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Forging Lubricants Market

Global Market Study on Forging Lubricants: Graphite-free Lubricants to Dominate Landscape

Forging Lubricants Market by Product (Graphite-based and Non-Graphite-based)

Global Forging Lubricants Market Snapshot

According to Persistence Market Research's most recent market report, the global market for Forging Lubricants will reach US$ 759.9 Mn in 2023. The market for Forging Lubricants is expected to reach US$ 1,310.4 million in value by 2033 with a steady growth rate of 5.6%.

Attributes Key Insights

Forging Lubricants Sales (2022A)

US$ 724.0 Mn

Forging Lubricants Demand (2023E)

US$ 759.9 Mn

Forging Lubricants Market Projections (2033F)

US$ 1,310.4 Mn

Value CAGR (2023-2033)

5.6%

Collective Value Share: Top 3 Countries (2023E)

41.7%

A forging die’s lubricant is a chemical compound with a formulation that allows the forging process to take place within the limits and parameters specified by the forging industry. A forging lubricant's primary function is to enable increased productivity by providing high lubricity to extend tool life. Using the appropriate forging lubricant can prevent "stuck" forgings, reduce the number of rejects, and reduce the load on forging equipment to prevent early equipment failure.

Forging lubricants are used in different metal-forming operations such as warm, hot, and cold forming and for all forging processes like Close die forging, Extrusion (direct and backward), Calibration, Circular rolling, and many others. There are commonly four types of forging dies lubricants utilized for hot forgings, such as water-based graphite, oil-based graphite, water-based synthetics or non-graphite, and water-based graphite emulsions.

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Historical (2017-22) v/s Forecast (2023-33) Market Outlook for Forging Lubricants Market

According to the historical analysis, the market for Forging Lubricants expanded at a compound annual growth rate (CAGR) of 0.2% from 2017 to 2022. Over the historical period, the market has witnessed a significant drop in growth rate, due to the impact of COVID-19 on the automotive sector, which led to the disruptions in the manufacturing of vehicles and automotive forged parts.

However, the market is predicted to expand at a CAGR of 5.6% over the forecast timeframe influenced by the steady growth of end-use industries of forging, such as automotive, aerospace, and construction, and the rise in the consumption of forging lubricants for the production of lightweight aluminum forged parts.

With significant growth in the automotive industry and other major end-use industries in the APAC region, global demand for forging lubricants is projected to grow. Countries such as India and China, are projected to witness significant demand for forging lubricants, owing to the increasing regulations relevant to greenhouse emissions.

These regulations will promote the use of water-based lubricants and graphite-free lubricants for lightweight vehicles. Germany is fastening the market of forged automotive components produced in Europe, by raising R&D investments made by automotive manufacturers, thus generating significant revenue from the global automotive market.

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Market Dynamics

Increasing Demand from Automotive Industry creates ample space for Forging Lubricants.

Unprecedented growth in population and factors like urbanization are aiding in the increase of the vehicle population. Forging is known as the backbone of manufacturing. In the last few years, the market has faced significant changes in the automobile industry with respect to vehicle design, functioning, and manufacturing. Increasing demand from customers for lightweight vehicles and low-emission fuel vehicles is driving the market of forged automotive components which is anticipated to boost the demand for forging lubricants in the automotive industry.

On the other hand, numerous benefits of forged aluminum components such as better performance than cast or machined automotive parts, the greater production speed of forged Aluminum than comparable casting shops, and simple geometries of Forged aluminum components have created a significant impact on the use of Forged Aluminum in Electric vehicles.

Additionally, growing concerns about the depleting non-renewable resources like petrol, the rise in the intensity of global warming and awareness about climate change, and greater use of renewable energy have been major factors for the rise in the need for Electric vehicles in the future, which in turn can raise the consumption of forged aluminum parts in the coming forecast period.

Thriving Demand Graphite – free and Water -based lubricants Drives the market.

Automotive graphite-free and water-based lubricants are used to replace polluting oils and sawdust, prevent the risk of slipping while moving around the plant, and, are not dissolvable hence contributing towards environment-friendly lubricants. Water base lubricants are being used to reduce operational costs, improve thermal management and provide additional cooling to the system, thus driving the global market of forging lubricants.

The use of graphite-free lubricants for hot forging is environmentally friendly as they produce less smoke as compared to graphite lubricants and are also cost-effective. Graphite-free lubricants are used to increase die life and reduce the need for constant grinding due to reduced die wear. In the case of graphite-free forging lubricants, hazards like the release of carbon monoxide and sulfur are extensively reduced.

Fluctuating Costs and Stringent Regulations Constraints the market growth for Forging Lubricants.

The fluctuation in the prices of raw materials and additional operational costs associated with the use of lubrication in the forging process are the major factors hampering the growth of the global forging lubricants market during the forecast period. Also, the usage of substantially less harmful graphite-free lubricants has become more prevalent in recent years across a variety of end-use sectors to ensure safety for both humans and the environment. This trend is probably due to stringent regulations being imposed by the governments against the manufacturing and use of graphite-based counterparts. Thus, the stringent government environmental regulations and adoption of environmentally-friendly products are expected to restrain the growth of the overall forging lubricants market across the globe.

Adoption of New Production Technologies for Synthetic Forging Lubricants is the new key trend among Key Players.

The new generation of synthetic forging lubricants has pushed the boundaries of film formation on hot dies and assisted metal movement better than prior formulations. Improvements in the areas like availability of new raw materials in combination with increased investment in R&D, development of externally atomizing nozzles, spray patterns, and droplet size control of sprays and drive to eliminate graphite from forging operations have allowed for heavier, more complex, and demanding forgings to be made without graphite in a reasonably economic way. Technologies like modern spray equipment onto multiple-blow operations in a well-optimized process have been in use for synthetic lubricants as it is not as superior lubricator as Graphite.

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Country-wise Insights

What is the Growth Outlook of the Forging Lubricants Market in East Asia?

A significant portion of the East Asian Forging Lubricants market is dominated by China due to various factors such as significant growth in metal machinery, automotive, and other major end-use industries are also aiding the rising consumption of forging lubricants in East Asia. The market for Forging Lubricants in China is estimated to witness a growth rate of 6.0% during the forecast period. Rapid industrialization and the presence of a large number of metal manufacturing industries in countries such as China, South Korea, and Japan are expected to enhance forging lubricant demand in the region.

What is the Growth Outlook of the Forging Lubricants Market in India?

During the forecast period, India is anticipated to have the quickest rate of growth in the forging lubricants market. Since the demand for forged aluminum components in EVs is increasing and the country is expected to grow at a growth rate of 6.3%, along with rising consumer disposable income, development of construction, and numerous initiatives taken by the Government of India to promote manufacturing and adoption of electric vehicles in the country, have helped boost the forging industry. As a result, the use of graphite as well as graphite-free forging lubricants becomes a priority for manufacturers.

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Category-wise Insights

What is the demand outlook of the Water Based segment in the Forging Lubricants market?

Based on Solvent Type, the market is segmented into Water-based, Oil-based, and Soap-based. The market for Forging Lubricants is expected to be dominated by water-based solvent types with a value share of 73.60% in the global market. The use of water-based forging lubricants allows for easy handling and release of the forged item, smooth motion within the metals, and system cooling to eliminate extra heat.

Automotive lubricants without graphite and made of water are used to replace harmful oils and sawdust, reduce the risk of slipping while moving around the plant, and are not soluble, all of which help to create more environmentally friendly lubricants. Water-based lubricants are also used to improve thermal management, reduce operational costs, and provide additional cooling to systems.

How does the Hot Forging segment fairing in the Forging Lubricants market?

The Hot Forging segment is estimated to utilize 91.4% of the Forging Lubricants produced globally. Hot forging enables maximum material deformation and access to complex 3D geometries. Hot forged components are also more ductile, making them suitable for a wide range of applications.

Furthermore, as a technique, hot forging is more adaptable than cold forging. Hot forging, on the other hand, is not possible without the use of a suitable forging lubricant. These lubricants help to reduce friction between the workpiece and the forging die, reduce the forging load, and extend the life of a forging die.

Competitive Landscape

With the increasing demand from the construction industry, prominent manufacturers are gearing up to tap the market by expanding their presence across regions and improving their product portfolio. Key players in the market are focusing on strengthening their supply chain to stay at the forefront of the market competition. Manufacturers are focusing on innovation and new product developments in the sector of graphite-free lubricants. They are also focusing on implementing new blends to improve surface finish and die life and reduce the total cost of lubrication.

For instance,

In July 2021, FUCHS Lubricants, a leading lubricants manufacturer invested a significant amount in the construction of a new warehouse and office complex to cater to the growing demand from South Africa.

In 2019, Quaker Houghton announced the acquisition of the operating divisions of Norman Hay plc, a private U.K. company that provides specialty chemicals, operating equipment, and services to industrial end markets.

Scope of Report

Attribute Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • USD Million for Value
  • Tons for Volume

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • ANZ
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Product
  • Material
  • Process
  • Solvent
  • End-Use Industry
  • Region

Key Companies Profiled

  • Henkel Corporation
  • FUCHS
  • Quaker Houghton
  • Moresco Corporation
  • The Hill and Griffith Company
  • Condat Group
  • Hardcastle Petrofer Pvt. Ltd.
  • Chemtool Incorporated
  • Acme Refining LLC
  • Lubgraf
  • Chem-Trend L.P
  • Houghton International Inc.
  • APV Engineered Coatings
  • James Durrans Group
  • Chem Arrow Corporation
  • Advanced Technical Products
  • Pyroflux
  • Molygraph Engineered lubricants
  • Sunlube India
  • Steel Plant Specialties (SPS)

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

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Forging Lubricants Market Segmentation

By Product, the Forging Lubricants market is segmented as:

  • Graphite-based
  • Non-Graphite-based

By Material, the Forging Lubricants market is segmented as:

  • Steel
  • Aluminium
  • Magnesium
  • Brass
  • Others

By Process, the Forging Lubricants market is segmented as:

  • Hot Forging
  • Cold Forging

By Solvent, the Forging Lubricants market is segmented as:

  • Water-based
  • Oil-based
  • Soap-based

By End-use Industry, the Forging Lubricants market is segmented as:

  • Automotive
  • Metal Machinery & General Manufacturing

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • Henkel Corporation
  • FUCHS
  • Quaker Houghton
  • Moresco Corporation
  • The Hill and Griffith Company
  • Condat Group
  • Hardcastle Petrofer Pvt. Ltd.
  • Chemtool Incorporated
  • Acme Refining LLC
  • Lubgraf
  • Chem-Trend L.P
  • Houghton International Inc.
  • APV Engineered Coatings
  • James Durrans Group
  • Chem Arrow Corporation
  • Advanced Technical Products
  • Pyroflux
  • Molygraph Engineered lubricants
  • Sunlube India
  • Steel Plant Specialties (SPS)

- Frequently Asked Questions -

The global market of Forging Lubricants is estimated to reach a valuation of US$ 759.9  Mn in 2023.

The Forging Lubricants demand is anticipated to witness a growth rate of 5.6% over the forecast period of 2023 and 2033 in terms of value.

According to PMR analysis, Henkel Corporation, FUCHS, Quaker Houghton, Moresco Corporation, The Hill and Griffith Company, Condat Group, and Others are identified as the key manufacturers in the Forging Lubricants market.

Key players in the global Forging Lubricants market are expected to account for about 40-45% of the overall market share.

The top countries driving the global Forging Lubricants demand are the India, China, Japan, Germany, and the U.S.

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