Check out Grease Market: Global Industry analysis, Global market analysis, Forecasts and opportunity assessment of Grease (2017-2022)
Introduction of Grease
Greases are semi-solid water-resistant lubricants extensively used in industries across almost all sectors. Grease is extremely crucial for machines to work smoothly and protect them against rust and corrosion. Global grease market is highly fragmented and competitive in response to evolving needs of consumer industries and demand for application-specific high-performance lubricants. The market growth forecast is projected to be significantly high due to rapid industrialization and a positive growth rate of end-user industries worldwide.
End Users of Grease
Grease is used in every industry that uses machines. However, most prominent users of grease are automobiles, manufacturing, mining, construction and energy sector. Regular application of grease to machines lowers power consumption and daily wear and tear against friction and increases working life and efficiency of machines, therefore maximizing the utilization rate.
Market Dynamics of Grease
Grease is used as a finished product in industrial and commercial activities. In the present-day business scenario, manufacturing and commercial industries are enjoying positive growth across the world, fuelling the demand in grease market. Owing to high competition businesses are extending their machines’ working life up to the maximum extent and demand for high performance or advanced greases is increasing. Further, expansion of automotive industries in Europe and rapid urbanization in emerging markets is propelling the growth in global grease market.
However, the market has to cater to the upgrading needs of industries for environmentally friendly and high-performance application-specific grease varieties as they undergo technological advancements. This incurs high research & development cost and also higher risk against stricter quality standards. Further, price volatility and irregularities in the raw materials market hit the market adversely.
Market Segmentation of Grease
The global grease market is segmented based on the type of thickener and application type. By thickener, the market is divided into Metal Soap Thickener, Non-Soap Thickener, Inorganic Thickener, and others. Due to its multifunctional and heat stable properties Metal Soap Thickener grease is the dominant product category. By application industry, the market segments are Automotive, Construction, General Manufacturing, Steel, Mining and Other. Automotive is the largest and fastest growing industry with both commercial and passenger vehicle segments driving the growth upwards.
Geographic Analysis of Grease
Geographically the market is divided into regional markets of North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe are the biggest markets for grease owing to the highly dense presence of the automobile and manufacturing industries in the region. The Asia Pacific is the fastest growing region driven by the growing demand of automotive and construction sectors in China, Japan, India, and Thailand.
Opportunities in Grease
With increasing disposable income and rapid industrialization, environmental regulations are getting tougher all over the world and the need for environmentally safe and biodegradable products is getting more urgent. Developing such products and focusing on functionality will provide great growth opportunities for the market, helping businesses secure higher product margins with high-performance products.
Key Players in the market
Some of the major players in global grease market are Chevron Corporation, Royal Dutch Shell PLC, Sinopec Corporation, BP PLC, Petronus, Exxon Mobil Corporation, Fuchs Petrolub SE, Castrol, Balmer Lawrie & Co etc.
- Grease Market Segments
- Grease Market Drivers, Restraints and Opportunities
- Grease Market Size and Forecast 2016 to 2022
- Supply and Demand Value Chain
- Grease Market Current Trends
- Competition and Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis of Global Grease Market includes
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Report Highlights for Grease include:
- Detailed Historical Overview (Market Origins, Product Launch Timelines etc.)
- Consumer and Pricing Analysis
- Market Dynamics of the Industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of Volume and Value
- Recent Market Trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage