Forging Lubricants Market

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

Forging Lubricants Market Segmented By Graphite-based Forging Lubricants, Non-Graphite-based Forging Lubricants Product in Steel Forging Lubricants, Aluminium Forging Lubricants, Magnesium Forging Lubricants, Brass Forging Lubricants Material

Market Snapshot

As per value growth rate, Persistence Market Research anticipates forging lubricant sales to witness a CAGR of 5.6% over the assessment period of 2021 and 2031. In terms of volume, demand is expected to increase at around 5.3% CAGR over the same period.

Revenue from graphite-based forging lubricants is expected to rise at a robust 4.6% year over year in 2021. Demand for non-graphite-based forging lubricants is anticipated to increase 4.4% in 2021, giving the combined forging lubricants market year-over-year growth of 4.6% in 2021.

Find Out More about the Report Coverage

Companies

  • Henkel Corporation
  • FUCHS
  • Quaker Houghton
  • Moresco Corporation
  • The Hill and Griffith Company
  • Condat Group
  • Hardcastle Petrofer Pvt. Ltd.
  • Chemtool Incorporated
  • Acme Refining LLC
  • Lubgraf

Forging Lubricants Industry Research Also Addresses:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Assessment by Product Grade / Purity / Formulation Standards
  • Competition Mapping and Benchmarking
  • Certifications and Compliance Requirements
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Demand for Forging Lubricants and How to Navigate
  • Recommendation on Key Winning Strategies

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Sales Analysis of Forging Lubricants from 2016 to 2020 Vs Market Outlook for 2021 to 2031

Historically, from 2016 to 2020, use of forging lubricants increased at around 1% CAGR, owing 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, with steady growth of end-use industries of forging, such as automotive, aerospace, and construction, rise in the consumption of forging lubricants for the production of lightweight aluminum forged parts is expected to be seen over the coming years.

Furthermore, increased passenger traffic has boosted expansion of the aerospace sector and has also driven the manufacturing of aerospace forged components, which, in turn, is expected to aid to demand growth of forging lubricants as well, at an expected CAGR of 5.6% through 2031.

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What are the Key Opportunities for Forging Lubricant Manufacturers?

Key manufacturers of forging lubricants have massive opportunities in water-based lubricants, as these reduce concerns related to plant hygiene and cause less pollution and.

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.

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What are the Roadblocks that Forging Lubricant Suppliers Face?

Extra operation cost associated with the use of forging lubricants in the forging process is one of the main factors restricting market.

Furthermore, technological restrictions linked to viscosity and lubricant application may cause porosity in forged components in some cases, leading to a massive loss to forging companies.

Will Sales of Forging Lubricants Gain Traction Due to Surge in Consumption of Eco-friendly Lubricants?

Environmental-friendly forging lubricants are projected to rise in parallel with growing awareness of a cleaner working environment and increased precautions for the safety of the workers in the forging industry.

Other factors such as reduction in the release of carbon monoxide and sulfur in the air, less stirring, and added benefits such as increased die life and reduced need for constant die grinding due to reduced die wear during the use of eco-friendly lubricants, make these types of lubricants highly sought-after.

Which Region Offers the Largest Opportunity for Sales of Forging Lubricants?

With an absolute dollar opportunity of around US$ 222.7 Mn, East Asia is expected to be the most lucrative market for forging lubricant suppliers.

Rapid industrialization and 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.

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.

forging-lubricants-market

Country-wise Analysis

Will India Be a Lucrative Market for Forging Lubricant Producers?

In 2021, the market in India is anticipated grow 5% year on year, bucking initial scepticism about how the market would perform during a global pandemic. Across the whole of India, total sales of forging lubricants reached US$ 60.6 Mn.

Multiple 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 demand for forged aluminium components in EVs is on the rise, due to which, use of graphite as well as graphite-free forging lubricants becomes a priority for the manufacturers of the these.

What Makes China a Hub for Forging Lubricant Demand?

China is expected to dominate the Asia Pacific as well as global market. In 2020, China accounted for 86% share in the East Asia market for forging lubricants.

Rising usage of forging lubricants in various end-use industries such as automotive and aerospace coupled with large manufacturing industry all around the country is expected to boost demand for forging lubricants in China over the forecast period.

Category-wise Insights

Which Forging Lubricant Type Generates Most Revenue?

Demand for graphite-based forging lubricants is expected to rise at a CAGR of 5.6% from 2021 to 2031.

Graphite has been utilized as a lubricant for many years; however, recently its significance has been boosted immensely. The most significant advantage of graphite is that it does not leave behind any sticky remains or residue that may gather dust afterwards. This is due to graphite's lubricating qualities, which are due to its weak covalent bonds, and allows graphite layers to glide on top of each other with little friction.

As a result, graphite-based forging lubricants are used as a solid lubricant and also become one of the most used solid lubricants in the market. Owing to these aspects, the product is expected to account for more than 3/4 demand share throughout the forecast period.

What is the Commercial Potential of Water-based Forging Lubricants?

By solvent, water-based is one of the fastest-growing segments and is expected to create an incremental $ opportunity of US$ 380 Mn over the assessment period of 2021-2031.

Use of water-based forging lubricants facilitates smooth motion within metals, convenient handling and release of the forged part, and also system cooling to remove unwanted heat. 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 toward environment friendly lubricants.

Water-based lubricants are being used to reduce operational cost, improve thermal management, and provide additional cooling to systems, thus driving the global market of forging lubricants.

Why is Demand for Forging Lubricants for Hot Forging Surging?

Hot forging accounted for 91.4% overall demand for forging lubricants in 2020.

Hot forging allows for maximum material deformation as well as access to complicated 3D geometries. Hot forged components also have a higher ductility, making them ideal for a variety of applications.

In addition, hot forging is more flexible than cold forging as a technique. At the same time, hot forging is not feasible without the use of an appropriate forging lubricant. These lubricants help in minimizing friction between the workpiece and the forging die, reduce the forging load, and also ensure maximum life of a forging die.

Has COVID-19 Degraded Sales of Forging Lubricants?

COVID-19 has significantly reduced demand for forging lubricants. The industry, which was growing at around 4% annually over the past three-four years before the pandemic, witnessed a year-on-year decline of nearly 14.8% in 2020 with the onset of COVID-19.

In the near term, the COVID-19 pandemic will leave a significant negative impact on the demand for forging lubricants. Supply chain crunch, lockdowns, travel restrictions by various governments all around the world, shortage of raw materials, including non-ferrous metals, and halt in general metal manufacturing units affected market growth.

However, over the long term, with the relaxation of lockdowns in major economies around the world and steady growth in automotive and metal forging industries after the pandemic, sales of forging lubricants are expected to recover.

Competitive Landscape

Majority of companies discussed in the report have focused expanding their manufacturing units in their respective regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

Some of the key developments are:

  • 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
  • In 2013, Henkel opened a new production line Scheemda facility in Netherlands for the manufacturing and long-term supply of high-performance lubricants.
  • In March 2018, FUCHS acquired Fluid Vision Technology LLC. With this acquisition, FUCHS Industrial fluid customers can automate process fluid monitoring with the Internet of Things (IoT) technology.

Similarly, recent developments related to companies manufacturing forging lubricants have been tracked by the team at Persistence Market Research, which are available in the full report.

Forging Lubricants Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • MEA

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Rest of Latin America
  • Germany
  • Italy
  • France
  • Czech Republic
  • Spain
  • UK
  • Russia
  • Rest of Europe
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • ANZ
  • Rest of South Asia and Pacific
  • Turkey
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Key Segments Covered

  • By 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

Pricing

Available upon Request

Key Segments Covered in Forging Lubricants Industry Research:

By Product

  • Graphite-based Forging Lubricants
  • Non-Graphite-based Forging Lubricants

By Material

  • Steel Forging Lubricants
  • Aluminium Forging Lubricants
  • Magnesium Forging Lubricants
  • Brass Forging Lubricants
  • Others

By Process

  • Hot Forging Lubricants
  • Cold Forging Lubricants

By Solvent

  • Water-based Forging Lubricants
  • Oil-based Forging Lubricants
  • Soap-based Forging Lubricants

By End-use Industry

  • Forging Lubricants for Automotive
  • Forging Lubricants for Metal Machinery & General Manufacturing

- FAQs -

The global forging lubricants market is currently valued at over US$ 690 Mn.

Growing demand for forged lubricants in the automotive industry is being witnessed.

From 2016 to 2020, demand for forging lubricants actually decreased at a CAGR of 1%, mainly due to the COVID-19 pandemic.

Sales of forging lubricants are projected to increase at 5.6% CAGR and be valued at close to US$ 1.2 Bn by 2031.

Replacing graphite-based lubricants with synthetic lubricants, increasing use of magnesium metal for forging, new technology for synthetic forging lubricants, and use of forged aluminum for electric vehicles are key market trends.

As per ratings on the basis of market share, market reach, clientele, etc., top 5 forging lubricant manufacturers account for around 2/3 market share.

The market for forging lubricants in Russia holds 35% share in the European market.

China, India, the U.S., Russia, and Germany are major demand centers for forging lubricants.

The U.S., Germany, Netherlands, France, Japan, and China are key producers and exporters of forging lubricants.

Through 2031, the market in Japan and South Korea is expected to expand at around 5% CAGR, with both countries accounting for 1/3 share of the East Asia market.

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