About Grease
Grease is a thick and oily lubricant consisting of inedible lard, the rendered fat of waste animal parts or a petroleum derived or synthetic oil containing agent. Grease has the high initial viscosity. Grease has properties such as water resistance, lubrication to the moving surface under gravity, pressure, or centrifugal action. It also helps to prevent contamination, any wear tear loss and reduces noise and power consumption. Increasing product application scope in industries such as wind turbines will drive the market in coming years.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Grease market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Grease Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Grease market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Royal Dutch Shell plc. (Netherlands), Exxon Mobil Corporation (United States), Harrison Manufacturing Co. PTY Ltd (Australia), Sinopec Limited (China), Total S.A. (France), IKV lubricants (Germany), Chemtool Incorporated (United States), Axel Americas LLC (United States), Chevron Corporation (United States) and Fuchs Petrolub AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Bel-Ray Company (United States), Citgo Petroleum Corporation (United States), Balmer Lawrie & Co. Ltd. (India) and Lubri-Lab Inc. (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Grease market by , Application (Automotive, Construction and Off-Highways, General Manufacturing, Steel, Mining and Others) and Region.
On the basis of geography, the market of Grease has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Thickener, the sub-segment i.e. Metallic Thickener {Lithium, Calcium, Aluminum, Sodium and Other} will boost the Grease market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Base Oil, the sub-segment i.e. Mineral Oil will boost the Grease market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Trend of Bio-Based Grease Use
Market Growth Drivers:
Growth in Automotive Industry, Widely Used In Several Type of Application and Water Resistant Property
Challenges:
Weak Demand in Europe and North America and Strict Environmental Regulations
Restraints:
High Cost of the Synthetic Greases and Fluctuations in the Raw Material
Opportunities:
Growing Usage of High Performance Greases and Increasing Applications in Various Industries
Market Leaders and their expansionary development strategies
In March 2018, AXEL Christiernsson acquired Royal Mfg. Co, LP. The business will now be carried forward as AXEL Royal LLC, a subsidiary of AXEL Americas LLC, building on the heritage of Royal Mfg. Co, LP as a well-established supplier of lubricating greases and lubes in the US market and abroad.
In February 2024, Chevron announced a new grease product called Rykon, formulated for extreme-pressure and heavy-duty applications. Rykon rounds out Chevron’s portfolio with a high-performance calcium sulfonate complex grease.
Key Target Audience
Grease Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.