Global Grease market revenue to reach US$ 7 Bn by 2028: Ken Research
Global Grease Market By Geography
The Global Grease market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
The Asia Pacific accounted for the largest market share within the global grease market, accounting major chunk of total market revenue in 2022 as it houses most of the lubricating companies.
According to the Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce. Mentioned that an investment of US$107 billion is forecasted in the Indian chemicals and petrochemicals sector by 2025, the demand for chemicals is expected to widen by 9% per annum by 2025.
Europe is expected to be the 2nd fastest growing region during the forecasted period because of the rising demand for electric vehicles.
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Competition Scenario In Global Grease Market
The Global Grease market is highly competitive with approximately 200 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in Grease production to multiple end-user industries. Most of the country-niche players are dealing in the production and manufacturing of lubrication.
Large global players control about 40% of the market, while regional players hold the second largest share. Some of the major players in the market include Castrol India, Royal Dutch, Exxon Mobil, Eni, Chevron Corporation, FUCHS Petrolub, Sinopec Corporation, Total Energy, ENEOS Corporation, Phillips 66, CITGO, Indian Oil Corporation Ltd., and others.
The leading global specialist companies such as Exxon Mobil, Chevron Corporation, and Castrol are highly focused on providing a full segment of grease for multiple solutions and multiple end users.
What Is The Expected Future Outlook For The Overall Global Grease Market Across The Globe?
The Global Grease market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Grease market is driven by increased automation in multiple industries and rising demand from the automotive sector. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing acquisitions and emergence of new products, the Global Grease market is changing rapidly. For instance, In February 2022, RelaDyne acquired The Farley Company, a distributor of an extensive line of lubrication and chemical products. This acquisition will expand RelaDyne’s distribution capabilities in the northern Ohio area, Columbus, and Akron markets.
Furthermore, In June 2021, Castrol India announced the launch of Castrol On, a range of advanced e-fluids for improved electric vehicle performance. Castrol On advanced grease EV fluids protects the component in EV’s motor for higher efficiency and long-lasting.
FUSCH announced in its Annual Report for FY21, New plant in Kaiserslautern, Germany will produce custom-made polyurea greases for e-mobility and wind power. US$15.5 million was invested in the 3 German sites in Mannheim, Keil, and Kaiserslautern.
The Global Grease Market witnessed significant growth during the period 2017-2021, primarily driven by growing demand from the automotive industry, and rising end-user industries. Although the growth rate is expected to remain neutral in the forecasted period, the use of Grease is anticipated to remain strong as multiple industries required lubrication in machinery.
Though the market is highly competitive with approximately 200 participants, few global players control the dominant share and regional players also hold a significant share.
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Key Topics Covered in the Report
- Snapshot of Global Grease Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Grease Market
- Historic Growth of Overall Global Grease Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Grease Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid 19 Impact on the Overall Global Grease Market
- Future Market Forecast and Growth Rates of the Total Global Grease Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Grease Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Key Profiled Companies Mentioned in the Report
- Castrol
- Royal Dutch
- Exxon Mobil
- Eni
- Chevron Corporation
- FUCHS PETROLUB SE
- Sinopec Corporation
- Total Energy
- ENEOS Corporation
- Phillips 66
- CITGO
- Indian Oil Corporation Ltd.
Notable Emerging Companies Mentioned in the Report
- Inzin
- GreaseBoss
- Bansal Oil and Lubricants Co.
- Henan Dongsen Lubrication Technology Co., Ltd.
- Ganga Sagar Trading Co.
- Continental Oils & Lubricants FZE
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Grease Manufacturing Companies
- Grease Distributors
- Grease Traders
- Grease Material Supplier Companies
- Potential Investors in Grease Companies
- Lubrication Association
- Grease Association
- Oil and Lubrication Sector
- Lubrication Manufacturing Companies
- Research & Development Institutes
- Government Investors
- Consulting companies in the lubrication sector
- Grease component providers
- Non-Soap and Metallic Soap component manufacturers
- Government and research organizations
- Investment banks
- Investors and financial community professionals
- Investment Funds
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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