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New York, Oct. 12, 2017 (GLOBE NEWSWIRE) -- Persistence Market Research delivers key insights on the global automotive die casting lubricants market in its latest report titled ‘Automotive Die Casting Lubricants Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’. The long-term outlook on the global automotive die casting lubricants market remains positive, with market value expected to increase at a CAGR of 5.1% during the forecast period (2017– 2025). The sales of automotive die casting lubricants was valued at US$ 101.6 Mn in 2016, witnessing a Y-o-Y growth of 4.8% over the year 2015. Asia Pacific accounted for a value share of 52.0% in the global automotive die casting lubricants market in 2016 and it is anticipated to retain its dominance throughout the forecast period.
Among type of lubricants, water based die casting lubricants segment is expected to expand at a significant CAGR in terms of value over the forecast period because of the additional cooling and thermal stability caused due to the high evaporation rate of water. Among die casting metal type, aluminium continues to be the most commonly used material for die casting of automotive parts and requiring significant amount of lubricants for proper release, finish and strength of the die casted part. Considering the lubricant type segment, die lubricants are projected to show relatively high growth over the forecast period. This is because 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. In order to reduce the problems of porosity, uneven finish and non-uniformity, various technological advancements are being done to deduce methods that could improve the quality and efficiency of the die casting process. One such method is vacuum assisted die casting. Moreover, new grade alloys that can be die casted are also being developed as these provide better mechanical strength and thermal stability. Increasing local and foreign investments in the automotive sector especially in regions such as Latin America and Middle East and Africa is also anticipated to drive the market growth.
Segmentation Analysis
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On the basis of lubricant type, the die lubricant segment is anticipated to expand at a significant CAGR over the forecast period. This segment accounted for more than 90% of the overall volume share in 2016
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On the basis of type, the water based segment will continue to dominate the global automotive die casting lubricants market throughout the forecast period
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Aluminum is the dominant die casting metal in the automotive die casting lubricants market. Magnesium being even lighter than aluminum is also projected to grow at a significant CAGR over the forecast period. A number of automotive components are die casted using zinc, and hence this segment is expected to hold a considerable share in the global automotive die casting lubricants market.
Regional Analysis
Asia Pacific is anticipated to hold a dominant share in the global automotive die casting lubricants market throughout the forecast period. This segment held 53.0% value share of the global market by volume in 2016. China is a major player in the Asia Pacific automotive die casting lubricants market with the region representing more than 50% of the regional consumption.
Other regions such as Latin America and Middle East and Africa are witnessing an increasing use of automotive die casting lubricants. This is attributed to increasing investments in the automotive sector in the region and the growth of aluminum and other nonferrous metal foundries over the forecast period.
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