About Lubricating Grease
Lubricating Grease is a solid or semi-solid oil which consist of several emulsified soap with mineral oil and vegetable oil. The lubricating grease offers specifications such as high initial viscosity that make frictional to grease oil. It is applicable in gearboxes, for noise reduction, leakage resistant and suspension of solid additives. There has been significant rise in number of Lubricating Grease production capacity with figure stood up to 1.1 million metric ton in global in 2016, the future for Lubricating Grease looks promising. The major companies are introducing latest technology based on Lubricating Grease in Asia-Pacific and Middle East region as its demand is observed in automotive industries that consume a majority of lubricating oils. The Mining activities utilized lubricating grease in innovations and production that are expected to drive the demand for Lubricating Grease over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.1% |
Competition among existing players is due to the Lubricating 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 Lubricating 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 Lubricating 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.
Castrol (United Kingdom), Exxon Mobil (United States), Dow Corning Ltd. (United Kingdom), Chevron Corporation (United States), Lukeoil (Russia), Royal Dutch Shell PLC (The Netherlands), Sinopec Corporation (China), Balmer Lawrie & Co. Ltd (India), Petronas (Malyasia), SKF (Sweden) and Axel Christiernsson (Sweden) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Idemitsu Kosan Co., Ltd. (Japan), Citgo Petroleum Corporation (United States), Harrison Manufacturing Co. PTY Ltd (Australia) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Lubricating Grease market by Type (Mineral Oil-based Greases, Synthetic and Semisynthetic Oil-based Greases and Environment-friendly Greases), Application (Automotive, Agriculture and Off-highway Manufacturing, General Manufacturing, Steel, Mining and Others) and Region.
On the basis of geography, the market of Lubricating 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 Thickners, the sub-segment i.e. Metal Soaps will boost the Lubricating Grease market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Upsurge demand of industrial lubricants such as processed oil, greases and metal working fluids. and Rapid investments at aircraft manufacturing industries.
Market Growth Drivers:
Increase In Demand of Vehicles that Consume Less Fuel Which Significantly Contributing to Environmental Improvement. and Rise in Demand of Bio-Greases in Environmentally Sensitive Nations Fuelled Up the Market.
Challenges:
Adverse Impact Due to Poor Heat Transfer and Doesn’t Flow Like Liquid Lubricant.
Restraints:
Lubricating Grease Can’t be Recycled and Reused. and Stiff Competition among the Major Players.
Opportunities:
Introduction of Battery Operated Vehicles Expected to Boost The Lubricating Grease Market. and Rapid Technological Innovation in the Field Of Designing, Marketing and E-Commerce Leads to Propel the Market.
Market Leaders and their expansionary development strategies
In July 2023, Exxon Mobil Corporation has acquired Denbury Inc., an experienced developer of carbon capture, utilization and storage solutions and enhanced oil recovery. The acquisition expand and accelerate ExxonMobil’s low-carbon leadership across Gulf Coast value chains.
In February 2024, Chevron has launched Rykon, a new overbased calcium sulfonate complex grease for heavy-duty and extreme pressure applications.The new addition to the company’s product range is extend lubrication intervals, increase uptime and improve machine durability.
“According to Government of India, Department of Petroleum has issued an order in 1987; that the Re-refining of used lubricating oil, the purpose of giving license is to make efforts to ensure that the used lubricating oil from major suppliers in the organized sector of industry in the state is supplied to the registered units only.”
Key Target Audience
Lubricating Grease Manufacturers, Lubricating Grease Traders, End-Use Market Participants of Different Segments of Lubricating Grease, Government and Research Organizations, R&D Institutions and Others
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.