Global Grease Market - Segmented by Base Oils, Thickeners, Additives, End-user Industry, and Geography - Trends and Forecasts (2017 - 2022)
The global grease market by volume was USD XX billion in 2015 and is projected to reach USD XX billion by 2020, witnessing a CAGR of XX% for the forecast period.
Grease is a semi-solid lubricant, which can be segmented as industrial and automotive greases. It is a mixture of a fluid-lubricant (usually petroleum oil) and a thickener (soap) dispersed in the oil. The base oil or lubricant (petroleum oil) can be changed later on by using the pre-used lubricant. Other than the base oil, thickener also plays an important role in the mixture. Soap thickeners are the product of a reaction between metallic hydroxide or an alkali with a fat/fatty acid or ester. The three type of soaps used in this production are calcium soap, aluminum soap and sodium soap. Sodium soaps are stable at high temperatures and lithium are stable to both heat and moisture.
Grease, owing to its water-resistant property, is used in various applications and is extremely important for machines. Ability to remain in contact with the moving surface and lubricating it without leaking out under gravity, centrifugal action or even be squeezed out under pressure, is the primary feature of grease. Grease can retain its properties under shear at all temperatures that would be subjected to during its use. Greases seal out contaminants, suspend solid additives easily, reduce noise, and are suitable for intermittent operations. Greased machinery tends to consume less power and is even less subjected to any wear tear damage. Global Grease market owing to its aforementioned properties is used in numerous commercial and manufacturing industries namely, mining, pharmaceutical, auto manufacturing, construction, railways, wind turbines, food and beverage, and others.
The global grease market, on the basis of base oils has been segmented into Group I (Solvent Refined), Group II (Hydrotreated), Group III (Hydrocracked), Group IV (Polyalphaolefins (PAOs)), Group V, and Others. The market has also been segmented on the basis of thickeners into metal soaps, and other thickeners. These thickeners are further sub-segmented into lithium soap, calcium soap, aluminum soap, sodium soap, organo clay, polyuria, and other metallic soaps. In addition, the global grease market has also been segmented on the basis of additives into to enhance desirable properties, to suppress undesirable properties, and to add new properties.
Additionally, the market has also segmented geographically into Asia Pacific, North America, Europe, South America, and Middle-East and Africa. In 2014, China and India together, with a share of more than 47%, led the production market and are expected to lead the market during the forecast period too.
Furthermore, need for bio-greases in environmentally-sensitive countries and the introduction of more high-performance products, can be seen as an opportunity for the grease market. With the current progress in automobile industry, which accounts for more than 35% for the total grease usage, the demand for grease is expected to be stable and would be proportional to the increase in automobile and other necessary sectors. Some of the major grease producing companies are Shell, Exxon Mobil, Castrol, and Dow Corning Ltd.
Key Deliverables in the Study
Market analysis for the Global Grease Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Grease market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped