Europe Grease Market - Segmented by Thickener, End-user Industry, and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The Europe grease market is expected to grow at a CAGR of 0.84 % during the forecast period (2018 - 2023). The major factors driving the growth of the grease market in Europe are the development of advanced greases for high-end applications and the recovering construction sector in the region.
Grease is a semi-solid lubricant. Industrial and automotive greases are its primary categories. It is a mixture of a fluid lubricant, usually petroleum oil, and a thickener, usually soap, dispersed in oil. The base oil (petroleum oil) can even be a pre-used lubricant. The thickener plays an important role in the mixture as a sponge that holds the lubricant oil. The soap thickeners are produced by the reaction between a metallic hydroxide or an alkali and a fat/fatty acid or an ester. The different types of soaps used in production are calcium soap, aluminum soap, lithium soap, and sodium soap. Sodium soaps are stable at high temperatures, while lithium ones are resistant to both heat and moisture.
Recovering Construction Sector to Fuel the Market Growth
The construction industry in Europe has been on a recovering path after witnessing a downfall in 2012-13. Turkey, Spain, and the United Kingdom are expected to witness the fastest growth rates for the consumption of greases, owing to the increasing commercial and public infrastructure investments. The growing public-private partnership infrastructure projects and the modernization of the transport infrastructure in the Eastern European countries are expected to be the driving factors for the growth of the grease market in the region.
Lithium Greases Witnessing a Stable Growth
Lithium greases are among the widely used metal greases at a global level as well as in the European region. It is estimated that they contribute to over 50% of the total greases consumed in Europe, with a majority of lithium greases finding applications in the automotive sector. However, lithium complexes are facing hurdles due to the growing environment-related regulations in the region. The newer formulations, such as Boric acid thickeners, can be used as alternatives to lithium greases, which is another restraint for the growth of the lithium greases market in Europe.
Russia leading the Demand
Russia is the largest market, in terms of demand, for greases in the European region. It occupied a market share of almost 19% in 2017. A slowdown in the growth rate has been observed in 2016 – 2017, due to the fluctuations in the economy and the decline in the automotive production in the country. However, the consumption of greases has increased in 2018 with the significant increase in the production and the sales of new motor vehicles in addition to the improving economic conditions in the country.
Key Developments in the Market
November 2017: A three-year lubricants and services agreement has been signed between Total Lubrifiants and ArcelorMittal.
May 2017: Total Lubricants and CLAAS, a major player in the agriculture machinery industry, renewed their partnership till 2021.
January 2017: BP signed an agreement with Renault Sport Racing for a new partnership to provide fuel and lubricants for the Formula-1 season.
Major Players: Axel Christiernsson, Bel-Ray Company LLC, SKF, Royal Dutch Shell PLC, Fuchs, and Total Lubricants, among others.
Reasons to Purchase this Report
To analyze the current and future of the Europe grease market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To identify the segment that is expected to dominate the market
To identify the countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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