Automotive Die Casting Lubricant Market to Reach US$ 180.6 Million by 2034 with a Steady 3.7% CAGR

Increasing vehicle ownership and rising income levels in emerging countries are raising the sales of automotive die casting lubricants.

ROCKVILLE, MD, UNITED STATES, December 3, 2024 /EINPresswire.com/ -- The global automotive die casting lubricant market is estimated to reach US$ 125.6 million in 2024 and expand at a consistent 3.7% CAGR through 2034. The market is forecast to attain a valuation of US$ 180.6 million by 2034.

Increasing investments in vehicles in developed and developing countries are raising the demand for die casting, a critical process in manufacturing different automotive components. As the deployment of die casting surges, so does the demand for lubricants, particularly formulated for die casting in the automotive sector.

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Surging advancements in die casting technology, like vacuum die casting and high-pressure casting, are breaking the set boundaries. These advancements need specialized lubricants that can effectively endure higher temperatures, pressures, and casting speeds while ensuring component quality and optimal performance. Thus raising the demand for advanced automotive die casting lubricants.

”Opportunities for market players continue to emerge as governments mandate regulations in favor of electric vehicles," says a Fact.MR analyst.

Key Takeaways from the Automotive Die Casting Lubricant Market Study

In 2019, the automotive die casting lubricant market was valued at US$ 104.7 million, reflecting its foundational importance in supporting high-quality die-casting processes. East Asia is set to dominate the market, securing a value share of 36.5% in 2024 with an estimated market worth of US$ 45.8 million. The region is expected to grow steadily at a CAGR of 4.2%, reaching US$ 69.3 million by 2034. North America, another significant market, is forecast to hold a 28.6% share in 2024, achieving a valuation of US$ 35.9 million. From there, it is projected to expand at a CAGR of 3.8%, culminating in a market size of US$ 52.5 million by 2034. This growth highlights the increasing adoption of advanced lubricants to enhance efficiency and precision in die-casting processes across these regions.

Among product segments, water-based automotive die casting lubricants are poised for notable growth, reflecting their rising preference due to environmental and performance advantages. In 2024, this segment is anticipated to capture a 31.5% market share, with revenue expected to reach US$ 39.6 million. Looking ahead, water-based lubricants are forecast to grow significantly, achieving total sales of US$ 59.2 million by 2034. The segment's robust expansion underscores its pivotal role in driving sustainable practices within the automotive manufacturing sector.

U.S. and China Drive Automotive Die Casting Lubricant Market Growth

The United States is set to lead the North America automotive die casting lubricant market, capturing 71.7% of the regional share with an estimated valuation of US$ 25.7 million in 2024, projected to grow at a 4.1% CAGR and reach US$ 38.6 million by 2034. High passenger car sales, favorable government policies, and stringent quality standards from ANSI and ASME make the U.S. a prime market. Meanwhile, China is expected to dominate the East Asia market, holding 56.9% of the regional share with a valuation of US$ 26.1 million in 2024, growing at a 4.3% CAGR to achieve US$ 39.7 million by 2034. China’s growth is fueled by surging automotive production, increasing demand for lightweight components, and a robust automotive industry, positioning it as a highly attractive market for die casting lubricants.

Competitive Landscape

Key players are competing for a larger market share by organic as well as inorganic methodologies. A few of them include market expansion, mergers and acquisitions, new launches, product diversification, etc.

An article published in October 2023 indicates an increase in auto manufacturers shifting to gigacasting over conventional metal sheet fabrication. The recently made available prototype of gig casting equipment by Toyota, a die-casting process, offers to drastically reduce manufacturing lead time, production processes, and plant investment. This brings the company near its objective of producing 3.5 million EVs/ year by 2030.

In January 2024, Xiaomi launched its first-ever EV car, called Xiaomi SU7, at a launch event for electric vehicle technology. The event successfully exhibited five main technologies of Xiaomi's electric vehicle, including die casting, eMotor, pilot autonomous driving, battery, and smart cabin. The company positions the car as a full-size, high-functioning eco-technology sedan, intending to push the limits of ecosystem, performance, and mobile smart space.

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Explore More Related Studies Published by Fact.MR Research:

Bio Lubricant Market: The global bio lubricant market is estimated to be valued at US$ 1,654.7 million in 2024. It is accounted to reach a valuation of US$ 2,674.6 million by 2034, projected at a CAGR of 4.7% from 2024 to 2034.

Aluminum Die Casting Mold Release Agent Market: The global aluminum die casting mold release agent market size is estimated at US$ 308.4 million in 2024 and is forecasted to reach US$ 573.4 million by 2034-end, expanding at a CAGR of 4.9% from 2024 to 2034.

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