Global Grease Market is segmented by Type (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener, and Others), End-use Industry (automotive, construction & off-highways, general manufacturing, steel, mining, and other) and Region (North America, South America, Asia Pacific, Europe and Middle East & Africa) to grow at a CAGR of 2.7 %.
Rise in productivity, automotive manufacturing and manufacturing sector drives the grease market. Numerous upcoming construction projects in North America and Asia Pacific to create an opportunity for grease market. Rise in eco-friendly products and the demand for more high-performance products is foreseen as an opportunity for the global grease market. However, high prices of synthetic greases and volatile oil prices act as a restraining factor for grease market.
Automotive is the largest and fastest-growing end-use industry for grease market.
Grease is highly used in the automotive industry for wheel bearings, universal joints, suspensions, gears, and connectors. 80% of the world’s bearings are lubricated with grease. Grease allows smooth functioning of machines with excellent properties such as mechanical stability, temperature tolerance, water resistance, and anti-oxidants.
More than 90% of the thickeners used globally are soap based.
Metallic soap thickener has higher capability of maintaining excellent stability at higher temperature along with other favorable properties such as load bearing, water resistance, shear stability, and rust protection. Metallic soap thickener is suitable to be used in automotive, construction & off-highways, general manufacturing industries.
Asia Pacific is foreseen to grow at faster rate in grease market.
Asia Pacific is home to some of the largest light vehicle producers in the world with China, Japan, and Korea comprising over 37 million units of production or 42 % of the global production market. Vehicles production are growing in several ASEAN countries, with Vietnam and the Philippines leading the charge.
This report includes a study of marketing and development strategies, along with the Form portfolios of leading companies. It includes the profiles of leading manufacturers such as Castrol, Exxon Mobil, Dow Corning Ltd., Chevron Corporation, Lukeoil, Royal Dutch Shell PLC, Sinopec Corporation, Balmer Lawrie & Co. Ltd, Petronas, Idemitsu Kosan Co., Ltd., Citgo Petroleum Corporation, Harrison Manufacturing Co. PTY Ltd., China Petroleum & Chemical Corporation, DowDuPont and Shell International.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global grease market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global grease market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market of our clients and at the same time explain global grease market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Grease Market”.
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