Factors influencing revenue growth of the global automotive die casting lubricants market

Factors influencing revenue growth of the global automotive die casting lubricants market

Automotive die casting lubricants are used in the die casting of automotive components that need more precision and dimensional accuracy. With the increasing regulations pertaining to the emissions from automobiles that are a major factor to greenhouse effect and the fuel economy norms prevailing especially in the U.S. and EU countries, there has been a rapid growth in the sales of light weight vehicles. The light weight vehicles components are manufactured from aluminum, magnesium, zinc and other nonferrous materials. The materials stick to the die surface at heated temperature thus the application of lubricant is essential for proper release of the die casted part. Additionally, complex dies for casting are being designed in single castings to reduce the assembly and joining procedure. The complexity of dies leads to uneven cooling thus requiring lubricants for thermal management and for the proper uniformity and finish of the casted part. Owing to the above factors, die lubricants have a major role to play in the coming years.

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Moreover, the increasing local and foreign investments in regions such as Latin America and Middle East and Africa in the automotive sector is driving the global demand for automotive die casting lubricants. Governments have provided free trade agreements in Mexico across more than 46 countries. Major OEM’s have invested in the sector to boost capacity especially in Mexico. This is foreseen to create significant opportunities for the growth of die casting lubricants in the near future.

Global Automotive Die Casting Lubricants Market: Segmentation and Forecast

The global automotive die casting lubricants market is segmented on the basis of lubricant type, type, die casting metal and region. On the basis of lubricant type, the global automotive die casting lubricants market is segmented into die lubricant and plunger lubricant. Based on type, the global automotive die casting lubricants market is segmented into water based, solvent based and other die casting lubricants. Key regions covered in the report are North America, Latin America, Europe, Middle East and Africa (MEA), and Asia Pacific.

Global Automotive Die Casting Lubricants Market Analysis, by Lubricant Type

Die lubricant is projected to account for more than 90% share in the global automotive die casting lubricants market by 2025 end, increasing at a CAGR of 5.2% over the forecast period. This growth is attributed to increasing demand for die lubricant in complex die structures coupled with the growth in aluminum and other nonferrous metal foundries. Plunger lubricant is projected to expand at a significant CAGR over the forecast period.

Global Automotive Die Casting Lubricants Market Analysis, by Type

Among type, water based lubricants dominated the global automotive die casting lubricants market in 2015 and the segment is forecast to account for just under 85% market value share by the end of 2025. The growth of this segment is attributed to the high evaporation rate of water that helps in die cooling and thus ensures thermal management. The solvent based lubricants on the other hand, could cause severe environmental hazards at higher temperature.

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Global Automotive Die Casting Lubricants Market analysis, by Die Casting Metal Type

Aluminum is being widely used in the die casting of automotive components. This is attributed to its light weight and high mechanical strength. Magnesium is also projected to expand at a significant CAGR owing to its lighter weight even when compared to aluminum. Zinc is also a widely preferred material for the manufacturing of automotive components globally and is thus expected to hold a significant share.

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