Industrial Greases Market

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INDUSTRIAL GREASES MARKET ANALYSIS

• Industrial Greases Market, By Base Oil Type
  (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil,
  Bio-Based), By Thickener Type (Simple Metal
  Soaps, Non-Soap Thickener, Complex Metal Soaps),
  By Application (On-Road Vehicles, Mining and
  Metallurgy, Off-Highway and Construction, Auto
  manufacturing, Other transportation, Other
  Manufacturing), and By Region (North America,
  Latin America, Europe, Asia Pacific, Middle East
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2020 2027
•  

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Industrial greases are classified as lubricant
used to reduce the friction between two surfaces
making it slippery and smooth. Greases reduce the
risk of wear and tear of the machinery component
and increase the reliability of the machine. It
has an excellent water-resistant property which
is beneficial for preventing any leakage due to
gravity. Automotive is the largest consumer of
greases where it is used in automobile
production. Greases are also used across a wide
range of construction industry, especially in the
residential sector. Industrial greases are also
efficient in blocking the contaminant, reducing
noise and power consumption.The global
industrial greases market is projected to reach
around US 2623.3 million by the end of 2027, in
terms of revenue, growing at CAGR of 5.5 during
the forecast period (2020-2027).

• Drivers
• Rising demand for industrial greases from the
  Asia Pacific region as it is accounted for the
  largest consumer of grease due to the presence of
  a large number of industries is expected to
  propel the market growth. Growth in the
  construction and manufacturing industries across
  the ASEAN region is further increasing the
  consumption of greases. All these factors are
  expected to augment the market growth of
  industrial greases.
• Rising demand for high-performance greases that
  can withstand high pressure and the temperature
  is projected to augment the market growth
  industrial grease. Growing demand for greases
  from metalworking and metallurgical industry
  coupled with the increasing production of heavy
  equipment for high-end applications is further
  anticipated to augment the market growth of
  industrial grease over the forecast period. 

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Figure 1. Global Industrial Greases Market Share
() in terms of Value, By Region, in 2019
Asia Pacific region dominated the global
industrial greases market in 2019, accounting
for 39.2 share in terms of value, followed by
North America and Europe, respectively.
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Market Restraints

• Strict emission rules and regulations related to
  emissions of harmful gases is expected to hamper
  the market growth of industrial grease. This is
  attributed to rising government concerns and
  efforts in order to reduce global warming. This
  factor is projected to restrict the market growth
  of industrial grease.
• Limited production of mineral oils coupled with
  the volatile prices of crude oil is expected to
  hinder the market growth of the industrial grease
  over the forecast period.

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Market Opportunities

• Rising demand for food-grade industrial grease
  used across food processing equipment is expected
  to offer numerous growth opportunities to the
  market of industrial grease. These food-grade
  greases are used across lubricant bearings,
  linkages, and moving joints of the equipment used
  in the food industry. Food grade greases are
  expected to offer a new opportunity to the market
  of industrial grease.
• Growth in mechanization coupled with the increase
  in industrial production especially across the
  Asia Pacific region is expected to augment the
  market growth over the forecast period.
  Increasing utilization of grease across the
  manufacturing sector for enhancing the
  performance and reliability of machines is
  further expected to fuel the market growth of
  industrial grease.

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Figure 2. Global Industrial Greases Market
Opportunity Analysis 
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Market Trends

• Growth in the oil gas industry especially in the
  UAE region due to increasing investment by the
  regional government is projected to accelerate
  the market growth of the industrial greases over
  the forecast period. For instance, in November
  2018, Abu Dhabis Supreme Petroleum Council (SPC)
  has approved a five-year, 132bn investment plan
  proposed by Abu Dhabi National Oil Companys
  (Adnoc) aimed at increasing the UAEs oil and gas
  production capacity.
• The growing demand for grease from the marine and
  boating industry is anticipated to be a major
  factor propelling the market growth of industrial
  greases. For instance, in March 2019, Zaeto
  launched five environmentally friendly grease and
  lubricant products for the marine industry. This
  includes marine engine treatment, marine 4 stroke
  engine treatment, marine grease, marine aerosol
  lubricant, and marine aerosol grease. Thus
  growing demand for grease from the marine
  industry is expected to propel the market growth.

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Figure 3. Global Industrial Greases Market Share
() in terms of Value, By Application, in 2019
On the basis of application in 2019, the other
manufacturing segment has accounted the largest
market share of 27.6 in terms of value, followed
by on road vehicles and mining metallurgy
respectively
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Competitive Section Company Names  Belray
Company LLC Texaco Inc. Exxon Mobil Whitmore
Manufacturing Co. Axel Christiernsson Klüber
Lubrication München SE Co. KG Dow Corning
Corporation Sinopec Lubricant Company Lubriplate
lubricant Co. Royal Dutch Shell
plc Castrol Chemtool Incorporated ETS
Australia Total SE Fuchs Petrolub SE  Caltex
Australia  
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