What is Industrial Greases?
Industrial Greases are used to reduce friction and has a primary function to displace solid rough surfaces from the liquid film. These greases help in modifying the surface property, control temperature and many other things of any material. The major feature which is driving these industrial greases is that they ensure the smooth working of any industrial machinery. Growing High demand from the automotive sector is the key factor which is fueling the growth of the global industrial greases.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
CAGR | 5.4% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Vendors from United States will contribute to the maximum growth of Global Industrial Greases market throughout the predicted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ExxonMobil Corporation (United States), Royal Dutch Shell Plc. (The Netherlands), Castrol (United Kingdom), Dow Chemical Company (United States), Chevron (United States), Total S.A. (France), Fuchs Petrolub AG (Germany), Sinopec Limited (China), AXEL Christiernsson (Sweden) and Texaco (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Belray (New York) and BP p.l.c. (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Greases market by Type (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil and Bio-Based), Application (Automotive, Mining, Construction, Heavy Industries and Others) and Region.
On the basis of geography, the market of Industrial Greases 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).
Market Leaders and their expansionary development strategies
On 7 December 2021, ExxonMobil Chemical Company has acquired California-based Materia, Inc., a technology company that has pioneered the development of a Nobel prize-winning technology for manufacturing a new class of materials. The innovative materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings.
Market Drivers
- Increasing Automation in Various End-Use Industries
- Demand From Industries for Improved Quality of Industrial Lubricants
Opportunities
- Increasing Growth of Industries in Asia-Pacific and the Middle East
Restraints
- High Cost of Synthetic and Bio-Based greasers
- Stringent Environmental Regulations
Challenges
- Concern Related To the Reduction in Use of Metal Parts by Automakers
- Issue Towards The Environmental Temperature for These Greaser
Key Target Audience
Potential Investors, Government Bodies and Associations, Up and Down Stream Vendors, Private Research Organizations, Suppliers and Distributors 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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.