July 06, 2022 10:00 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, July 06, 2022 (GLOBE NEWSWIRE) -- According to the latest report on forging lubricants by Fact.MR, a market research and competitive intelligence provider, the global market is poised to be valued at US$ 6.1 billion in 2022 and progress at a CAGR of 3.7% between 2022 and 2032.
Defence budgets across the world have surged over the past decade. This has strengthened the demand for defence equipment across major economies such as the United States, China, and Russia, among others. Swelling demand for ammunition also bolsters the demand for forging lubricants. Many developing countries are desirous of acquiring advanced defence technologies and are investing in the establishment of newer defence industrial bases, which would also involve the installation of newer forging equipment.
The forging lubricants market is also being driven by steady demand from automotive manufacturers, who are the primary users of forging lubricants at their manufacturing plants where they forge metals, non-ferrous metals, and different alloys to make highly specialised designs.
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Key Takeaways from Market Study
An important strategy for forging lubricant manufacturers is to set up production facilities in specific locations and invest in the research and development of innovative products to meet the varied demands of end-use industries.
Manufacturers need to increase capacity, focus on sustainability, and aim to deliver innovative products tailored to the individual needs of end users.
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Key Segments in Forging Lubricants Industry Survey
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Fact.MR, in its new offering, presents an unbiased analysis of the forging lubricants market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on lubricant type (water-based (with graphite, without graphite), oil-based (graphite oil, others), coating-based (glass powder, frit, enamel, dry molybdenum, phosphates), forging material (steel, aluminium, bronze, brass, titanium alloy, nickel, super alloys, others), application (hot forging, cold forging), and forging operation (hydraulic press, mechanical press, hammers, circular & radial rolling mill, horizontal press, others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the chemical and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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