type, the global forging lubricants market can be segmented as:
Graphite based
Non-graphite based
On the basis of solvent type, the global forging lubricants market can be segmented as:
Water based
Oil based
On the basis of end use industry, the global forging lubricants market can be segmented as:
Automotive
Metal machinery/General manufacturing
Global Forging Lubricants Market: Regional Outlook
The global demand for forging lubricants is anticipated to be dominated by Asia Pacific. With significant growth in metal machinery, automotive and other major end use industries in the region, the global demand for forging lubricants is projected to grow. India and China are projected to hold a dominant share in the global forging lubricants market over the forecast period. Regions such as North America and Europe are projected to witness significant demand for forging lubricants, owing to the increasing regulations pertaining to greenhouse emissions, which will promote the use of forging lubricants for aluminum and steel forging for light vehicles. Other regions such as Latin America are anticipated to witness a significant rise in the demand for forging lubricants, owing to the increasing local and foreign direct investments in the region’s automotive sector. Regions such as the Middle East and Africa and Japan are anticipated to be witness relatively sluggish growth over the forecast period.
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