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Grease Market - Global Outlook and Forecast 2022-2027

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    Report

  • 274 Pages
  • July 2022
  • Region: Global
  • Arizton
  • ID: 5639203
UP TO OFF until Dec 31st 2022
1h Free Analyst Time
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The grease market is expected to grow at a CAGR of 3.57% during 2022-2027

Grease is a product that provides lubrication for mechanical parts and other components. Grease helps reduce friction, reduces wear of parts, and increases the efficiency and service life of components. Grease works as a sealant to minimize the leakage and keeps contaminants out. It also acts as a lubricating film and protects from rust. Grease is used in a wide range of lubrication operations.

Grease market is changing as the customers are demanding better-performing lubricants that will enhance efficiency and deliver better performance. Currently, metallic soap-based greases have a major market share. However, due to fluctuating raw material prices and stringent government regulations the consumers are shifting toward organic soap greases. Organic thickeners are also known as high-temperature thickeners. They are specially formulated to fulfil extreme lubrication requirements in long service applications.

Glance through the grease report of more than 275 pages comprising 167 tables and 80 exhibits to develop a deep understanding of the market.

MARKET TRENDS


Rising Trend Demand for Polyurea Grease


In 2021, lithium grease will have the largest market share in the global grease market. But due to the rise in the adoption of electric vehicles, there has been an increase in demand for lithium which is causing increasing the prices of raw materials of lithium grease. The lithium grease market is expected to grow at a CAGR of 4.9% during 2022-2027 Hence, there is a decline in the lithium grease market share. Polyurea being organic is gaining importance due to several advantages over lithium grease. In addition, polyurea greases have a bright scope for standardization of manufacturing procedures, making them a cost-effective alternative to lithium complex grease. And In addition, polyurea is made from organic components, thus more environmentally friendly than other metallic fat.

MARKET DRIVERS


Growing Industrial Sector in APAC


APAC region is set to become the fastest growing in terms of GDP growth in the world. The APAC region consists of emerging economies such as China, India, Indonesia, Thailand, the Philippines, and Vietnam. The growth will continue in the coming years due to factors such as large and relatively young populations, substantial physical and digital infrastructure investments, low-cost labor, and increased income.
The major automotive, manufacturing, food & beverages, and construction industries are booming in the APAC region. The automotive industry in APAC is one of the largest in the world as the countries like China and India are the significant markets for automotive.

INDUSTRY RESTRAINTS


Stringent Environmental Regulations


In recent years, the rise in global warming due to environmental pollution. Many countries have laid strict regulations for the use of chemical materials. Governing bodies across different countries have laid rules on grease due to its environmental effects. Grease consists of elements like base oil, thickener, and additives. Most of the types available in the market are made from mineral oil. Mineral oil has high eco-toxicity and low biodegradability; hence mineral oil-based greases make up for a considerable threat to the environment, thus creating pollution.

Grease, once used, is not recycled; hence should be managed appropriately. Waste grease on-site should be stored in proper containers, away from drains. This is because grease mixes with water or sewage drain can cause severe pH or foaming problems in streams and other waters. This causes problems such as water pollution, harm to aquatic life, and health hazard for humans.

SEGMENT REVIEW


Metallic is estimated to be the largest segment and the organic grease market is expected to grow at a CAGR of 5.7% during the forecast period


Metallic soap type thickener is currently the most used thickener in the world. Metallic soap-based grease is classified into three types: straight, mixed, and complex. These are further sub-categorized based on metals used. The metals used as thickeners are lithium, aluminum, calcium, and sodium. The straight metallic soap thickener has different properties based on metals such as lithium, aluminum, calcium, and sodium. Lithium soap is dominant and cheaper among the metallic thickeners and consists of properties such as excellent resistance to water and breakdown, high melting point, and good lubricity. Mixed greases are a combination of two or more metallic soaps to produce a grease that contains some of the desired properties of both metal soaps. Complex soaps are made by reaction of the alkali with a blend of a monobasic acid and a dibasic acid.
Organic thickened grease provides superior long-life stability, and corrosion protection and allows for excellent pumpability. Polyurea are the thickeners that are reaction products of di-isocyanate combined with mono and/or diamines. Over the coming years, the demand for organic grease will increase due to its various advantages such as being environmentally friendly, low toxicity, and high-temperature applications.

Mineral Oil-based greases are the largest segment and the bio-based grease market is expected to grow the fastest.

Mineral oil is often a liquid by-product of refining crude oil, which is manufactured from crude petroleum through distillation processes that include different refining steps, such as extraction, crystallization, purification by acid treatment, and hydrogenation. Currently, mineral oil is the most used base oil in grease production due to its excellent lubricating properties. One of the main advantages of mineral oils is that they are soluble with a wide range of additives which can help improve grease's overall performance. Mineral oils also are compatible with many grease thickener systems. Also, the cost of mineral oil is low compared to synthetic oil.

The automotive industry is the largest and fastest-growing end-user segment in the grease market.

Grease is used in Automotive, General Manufacturing, construction, mining, and other industries. High growth in the Automotive industry would drive the global grease market. Grease is used in various automotive parts such as CV joints, gear assembly, and electrically operated mechanisms such as windows, sunroofs & seats. Automotive grease is the lubricant that protects vehicle parts against friction and wears & tear. Grease has greater consistency compared to other automotive lubricants like motor oil. Grease is also used for the lubrication of old automobiles for maintenance. Automotive Greases protect against wear, oxidation, and rust, resulting in a longer lifespan for the mechanisms in the applications. The properties of grease used in vehicles also depend on the application, load, and environmental conditions in which the vehicle is being used.

The Grease Market Size, Share, & Trends Analysis Report by

  • Type: Metallic, Organic
  • Base Oil: Mineral, Bio-Based, Synthetic
  • End-Use: Automotive, General, Construction, Mining, and Others
Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2022-2027.

Geography

  • North America
  • US
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • APAC
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • Iran
  • South Africa
  • UAE
  • Rest of MEA

COMPANY AND STRATEGIES


The competitive scenario in the global grease market is currently intensifying. The constantly changing prices of raw materials are adversely affecting the vendors. For instance, vendors are finding it difficult to secure the lithium used in manufacturing the lithium grease.

The grease market consists of major global multinational players such as Shell plc (UK), ExxonMobil Corporation (US), Chevron Corporation (US), Sinopec Corporation (China), and Total Energies (France) in grease market. The major players focus on innovation, product diversification & entering new markets.

The grease market is provided for the forecast years 2022 to 2027 and the base year 2021. The market is segmented as per Type, Base-Oil, End-user, and Geography for the years considered. The report provides a holistic approach to the Grease industry to enable customers to analyze the market in an efficient manner.

Major Vendors

  • Shell plc
  • ExxonMobil Corporation
  • Chevron Corporation
  • Sinopec Corporation

Other Prominent Vendors

  • Axel Christiernsson
  • BEL-RAY
  • BHARAT PETROLEUM
  • CASTROL LIMITED
  • ENEOS Corporation
  • ENI
  • FUCHS
  • GULF OIL INDIA
  • HP Lubricants
  • IDEMITSU KOSAN Co.
  • KLUBER LUBRICATION
  • LUKOIL
  • ORLEN OIL
  • PETRO CANADA
  • PETRONAS
  • PHILLIPS 66
  • PT PERTAMINA
  • ROSNEFT LUBRICANTS
  • SKF
  • Valvoline

KEY QUESTIONS ANSWERED


1. WHAT IS THE PROJECTED MARKET SIZE AND GROWTH RATE OF THE GLOBAL GREASE MARKET BY 2027?
2. WHAT ARE THE KEY DRIVING FACTORS IN THE GLOBAL GREASE MARKET?
3. WHICH TYPE OF GREASE IS GOING TO BE IN DEMAND IN 2027?
4. WHO ARE THE KEY PLAYERS IN THE GLOBAL GREASE MARKET?
5. WHAT IS THE GROWTH RATE OF THE LITHIUM GREASE MARKET?

Table of Contents

1 Research Methodology2 Research Objectives3 Research Proces
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Value Chain
8 Abstract
8.1 Grease Market-Global Forecast (2022-2027)
8.1.1 Market Overview
8.2 Market Synopsis
8.2.1 Trends
8.2.2 Drivers
8.2.3 Restraints
8.3 Segment Review
8.3.1 Company and Strategies
9 Market Growth Enablers
9.1 Growing Industrial Sector in Apac
9.2 Rise of Automation in Industries
9.3 Growth in Alternate Powertrain Vehicles
10 Market Restraints
10.1 Issues Associated With Bleeding of Base Oil from Grease
10.2 Stringent Environmental Regulations
11 Market Opportunities
11.1 Increase in Sustainability Standards
11.2 Rising Demand for Polyurea Grease
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry
13 Thickener
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Metallic
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography (Value & Volume)
13.4 Organic
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography (Value & Volume)
14 Base Oil
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Mineral Oil
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Market by Geography (Value & Volume)
14.4 Synthetic Oil
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Market by Geography (Value & Volume)
14.5 Bio-Based Oil
14.5.1 Market Overview
14.5.2 Market Size & Forecast
14.5.3 Market by Geography (Value & Volume)
15 End-user
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Automotive
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Market by Geography (Value & Volume)
15.4 General Manufacturing
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.4.3 Market by Geography (Value & Volume)
15.5 Construction
15.5.1 Market Overview
15.5.2 Market Size & Forecast
15.5.3 Market by Geography (Value & Volume)
15.6 Mining
15.6.1 Market Overview
15.6.2 Market Overview
15.6.3 Market by Geography (Value & Volume)
15.7 Others
15.7.1 Market Overview
15.7.2 Market Size & Forecast
15.7.3 Market by Geography (Value & Volume)
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Thickener Type
17.3.1 Market Size & Forecast (Value & Volume)
17.4 Base Oil
17.4.1 Market Size & Forecast (Value & Volume)
17.5 End-user
17.5.1 Market Size & Forecast (Value & Volume)
17.6 Key Countries
17.7 US
17.7.1 Us: Market Size & Forecast
17.8 Canada
17.8.1 Canada: Market Size & Forecast
18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Thickener Type
18.3.1 Market Size & Forecast (Value & Volume)
18.4 Base Oil
18.4.1 Market Size & Forecast (Value & Volume)
18.5 End-user
18.5.1 Market Size & Forecast (Value & Volume)
18.6 Key Countries
18.7 Germany
18.7.1 Germany: Market Size & Forecast
18.8 UK
18.8.1 Uk: Market Size & Forecast
18.9 France
18.9.1 France: Market Size & Forecast
18.10 Italy
18.10.1 Italy: Market Size & Forecast
18.11 Spain
18.11.1 Spain: Market Size & Forecast
18.12 Russia
18.12.1 Russia: Market Size & Forecast
18.13 Rest of Europe
18.13.1 Rest of Europe: Market Size & Forecast
19 Apac
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Thickener Type
19.3.1 Market Size & Forecast (Value & Volume)
19.4 Base Oil
19.4.1 Market Size & Forecast (Value & Volume)
19.5 End-user
19.5.1 Market Size & Forecast (Value & Volume)
19.6 Key Countries
19.7 China
19.7.1 China: Market Size & Forecast
19.8 India
19.8.1 India: Market Size & Forecast
19.9 Japan
19.9.1 Japan: Market Size & Forecast
19.10 Australia
19.10.1 Australia: Market Size & Forecast
19.11 South Korea
19.11.1 South Korea: Market Size & Forecast
19.12 Rest of Apac
19.12.1 Rest of Apac: Market Size & Forecast
20 Latin America
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Thickener Type
20.3.1 Market Size & Forecast (Value & Volume)
20.4 Base Oil
20.4.1 Market Size & Forecast (Value & Volume)
20.5 End-user
20.5.1 Market Size & Forecast (Value & Volume)
20.6 Key Countries
20.8 Brazil
20.8.1 Brazil: Market Size & Forecast
20.9 Mexico
20.9.1 Mexico: Market Size & Forecast
20.10 Rest of Latin America
20.10.1 Rest of La: Market Size & Forecast
21 Middle East & Africa
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Thickener Type
21.3.1 Market Size & Forecast (Value & Volume)
21.4 Base Oil
21.4.1 Market Size & Forecast (Value & Volume)
21.5 End-user
21.5.1 Market Size & Forecast (Value & Volume)
21.6 Key Countries
21.7 Saudi Arabia
21.7.1 Saudi Arabia: Market Size & Forecast
21.8 Uae
21.8.1 Uae: Market Size & Forecast
21.9 South Africa
21.9.1 South Africa: Market Size & Forecast
21.10 Rest of Middle East & Africa
21.10.1 Rest of Middle East & Africa: Market Size & Forecast
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 Chevron Corporation
23.1.1 Business Overview
23.1.2 Chevron Corporation in Grease Market
23.1.3 Product Offerings
23.1.4 Key Strategies
23.1.5 Key Strengths
23.1.6 Key Opportunities
23.2 Exxonmobil Corporation
23.2.1 Business Overview
23.2.2 Exxonmobil Corporation in Grease Market
23.2.3 Product Offerings
23.2.4 Key Strategies
23.2.5 Key Strengths
23.2.6 Key Opportunities
23.3 Shell plc
23.3.1 Business Overview
23.3.2 Shell plc in Grease Market
23.3.3 Product Offerings
23.3.4 Key Strategies
23.3.5 Key Strengths
23.3.6 Key Opportunities
23.4 Sinopec Corporation
23.4.1 Business Overview
23.4.2 Sinopec Corporation in Grease Market
23.4.3 Product Offerings
23.4.4 Key Strategies
23.4.5 Key Strengths
23.4.6 Key Opportunities
23.5 Total Energies
23.5.1 Business Overview
23.5.2 Total Energies in Grease Market
23.5.3 Product Offerings
23.5.4 Key Strategies
23.5.5 Key Strengths
23.5.6 Key Opportunities
24 Other Prominent Vendors
24.1 Axel Christiernsson
24.1.1 Business Overview
24.1.2 Product Offerings
24.2 Bel-Ray
24.2.1 Business Overview
24.2.2 Product Offerings
24.3 Bharat Petroleum Corporation Limited
24.3.1 Business Overview
24.3.2 Product Offerings
24.4 Castrol Limited
24.4.1 Business Overview
24.4.2 Product Offerings
24.5 Eneos Corporation
24.5.1 Business Offerings
24.5.2 Product Offerings
24.6 Eni
24.6.1 Business Overview
24.6.2 Product Offerings
24.7 Fuchs
24.7.1 Business Overview
24.7.2 Product Offerings
24.8 Gulf Oil India Lubricants
24.8.1 Business Overview
24.8.2 Product Offerings
24.9 Hp Lubricants
24.9.1 Business Overview
24.9.2 Product Offerings
24.10 Idemitsu Kosan Co. Ltd.
24.10.1 Business Overview
24.10.2 Product Offerings
24.11 Klüber Lubrication
24.11.1 Business Overview
24.11.2 Product Offerings
24.12 Lukoil
24.12.1 Business Overview
24.12.2 Product Offerings
24.13 Orlen Oil
24.13.1 Business Overview
24.13.2 Product Offerings
24.14 Petro Canada Lubricants Inc.
24.14.1 Business Overview
24.14.2 Product Offerings
24.15 Petronas Lubricants International
24.15.1 Business Overview
24.15.2 Product Offerings
24.16 Phillips 66
24.16.1 Business Overview
24.16.2 Product Offerings
24.17 Pt Pertamina Lubricants
24.17.1 Business Overview
24.17.2 Product Offerings
24.18 Rn Lubricants LLC
24.18.1 Business Overview
24.18.2 Product Offerings
24.19 Skf
24.19.1 Business Overview
24.19.2 Product Offerings
24.20 Valvoline
24.20.1 Business Overview
24.20.2 Product Offerings
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Market by Thickener Type
26.1.1 Metallic (Value)
26.1.2 Metallic (Volume)
26.1.3 Organic (Value)
26.1.4 Organic (Volume)
26.2 Market by Base Oil
26.2.1 Mineral Oil (Value)
26.2.2 Mineral Oil (Volume)
26.2.3 Synthetic Oil (Value)
26.2.4 Synthetic Oil (Volume)
26.2.5 Bio-Based Oil (Value)
26.2.6 Bio-Based Oil (Volume)
26.3 Market by End-user
26.3.1 Automotive (Value)
26.3.2 Automotive (Volume)
26.3.3 General Manufacturing (Value)
26.3.4 General Manufacturing (Volume)
26.3.5 Construction (Value)
26.3.6 Construction (Volume)
26.3.7 Mining (Value)
26.3.8 Mining (Volume)
26.3.9 Others (Value)
26.3.10 Others (Volume)
27 Appendix
27.1 Abbreviations

Companies Mentioned

  • Shell plc
  • ExxonMobil Corporation
  • Chevron Corporation
  • Sinopec Corporation
  • Axel Christiernsson
  • BEL-RAY
  • BHARAT PETROLEUM
  • CASTROL LIMITED
  • ENEOS Corporation
  • ENI
  • FUCHS
  • GULF OIL INDIA
  • HP Lubricants
  • IDEMITSU KOSAN Co.
  • KLUBER LUBRICATION
  • LUKOIL
  • ORLEN OIL
  • PETRO CANADA
  • PETRONAS
  • PHILLIPS 66
  • PT PERTAMINA
  • ROSNEFT LUBRICANTS
  • SKF
  • Valvoline

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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