Published by Persistence MarketResearch
Posted on October 7, 2021
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.
Rising need to increase efficiency of manufacturing processes and lower manufacturing costs has led to adoption of metalworking machines in several industries, including processing, automobiles, and other heavy metal industries, which, in turn, has benefitted manufacturers of forging lubricants to a great extent.
Demand for forging lubricants is also being driven by increased activity in the metal forging industry across the world due to numerous uses in the automotive industry for developing lightweight vehicles and added benefit of stronger automotive components manufactured by forging than those manufactured by casting or machining.
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The global forging lubricants market is estimated to expand at a CAGR of 5.6% over the forecast period of 2021-2031.
Key Takeaways from Market Study
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“Developed regions such as North America and Europe are projected to witness significant demand for forging lubricants, owing to stringent regulations pertaining to greenhouse emissions, which will promote the use of water-based forging lubricants for aluminum and steel metal forging used for the production of light passenger vehicles,” says a Persistence Market Research analyst.
Competitive Landscape
The global forging lubricants market has been identified as a significantly consolidated market due to the presence of a number of key players. Some leading players included in the report, such as Henkel Corporation, FUCHS, Quaker Houghton, Moresco Corporation, The Hill and Griffith Company, Condat Group, Hardcastle Petrofer Pvt. Ltd., Chemtool Incorporated, Acme Refining LLC, and Lubgraf, are anticipated to create tough a competitive environment at the global level.
Conclusion
The global market for forging lubricants is expected to grow substantially owing to steady growth of metal machinery industries in developing regions such as South Asia Pacific and East Asia.
Additionally, key players are emphasizing on improving the formulations of forging lubricants. For instance, the forging process will lower cost, be more consistent, and also more energy-efficient and environmentally friendly.
However, increasing demand for graphite-free lubricants and growing awareness about the key advantages of using water-based lubricants free from graphite are likely to act as an opportunity for the market of eco-friendly forging lubricants.
Strong focus on commercializing new products and expanding premium products based on customers’ demand will play a key role in earning rich dividends. Shift toward light metals to meet stringent environmental regulations such as BS 6 norms will also aid market expansion.
Get full access of report: https://www.persistencemarketresearch.com/checkout/32691
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a market research report on the forging lubricants market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, by product, material, process, solvent, end-use industry, and region. The report also provides supply and demand trends, along with an overview of the parent market.
Related Reports:
About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Overview:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA – Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Visit Our Website: https://www.persistencemarketresearch.com
The post Which Region Offers the Largest Opportunity for Sales of Forging Lubricants? appeared first on Lake Shore Gazette.
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.
Rising need to increase efficiency of manufacturing processes and lower manufacturing costs has led to adoption of metalworking machines in several industries, including processing, automobiles, and other heavy metal industries, which, in turn, has benefitted manufacturers of forging lubricants to a great extent.
Demand for forging lubricants is also being driven by increased activity in the metal forging industry across the world due to numerous uses in the automotive industry for developing lightweight vehicles and added benefit of stronger automotive components manufactured by forging than those manufactured by casting or machining.
Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/32691
The global forging lubricants market is estimated to expand at a CAGR of 5.6% over the forecast period of 2021-2031.
Key Takeaways from Market Study
Ask an expert for any other query: https://www.persistencemarketresearch.com/ask-an-expert/32691
“Developed regions such as North America and Europe are projected to witness significant demand for forging lubricants, owing to stringent regulations pertaining to greenhouse emissions, which will promote the use of water-based forging lubricants for aluminum and steel metal forging used for the production of light passenger vehicles,” says a Persistence Market Research analyst.
Competitive Landscape
The global forging lubricants market has been identified as a significantly consolidated market due to the presence of a number of key players. Some leading players included in the report, such as Henkel Corporation, FUCHS, Quaker Houghton, Moresco Corporation, The Hill and Griffith Company, Condat Group, Hardcastle Petrofer Pvt. Ltd., Chemtool Incorporated, Acme Refining LLC, and Lubgraf, are anticipated to create tough a competitive environment at the global level.
Conclusion
The global market for forging lubricants is expected to grow substantially owing to steady growth of metal machinery industries in developing regions such as South Asia Pacific and East Asia.
Additionally, key players are emphasizing on improving the formulations of forging lubricants. For instance, the forging process will lower cost, be more consistent, and also more energy-efficient and environmentally friendly.
However, increasing demand for graphite-free lubricants and growing awareness about the key advantages of using water-based lubricants free from graphite are likely to act as an opportunity for the market of eco-friendly forging lubricants.
Strong focus on commercializing new products and expanding premium products based on customers’ demand will play a key role in earning rich dividends. Shift toward light metals to meet stringent environmental regulations such as BS 6 norms will also aid market expansion.
Get full access of report: https://www.persistencemarketresearch.com/checkout/32691
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a market research report on the forging lubricants market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, by product, material, process, solvent, end-use industry, and region. The report also provides supply and demand trends, along with an overview of the parent market.
Related Reports:
About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Overview:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA – Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Visit Our Website: https://www.persistencemarketresearch.com
The post Which Region Offers the Largest Opportunity for Sales of Forging Lubricants? appeared first on Lake Shore Gazette.
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