Showing posts with label Global Grease Industry. Show all posts
Showing posts with label Global Grease Industry. Show all posts

Wednesday, February 1, 2023

Global Grease market expected to record a CAGR of ~5% during the forecast period (2017-2028): Ken Research

 What Is The Size Of Global Grease Industry?

Global Grease market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.

The Grease Market is largely driven by increased automation in multiple industries and rising demand from the automotive sector.

Rising demand from the automotive sector is one of the key factors driving the grease market. Grease is used in vehicles for suspension, chassis, arm-shafts, u-joints, and others. As per the International Organization of Motor Vehicle Manufacturers, an organization working in the interest of vehicle manufacturer and assemblers, stated that vehicle production increased by 3% from 2020 to 2021 after declining by 13% from 2019 to 2020.  Automotive is the largest end-user of grease, increasing demand for vehicles will directly help the grease market.

The grease used in heavy equipment, wind power, aerospace, and food industry is specifically manufactured and graded by companies. As per International Air Transportation Association (IATA), a trade association for the world’s airlines, mentioned in the fact sheet for June 2022, cargo aerospace revenue is US$ 100.08 billion and is estimated to grow by US$191 billion from 2019 to 2022.

Furthermore, Environmental concern is one of the major challenges for the grease market as waste material is discharged to the nearby waterbodies. For instance, the Lubricating Oil and Greases Order, 1987 is an act passed in India which overlooks the restrictions imposed on the processing and storing of greases and lubricating oils.

Global Grease Industry

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Global Grease Market By Thickener

The Global Grease market is segmented by Thickener into Metallic Soap, Non-Soap and Inorganic.

Metallic soap holds the largest share of the Global Grease market in 2022. Metallic soap thickener greases used in multiple industries such as automotive, manufacturing, steel, marine, construction, and others.

Sodium hydroxide, lithium hydroxide, and other materials are mixed with organic fatty acids in the oil and heated to prepare metallic greases.

Metallic soap is the most common type of thickener used in the industry. There are multiple varieties of metallic soap greases are available in the market such as lithium, calcium, aluminum, and others.

Global Grease Market By Base Oil

The Global Grease Market is segmented by Base Oil into Mineral Oil, Synthetic Oil and Bio-Based Oil.

Mineral oil segment accounted for the largest market share in 2022, as it used for multiple applications such as bearings, chains, gears, slides, and threaded connections.

According to Enerdata, an energy intelligence company, stated in a report that global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020.

In 2021, as stated by Enerdata, the US crude oil production (17% of global output) increased by 1.3%. Increased production of crude oil is likely to propel the growth for mineral oil.

Global Grease Market By End-User

The Global Grease market is segmented by End-User into Automotive, Power Generation, Food & Beverages, Aerospace, Chemical Manufacturing and Mining and Metals.

Automation and transportation dominated the end-user segment in 2022, as grease is used in lubrication of suspension, chassis, arm-shafts, u-joints, and others.

According to the Organization of Vehicle Manufacturers (OICA), China was the largest producer of motor vehicles with 26 million units in 2021, an increase of 3% from 2020. India was the second largest producer of motor vehicles in the Asia Pacific with 4.4 million units in 2021, with an increase of 30% from 2020.

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Key Topics Covered in the Report

  • Snapshot of Global Grease Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Grease Market
  • Historic Growth of Overall Global Grease Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of Global Grease Industry
  • Overview, Product Offerings, and Strength & Weakness of Key Competitors
  • Covid 19 Impact on the Overall Global Grease Market
  • Future Market Forecast and Growth Rates of the Total Global Grease Market and by Segments
  • Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
  • Analysis of Global Grease Market
  • Major Production/Supply and Consumption/Demand Hubs in Each Major Region
  • Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Continent

 Key Profiled Companies Mentioned in the Report

  • Castrol
  • Royal Dutch
  • Exxon Mobil
  • Eni
  • Chevron Corporation
  • FUCHS PETROLUB SE
  • Sinopec Corporation
  • Total Energy
  • ENEOS Corporation
  • Phillips 66
  • CITGO
  • Indian Oil Corporation Ltd.

Notable Emerging Companies Mentioned in the Report

  • Inzin
  • GreaseBoss
  • Bansal Oil and Lubricants Co.
  • Henan Dongsen Lubrication Technology Co., Ltd.
  • Ganga Sagar Trading Co.
  • Continental Oils & Lubricants FZE

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Grease Manufacturing Companies
  • Grease Distributors
  • Grease Traders
  • Grease Material Supplier Companies
  • Potential Investors in Grease Companies
  • Lubrication Association
  • Grease Association
  • Oil and Lubrication Sector
  • Lubrication Manufacturing Companies
  • Research & Development Institutes
  • Government Investors
  • Consulting companies in the lubrication sector
  • Grease component providers
  • Non-Soap and Metallic Soap component manufacturers
  • Government and research organizations
  • Investment banks
  • Investors and financial community professionals
  • Investment Funds

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022-2028F

For More Information on the Research Report, refer to below links: –

Global Grease Market

Friday, October 7, 2022

3 Key Insights on Competitive Landscape in Global Grease Market: Ken Research

Few Diverse Global Players Dominate the Market Holding ~40% of Revenue Share Despite Presence of approximately 200 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Grease Market by Ken Research

Grease is a solid or semisolid liquid lubrication. Lubricating grease consists of 65 to 95% base oil, 3 to 30% thickener, and 0 to 10% additives. The main function of grease is to provide lubrication without leaking and contacting the material. The functional properties of grease include better performance than oil, solid sealant, prevents leakage, and uncontrollable fluid level. It is used in multiple industries such as automotive and transport, chemical, food processing, wind generation, heavy equipment, steel, mining, general manufacturing, and others. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

Global Players Who Comprise ~15% in Terms of Number of Competitors Hold Dominant Revenue Share

Competitive Analysis by the research study found that the Global Grease market is moderately competitive with approximately 200 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in production and manufacturing for specific grade grease. The large global players even though comprise about ~15% in terms of the number of companies, hold ~40% of the market revenue share followed by regional players which account for ~30% of the market revenue. Most of the global players are having their operations in different regions worldwide.

Specialist Players within Global Grease Market Earn a Significant Chunk of their Overall Revenues from this Segment

Detailed Comparative Analysis of Key Competitors done within the research study reveals that diversified players having a variety of grease products such as Exxon Mobil, Chevron Corporation, and Castrol are highly focused on providing a full segment of grease as per the analysis done in the study on the Global Grease market. All leading global competitors are having a strong presence in the Global Grease market and offer comprehensive Grease solutions to all major industries including automotive, transportation, wind power, heavy equipment, aerospace, and any other industrial site. Furthermore, several companies and organizations are aggressively investing in R&D to cater to the demand from end-users.

  • In September 2022, Piedmont Lithium announced an investment of US$582 million to establish a lithium hydroxide processing, refining, and manufacturing facility in Southeast Tennessee.
  • In August 2022, BP to invest up to US$48 million in new global battery research and development center in Britain. The facility works on developing leading fluids technology, Castrol ON develops lubricants and greases for the growing EVs market.

Global Grease Market Demand

Covid19 Slowed Down the Growth of the Grease Market. Although the Market is estimated to Recover Soon as the Country’s Restrictions and Lockdown on Manufacturing Plants are Easing Down

Covid19 has slowed down the growth of the grease market. Implementing lockdown on economies, temporary shutdown of manufacturing plants, and reduction in vehicle traffic globally, were all those factors that reduce the use of grease in the market. According to the International Monetary Fund (IMF), a USA-based organization that promotes global economic growth and financial stability, provided in the growth projection released in April 2022, global economic growth is projected to slow from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023. Declining economic growth will directly impact the chemical, construction, automotive, and other industries.

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Increased adoption of Grease Globally leading to major industry-wide developments, acquisitions, collaborations, and deal-wins

  • In June 2021, the FUSCH group acquired Gleitmo Technik AB, Sweden to strengthen the specialty lubricating business.
  • FUSCH mentioned in its annual report for FY20-21, it expands with the new plant in Kaiserslautern, which produces custom-made polyurea greases for e-mobility and wind power. US$15.5 million was invested in the 3 German sites in Mannheim, Keil, and Kaiserslautern.

Key Topics Covered in the Report: -

  • Snapshot of Global Grease Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Grease Market
  • Historic Growth of Overall Global Grease Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of Global Grease Industry
  • Overview, Product Offerings, and Strength & Weakness of Key Competitors
  • Covid 19 Impact on the Overall Global Grease Market
  • Future Market Forecast and Growth Rates of the Total Global Grease Market and by Segments
  • Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
  • Analysis of Global Grease Market
  • Major Production/Supply and Consumption/Demand Hubs in Each Major Region
  • Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Continent

 Key Profiled Companies Mentioned in the Report: -

  • Castrol
  • Royal Dutch
  • Exxon Mobil
  • Eni
  • Chevron Corporation
  • FUCHS PETROLUB SE
  • Sinopec Corporation
  • Total Energy
  • ENEOS Corporation
  • Phillips 66
  • CITGO
  • Indian Oil Corporation Ltd.

Notable Emerging Companies Mentioned in the Report

  • Inzin
  • GreaseBoss
  • Bansal Oil and Lubricants Co.
  • Henan Dongsen Lubrication Technology Co., Ltd.
  • Ganga Sagar Trading Co.
  • Continental Oils & Lubricants FZE

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Grease Manufacturing Companies
  • Grease Distributors
  • Grease Traders
  • Grease Material Supplier Companies
  • Potential Investors in Grease Companies
  • Lubrication Association
  • Grease Association
  • Oil and Lubrication Sector
  • Lubrication Manufacturing Companies
  • Research & Development Institutes
  • Government Investors
  • Consulting companies in the lubrication sector
  • Grease component providers
  • Non-Soap and Metallic Soap component manufacturers
  • Government and research organizations
  • Investment banks
  • Investors and financial community professionals
  • Investment Funds

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022-2028F

For More Information on The Research Report, Refer to Below Link: -

Global Grease Market Future Outlook

Related Report by Ken Research: -

Indonesia Industrial Lubricants Market Outlook to 2023 - By Industrial Lubricants (Hydraulic Oils, Industrial Greases, Metal Working Fluids, Industrial Gear Oils, Turbine Oils, Compressor Oils, and Others), By End Uses (Construction and Mining, General Manufacturing, Power Generation, Metal Production, Food Processing, Cement and Others), By Distribution Channel (Direct Sales and Dealer Network)

Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com

+91-9015378249