The market is projected to grow because of the evolving lifestyle across globe. The increasing emphasis on equipment reliability, efficiency, and longevity is leading industries to invest in high-quality lubricants like grease to minimize downtime and maintenance costs. Furthermore, stringent regulations and standards regarding equipment maintenance and environmental protection are pushing industries to adopt greases that offer superior performance and environmental sustainability. Lastly, advancements in grease formulations and technologies, such as synthetic and bio-based greases, are also driving market growth by offering enhanced performance characteristics and meeting the evolving needs of various applications. Collectively, these factors are contributing to the robust demand for grease in the global market.
Browse in-depth TOC on “Grease Market”
150 – Tables
100 – Figures
250 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88373349
“Synthetic oil segment is projected to register the highest CAGR, in terms of value, of the global grease market during the forecast period.”
Synthetic greases are gaining popularity due to their superior performance characteristics compared to conventional mineral oil-based greases. Synthetic oils offer advantages such as higher viscosity index, better resistance to oxidation and thermal degradation, wider temperature operating range, and improved lubrication properties. Industries such as automotive, aerospace, and manufacturing are increasingly turning to synthetic greases to meet the demanding requirements of modern machinery and equipment.
“Non-soap thickener is estimated to be the second-largest thickener type of grease market, in terms of value, during the forecast period.”
In the grease market, non-thickener additives represent a significant and growing segment, often considered as the second largest after metallic soap thickeners. These additives play a crucial role in enhancing the performance and functionality of grease formulations. Non-thickener additives include a wide range of components such as antioxidants, anti-wear agents, corrosion inhibitors, friction modifiers, and viscosity index improvers.
“Construction is estimated to be the second-largest end-use industry of grease market, in terms of value, during the forecast period.”
Construction indeed ranks among the top end-users for grease, often considered as one of the significant contributors to the demand for lubricants in various forms. Grease plays a pivotal role in the construction industry, where heavy machinery and equipment are subjected to rigorous and demanding operating conditions. In construction applications, grease is utilized to lubricate critical components such as excavators, bulldozers, cranes, loaders, and dump trucks. These machines operate in harsh environments characterized by high loads, extreme temperatures, dust, dirt, and moisture, making effective lubrication essential for their performance, reliability, and longevity.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=88373349
“Asia Pacific is estimated to be the largest market for the greases market, in terms of value, during the forecast period.”
Asia Pacific region is experiencing a high demand for automotive products which is driven by various factors. Asia’s growing middle class and rising disposable incomes have led to increased vehicle ownership, driving the automotive grease market. The presence of numerous manufacturing hubs and the continuous expansion of industries such as construction, mining, and transportation also play a crucial role. As a result, Asia’s diverse and dynamic market landscape makes it the largest and one of the most vital regions for the global grease industry.
The key players profiled in the report include ExxonMobil Corporation (US), TotalEnergies SE (France), Shell Plc. (UK), Chevron Corporation (US), BP p.l.c. (UK) Fuchs Petrolub SE (Germany), Valvoline Inc. (US), China Petroleum & Chemical Corporation (China) among others.
Browse Adjacent Market: Bulk Chemicals and Inorganics Market Research Reports & Consulting
Related Reports:
Lubricants Market – GLOBAL FORECAST TO 2029
Industrial Lubricants Market – GLOBAL FORECAST TO 2029
Small-Scale LNG Companies – Market Leaders
Lubricants Companies – Market Leaders
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/grease-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/grease.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets
