Demand for Forging Lubricants is expected to Surge by 5.3% CAGR Throughs 2031

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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.

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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.