Global Grease market revenue to reach US$ 7 Bn by 2028: Ken Research

 Global Grease Market By Geography

The Global Grease market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

The Asia Pacific accounted for the largest market share within the global grease market, accounting major chunk of total market revenue in 2022 as it houses most of the lubricating companies.

According to the Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce. Mentioned that an investment of US$107 billion is forecasted in the Indian chemicals and petrochemicals sector by 2025, the demand for chemicals is expected to widen by 9% per annum by 2025.

Europe is expected to be the 2nd fastest growing region during the forecasted period because of the rising demand for electric vehicles.

For more information, request a free sample

Competition Scenario In Global Grease Market

The Global Grease market is highly 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 Grease production to multiple end-user industries. Most of the country-niche players are dealing in the production and manufacturing of lubrication.

Large global players control about 40% of the market, while regional players hold the second largest share. Some of the major players in the market include Castrol India, Royal Dutch, Exxon Mobil, Eni, Chevron Corporation, FUCHS Petrolub, Sinopec Corporation, Total Energy, ENEOS Corporation, Phillips 66, CITGO, Indian Oil Corporation Ltd., and others.

The leading global specialist companies such as Exxon Mobil, Chevron Corporation, and Castrol are highly focused on providing a full segment of grease for multiple solutions and multiple end users.

What Is The Expected Future Outlook For The Overall Global Grease Market Across The Globe?

The Global Grease market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Grease market is driven by increased automation in multiple industries and rising demand from the automotive sector. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing acquisitions and emergence of new products, the Global Grease market is changing rapidly. For instance, In February 2022, RelaDyne acquired The Farley Company, a distributor of an extensive line of lubrication and chemical products. This acquisition will expand RelaDyne’s distribution capabilities in the northern Ohio area, Columbus, and Akron markets.

Furthermore, In June 2021, Castrol India announced the launch of Castrol On, a range of advanced e-fluids for improved electric vehicle performance. Castrol On advanced grease EV fluids protects the component in EV’s motor for higher efficiency and long-lasting.

FUSCH announced in its Annual Report for FY21, New plant in Kaiserslautern, Germany will produce 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.

The Global Grease Market witnessed significant growth during the period 2017-2021, primarily driven by growing demand from the automotive industry, and rising end-user industries. Although the growth rate is expected to remain neutral in the forecasted period, the use of Grease is anticipated to remain strong as multiple industries required lubrication in machinery.

Though the market is highly competitive with approximately 200 participants, few global players control the dominant share and regional players also hold a significant share.

Visit this Link Request for custom report

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

5 Key Insights on US$ 7 Billion Opportunity in Global Grease Market: Ken Research

 Buy Now

Driven by the Surging Automotive and Transport Industry, Rising Demand for Electric vehicles, and Increasing Use of Grease in Multiple Industries. The Global Grease is forecasted at approximately US$ 7 Bn by 2028 says Ken Research Study.

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. Grease is used in multiple industries such as automotive and transport, chemical, food processing, wind generation, heavy equipment, steel, mining, general manufacturing, and others.

According to Ken Research estimates, the Global Grease Market – which grew from approximately US$4 Billion in 2017 to approximately US$5 Billion in 2022 – is forecasted to grow further into approximately US$7 Billion opportunity by 2028. Ken Research shares 5 key insights on this high opportunity market from its latest research study.

1. Rapid Growth in Manufacturing, Automotive and Construction Sectors drives the Global Grease Market.

The Global Grease Market is expected to witness significant growth during the forecast period, due to the increasing industrial, automotive and construction sectors in the Asia Pacific region. Some of the major countries in the region include China, India, Indonesia, Thailand, and Singapore. The manufacturing, automotive, food and beverages, and construction industries are rising in the Asia Pacific region. For instance, in September 2021, the Indian government approved a PLI scheme worth US$3.53 billion for the auto industry and drone industry to boost India’s manufacturing standings. Thus, advancements in the manufacturing industry is likely to have a positive impact on the growth of the grease market.

2. Usage of Non-Soap Thickener in Automotive and Power Generation Industry is Likely to Drive the Global Grease Market.

Increasing adoption of higher efficient grease in electric vehicles, wind power, steel mill, snatch bearing, car wheel bearings, air conditioner compressor, and water pumps are some of the major driving factors for polyurea grease under the non-soap segment.

For Instance, various competitors are launching specialist electric vehicle grease to accommodate the rising demand from the market. For instance, in June 2021, Castrol Ltd., one of the leading players in lubrication industry, announced the launch of Castrol On, a range of advanced e-fluids for improved electric vehicle performance. Castrol On advanced eGrease protects the electric motor from overheating and provides higher efficiency and long-lasting lubrication.

FUSCH one of the leading players in the grease market established a new plant in Kaiserslautern, Germany which will produce 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.

3.       Strict Rules for over Production of Chemical in Plants, is Hampering the Growth of Grease Market.

United States have various regulatory bodies that supervise the chemical reporting, waste water discharge from facility, oil spills and hazardous substance releases and various others regulations. Section 313 of the Emergency Planning and Community Rights-to-know-Act (EPCRA) created the Toxic Release Inventory (TRI) program. Under the requirement of EPCRA, all U.S. facilities that meet TRI reporting criteria must submit TRI data to Environmental Protection Agency (EPA) and the relevant state government by 1^st July of each year. EPA investigates the cases of EPCRA non-compliances leads to civil penalties, including monetary fines.

4.  Mineral Oil Dominates the Market, Accounting for a Major Chunk of the Revenue share in 2021, and is Likely to Maintain Dominance During the Forecast Period

Mineral oil is extracted through moderate refining of base oil. Mineral oil is soluble with a wide range of additives, along with compatibility with various grease thickener systems, and has a lower cost, which is driving the growth of the mineral oil segment. According to Enerdata, an energy intelligence company, stated in a report that in 2021, 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.

5. Asia Pacific Accounts for the Largest Market Share and is forecasted to be the Fastest Growing Region in the Global Grease Market.

Asia Pacific is expected to be the largest and fastest-growing region among others. This is because of the large presence of lubricating companies. According to the Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce mention that an investment of US$107 billon is forecasted in the Indian chemicals and petrochemicals sector by 2025, the demand for chemicals is expected to widen by 9% per annum by 2025.

Europe is expected to be the 2nd fastest growing region during the forecasted period because of its rising demand for electric vehicles arising after the COVID-19 pandemic. RAVE, a news website with emphasis on electric vehicle and wind energy, stated that in 2021 Germany has accounted for 10.2% of total EV sales, the UK has accounted for 4.8%, France has accounted for 4.7%, Norway has accounted for 2.3%, and Italy has accounted for 2.1%. Electric vehicles required dedicated lubrication for multiple usage such as lower noise, lower heat, and others. Thus, increasing sales of electric vehicles is likely to drive the grease market.

For more information on the research report, refer to the below link:-

Global Grease Market

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

+91-9015378249