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.
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.
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.
Persistence Market Research (PMR) analyzes the global automotive die casting lubricants market in a new publication titled “Automotive Die Casting Lubricants Market: Global Industry Analysis (2012-2016) and Forecast (2017–2025)”. This study provides historical data for 2012-2016 along with the forecast for the period 2017–2025. The main objective of the report is to identify dynamics in the market and provide recent updates and insights impacting various segments of the global automotive die casting lubricants market. To provide better understanding of the market, the report also includes an analysis of drivers, restraints, and trends on all five regions namely, Asia Pacific, North America, Europe, Latin America and the Middle East & Africa, which influence the current market scenario and future status of the global automotive die casting lubricants market over the forecast period.
Die Casting Metal Type
To understand and assess market opportunities and trends, the global automotive die casting lubricants market report is categorically split into different sections based on market segmentation – by lubricant type, by die casting metal type, and by region. The report starts with the market overview and provides market definition and taxonomy along with value chain, pricing analysis region wise, drivers, restraints, and trends in the market. The sections that follow include the global automotive die casting lubricants market overview by the respective segments i.e. lubricant type, type, die casting metal type and region.
The next section highlights region wise automotive die casting lubricants market analysis – by lubricant type, type, die casting metal type and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the regional automotive die casting lubricants market. To give a brief idea about revenue opportunities from the lubricant type, type, die casting metal type and region/country-wise segments, the report also provides volume (Tons) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2017-2025).
Lastly, we have provided the global automotive die casting lubricants market structure and a detailed competition landscape with company market share and performance, to provide report audiences with a dashboard view of key players operating in the global automotive die casting lubricants market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
For market data analysis, we have considered 2016 as the base year, with market numbers estimated for 2017 and forecast made for 2018–2025. We have also studied the historical trend of the market for the year 2012-2016 in order to have a better understanding of the market. To calculate the market size, the report considers the weighted average price of automotive die casting lubricants, based on lubricant type such as die lubricant and plunger lubricant across key geographies. The forecast assesses the total revenue (US$ Mn) as well as volume (Tons) of the global automotive die casting lubricants market. To deduce market volume size, consumption of automotive die casting lubricants has been considered. In order to provide an accurate forecast, we have started by sizing the current market, which forms the basis of how the global automotive die casting lubricants market is expected to develop in the future. Critical market data, including the base number and segmental splits, has been devised through in-depth secondary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global automotive die casting lubricants market. The forecast presented in the report evaluates the actual consumption of automotive die casting lubricants and expected consumption in the global automotive die casting lubricants market over the forecast period.
We have also analyzed the different segments of the global automotive die casting lubricants market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global automotive die casting lubricants market. The report also analyzes the global automotive die casting lubricants market based on absolute dollar opportunity, essential to identify potential resources in the global market. PMR has also developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global automotive die casting lubricants market. This market attractiveness index would help clients identify real market opportunities in the global automotive die casting lubricants market.