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Grease Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4515788
  • Report
  • 150 pages
  • Mordor Intelligence
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  • Axel Christiernsson
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Kluber Lubrication
  • Orlen Oil
  • Petromin
  • MORE
Market Overview

The market for grease is expected to register a CAGR of 2.15% during the forecast period of 2019 – 2024. Major factors driving the market studied are the growing manufacturing sector in the Asia-Pacific region and the industrial growth in Middle East & Africa. However, high prices of synthetic greases is expected to hinder the growth of the grease market.
  • Automotive and the transportation industry was found to be the dominating end-user industry for grease in 2018. Whereas, consumption of grease in chemical manufacturing is expected to register the highest CAGR through the forecast period.
  • Numerous upcoming construction projects in North America and Asia-Pacific regions are likely to act as an opportunity in the future.
  • Asia-Pacific dominated the grease market followed by North America and Europe across the globe with the largest consumption from countries, such as China, India, United States, and Germany, among others.
Key Market Trends

Growing Usage of High Performance Greases
  • High-performance lubricants, also known as synthetic lubricants, are gaining popularity due to their excellent properties over mineral oil lubricants. The synthetic lubricant segment is constantly gaining market share and is projected to be the fastest growing segment during the forecast period.
  • Synthetic lubricants offer better and improved properties, in comparison to mineral lubricants, such as low-traction coefficient to reduce power consumption, reduce gear wear, increased service life, and reduced flammability to increase safety, among many others.
  • This, in turn, makes them most suited for extreme high-temperature applications, and other complex and specific applications (such as heavily loaded gearboxes, etc).
  • Currently, the synthetic lubricants segment is the fastest growing, in terms of base stock type. Regarding consumption, Europe is the largest market for synthetic and semi-synthetic lubricants, worldwide.
  • Additionally, with the improving financial status of the middle-class consumers, the demand for high-end automobiles is growing in Asia-Pacific, thus, boosting the demand for high-performance lubricants in the region, consequently, making Asia-Pacific the largest market for synthetic lubricants in the coming years.
  • The demand for high-performance lubricants is also increasing rapidly from the industrial sector. The properties of these lubricants, of reducing friction and wear, resistance to caustic chemicals, oxygen compatibility, longevity, and extended lubrication intervals, have led to the increase in their demand.
  • The aforementioned factors are driving the market for grease globally.
Asia-Pacific to Dominate the Market

Asia-Pacific was found to be the major market for the consumption of grease followed by North America and Europe. China, India, and Indonesia are expected to be leading countries witnessing strong demand for grease consumption during the forecast period. Asia-Pacific has been a potential region for the growth in automotive production and sales, with countries, such as China, India, Indonesia, and Malaysia exhibiting constant growth rates in 2018. However, there was a decline in automotive production in China (a major automotive producer in the region) in 2018. Other end-user industries, such as construction and manufacturing are growing, with increasing investments in ASEAN countries, which is further contributing to the growth of the lubricants consumption as a whole and grease in particular, in the region. The aforementioned factors are contributing to the increasing demand for grease consumption in the region during the forecast period.

Competitive Landscape

The grease market is highly fragmented with the top five players accounting for about 20-30% of the market. The major companies include Royal Dutch Shell Plc, Exxon Mobil Corporation, BP Plc (Castrol), FUCHS, and China Petrochemical Corporation (Sinopec).
Note: Product cover images may vary from those shown
2 of 4


  • Axel Christiernsson
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Kluber Lubrication
  • Orlen Oil
  • Petromin
  • MORE
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study



4.1 Drivers
4.1.1 Increasing Manufacturing Sector in Asia-Pacific
4.1.2 Growing Usage of High-performance Greases
4.1.3 Industrial Growth in Middle East & Africa
4.2 Restraints
4.2.1 High Prices of Synthetic Greases
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5.1 Thickeners
5.1.1 Metal Soaps
5.1.2 Other Thickeners
5.2 End-user Industry
5.2.1 Power Generation
5.2.2 Automotive and Other Transportation
5.2.3 Heavy Equipment
5.2.4 Food and Beverage
5.2.5 Metallurgy and Metal Working
5.2.6 Chemical Manufacturing
5.2.7 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Philippines Indonesia Malaysia Thailand Vietnam Rest of Asia-Pacific
5.3.2 North America United States Canada Rest of North America
5.3.3 Europe Germany United Kingdom Italy France Russia Turkey Spain Rest of Europe
5.3.4 South America Brazil Argentina Columbia Chile Rest of South America
5.3.5 Middle East Saudi Arabia Iran Iraq UAE Kuwait Rest of Middle East
5.3.6 Africa Egypt South Africa Nigeria Algeria Morocco Rest of Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Axel Christiernsson
6.4.2 BECHEM Lubrication Technology, LLC
6.4.3 Calumet Branded Products, LLC
6.4.4 BP Plc (Castrol)
6.4.5 Chevron Corporation
6.4.6 ETS
6.4.7 Exxon Mobil Corporation
6.4.8 FUCHS
6.4.9 Gazpromneft - Lubricants, Ltd.
6.4.10 JXTG Nippon Oil & Energy Corporation
6.4.11 Kluber Lubrication
6.4.12 Jiangsu Lopal Tech Co. Ltd
6.4.13 Lukoil
6.4.14 Orlen Oil
6.4.15 Penrite Oil
6.4.16 Petromin
6.4.17 Petroliam Nasional Berhad (PETRONAS)
6.4.18 Suncor Energy Inc (Petro-Canada)
6.4.19 Royal Dutch Shell Plc
6.4.20 China Petrochemical Corporation (Sinopec)
6.4.21 SKF
6.4.22 Total SA

7.1 Numerous Upcoming Construction Projects in North America and APAC
Note: Product cover images may vary from those shown
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4 of 4
  • Axel Christiernsson
  • BECHEM Lubrication Technology, LLC
  • Calumet Branded Products, LLC
  • BP Plc (Castrol)
  • Chevron Corporation
  • ETS
  • Exxon Mobil Corporation
  • Gazpromneft - Lubricants, Ltd.
  • JXTG Nippon Oil & Energy Corporation
  • Kluber Lubrication
  • Jiangsu Lopal Tech Co. Ltd
  • Lukoil
  • Orlen Oil
  • Penrite Oil
  • Petromin
  • Petroliam Nasional Berhad (PETRONAS)
  • Suncor Energy Inc (Petro-Canada)
  • Royal Dutch Shell Plc
  • China Petrochemical Corporation (Sinopec)
  • SKF
  • Total SA
Note: Product cover images may vary from those shown