According to IMARC Group latest report titled “Grease Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on grease market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global grease market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.

What is Grease?

Grease is a lubricant commonly used in mechanical systems to reduce friction and wear between moving parts. It is typically composed of a thickened oil or a mixture of oils and a thickener, which may be based on soap, clay, or other materials. The thickener helps to retain the oil within the grease, preventing it from flowing away from the point of application. Grease offers several advantages as a lubricant over other types of lubricants, such as oils. It also offers better resistance to water washout and provides improved sealing capabilities. It is used in various automotive, industrial, and marine applications. It is commonly applied to bearings, gears, chains, and other moving components to reduce friction and wear.

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What are the growth prospects and trends in the grease industry?

The global market is majorly driven by the increasing demand for industrial lubricants in various sectors, including automotive, aerospace, marine, and construction. In line with this, the rising need for superior lubrication performance in high-load, low-speed applications is significantly contributing to the market. Furthermore, the growing demand for synthetic and bio-based greases, seen as more environmentally friendly than traditional petroleum-based greases, is positively influencing the market. Apart from this, the trend toward using higher-quality, longer-lasting greases that can improve equipment reliability and reduce maintenance costs is creating a positive outlook for the market. Moreover, the escalating focus on energy efficiency and reducing energy consumption in manufacturing processes is stimulating product demand. Besides, the increasing need for specialized greases that can operate in extreme temperatures or harsh environments, such as offshore drilling rigs or steel mills, is strengthening the market. Additionally, the rising demand for food-grade greases in the food processing and packaging industry is providing a boost to the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • AXEL Christiernsson AB
  • Carl Bechem GmbH
  • Chemtool Incorporated (Lubrizol Corporation)
  • ENEOS Holdings Inc
  • Exxon Mobil Corporation
  • Fuchs Petrolub SE
  • Gazpromneft - Lubricants Ltd. (Gazprom Neft PJSC)
  • Harrison Manufacturing Company
  • Klüber Lubrication (Freudenberg Chemical Specialities SE & Co. KG)
  • LUKOIL
  • Petromin Corporation (Al Dabbagh Group Holding Company Limited)
  • Royal Dutch Shell PLC

Grease Market Segmentation:

Our report has categorized the market based on region, thickener type, base oil and end user.

Breakup by Thickener Type:

  • Metallic-Soap Thickener
  • Non-Soap Thickener
  • Inorganic Thickener
  • Others

Breakup by Base Oil:

  • Mineral Oil
  • Synthetic Oil
  • Bio-based Oil

Breakup by End User:

  • Automotive
  • Construction and Off-Highways
  • General Manufacturing
  • Steel
  • Mining
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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