Grease is a semisolid lubricant which generally consists of a soap emulsified with vegetable or mineral oil. Grease are byproduct of dispersing a thickening agent in liquid lubricant. On the basis of types of thickener, type of base oil, and the additive technology used properties of grease varies. Grease are mainly used to reduce the friction between two moving surface and to minimize the level of wear and tear.
Owing to several reasons, Grease are preferred over oils such as grease can act as a sealant in order to prevent lubricant leakage and keep deteriorated seals in such cases where oil would leak out of the application.
Grease avoids corrosive contaminants and foreign material to enter, also the grease-demanding equipment is simple in design, they require less space and they weigh substantially less than a similar equipment, as a result the overall cost of equipment is reduce, both for maintenance and purchase. Owing to this distinct application and advantages of Grease its demand is increasing significantly among the several end-use industries.
A typical Grease generally consist of 75-80% base oil, 10-15% thickener, and 5-10% lubricant additives. Grease has comparatively much more service life than liquid lubrication before replenishment is required, which is a critical benefit for hazardous or hard-to-reach location.
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Grease Market: Dynamics
Automotive is the most prominent end-use industry for grease market. Increasing sales of passenger vehicles and commercial vehicles driving the demand for grease in automotive and transportation industry.
In automotive industry grease is use for several applications in various auto parts such as universal joints, automotive bearings, switches, gear, suspension, and others, owing to excellent properties of grease such as temperature tolerance, mechanical stability, anti-oxidant, and water resistant.
Grease also plays a vital role in chemical manufacturing, growth in global chemical industry has a direct impact on the grease market. Grease also has a significant quota of consumption in construction industry, especially in metal working, numerous upcoming projects in Asia Pacific region expected to boost the grease market in this region.
Increasing preference for grease over the oil lubricant in several end-use industries such as on-road and off-road automobiles, chemical, food & beverage, and other industries assisting the growth of grease market across the globe.
Grease Market: Regional Overview
Asia Pacific is expected to witness a prominent growth and account for the key share of grease market in near future. Asia pacific is estimated as a significantly growing region owing to the growing demand for grease in several end use industries, especially automotive and transportation. India, China, and Japan are the prominent countries in terms of consumption and production of grease in Asia Pacific.
In North America U.S. is expected to account for prominent share of the grease market owing to the expansion in the chemical as well as automotive industry. Europe is the significant region for grease market in terms of production and consumption of grease. The grease market of Europe is mainly driven by the expansion and significant growth in the metal working and chemical manufacturing industry.
Latin America is anticipated to witness comparatively substantial growth in grease market, due to the increasing demand for grease for specific application in vehicles, building construction, metal working and others. Grease market of Middle East and Africa is expected to grow with relatively lower rate over the forecast period.
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Grease Market: Market Participants
Some of the key players involved in the production of grease are Royal Dutch Shell PLC, Chevron Corporation, Sinopec Corporation, Fuchs Petrolub SE, Idemitsu Kosan Co., Ltd., Total S.A., Petroliam Nasional Berhad (Petronas), Exxonmobil Corporation, The DOW Chemical Company, BP PLC, JX Nippon Oil & Energy Corporation and others.
The research report presents a comprehensive assessment of the Grease market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Grease market segments such as component, type, application, end-user and region, etc.
Grease Market: Segmentation
Globally, Grease market can be segmented on the basis of thickeners, and end-use industry
Based on the thickeners, Grease market can be segmented into
- Metal Soaps
- Non-soap thickener
- Inorganic thickener
- Other Thickeners
Based on the end-use industry, Grease market can be segmented into
- Heavy equipment
- Power generation
- Automotive and transportation
- Food and Beverage
- Chemical manufacturing
- Metal working and Metallurgy
- Other end-use industry
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