The Industrial Greases Market is expected to reach USD 1,905.9 million by 2022. It will grow at a 5.5% annual rate during the forecast period 2023-2030.

Farmington, Jan. 13, 2023 (GLOBE NEWSWIRE) — The Global Industrial Greases Market The estimated value of the property is US$ 1,905.9 Million by 2022. It will exhibit a 5.5% CAGR between 2022-2030. These industrial greases are used to lubricate machine parts so they don’t get as old as they would if used constantly. To make the base oil, thickeners, and additives are combined. To maintain the machinery that makes them, industrial greases are used. The largest market for industrial greases is in the automotive sector. These greases are used on large scales to build cars and keep them in top shape.

They are useful for many tasks and important for machinery as they don’t get soaked. Industrial greases can be used to lubricate moving parts without leaking from gravity, centrifugal force and other types of pressure.

Request Sample Copy of Report “Industrial Greases  Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.

Recent Developments

• Dec. 7, 2022, Castrol and SKF partner to provide access to industrial lubricants for circular use
  SKF has a partnership agreement in place with Castrol to increase its Recond Oil product line. Castrol is one of the top lubricant brands worldwide. Castrol’s industrial customers will now be able to benefit from the integrated RecondOil Double Separation Technology DST system.

• 22 DEC 2022: Shell acquires Allied Reliability and expands its North American Lubricants Business
  Allied Reliability, a North American supplier of industrial products and services as well as asset performance management and reliability consulting services for B2B customers, is based in North America. It works in various industries and increases the efficiency and reliability assets.

• CASTROL – The Global Leader in Lubricants and Wind Energy. JULY 20, 2020.
  Since 2000, wind energy has seen a rapid growth thanks to various governments. The increase in wind energy’s total installed capacity has led to a rise in global demand for lubricants. The global wind energy installed capacity grew at an average annual rate (16.6%) and lubricant consumption grew at an average (13%) annual rate.

Regional Outlook

North America’s position as a major industrial grease market area is expected to remain the dominant one during the forecast period. This expansion is primarily due to the growing demand from the automotive and mining sectors. This is due to the ability of industrial greases to keep their lubricating properties intact even under high temperatures. Vehicle lifespans can be extended and maintenance costs can be reduced.

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Scope of Report

Market Dynamics

Market drivers

The expansion of the market for industrial greases will likely be driven by the growing presence of Asian-Pacific industries. The world’s largest grease consumer is this region. Another factor driving demand for grease is the expansion of the ASEAN construction and industrial industries. These factors will likely fuel the growth in the market for industrial greases.

Market growth for industrial greases will be driven by the growing demand for greases that can withstand extremes of temperature and pressure. Due to the rising demand for greases in the metalworking, metallurgical and other industries, industrial greases are expected to see a boost in market growth over the forecast period. This growth is expected to be aided by the increased production of heavy machinery for advanced uses.

Market Opportunities

There are many opportunities for growth in the industrial greases market due to growing demand for food grade greases. This food-grade grease is used to lubricate all moving parts in machinery used in food processing. The introduction of food grade greases to the industrial grease market is expected to bring benefits.

The overall market expansion is expected to be driven by an increase of mechanisation, as well as an increase industrial production, in particular in Asia and Pacific. The market for industrial grease will continue to grow due to the increasing use of grease in the manufacturing industry. Grease will improve the functionality and reliability of machinery.

Market Restraints

The expansion of the industrial grease market will be hindered by strict emission laws. This is due both to growing government concerns and increased efforts to combat global climate change. This aspect is expected to be a hindrance to the growth of the industrial greases industry.

The projection period will see a limited supply of mineral oil and variable pricing for crude oil as barriers to expanding the market for industrial greases.

These are the Key Segments:

Top Market Players
Exxon Mobil Shell, Castrol Shell, Shell, Shell, Shell, Chevron and Total, among other companies.

Type

• Mineral Oil

• Synthetic Oil

• Semi-Synthetic Oil

• Bio-Based

• Other

By Application

• Automotive

• Mining

• Construction

• Heavy Industries

• Others

Regions and Countries Covered

• North America (US, Canada Mexico, Rest of North America).

• Europe: (Germany. France. Italy. Spain. UK. Nordic Countries. Benelux Union. Rest of Europe.

• Asia-Pacific: (Japan. China. India. Australia. South Korea. Rest of Asia-Pacific.

• The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

• Latin America (Brazil and Argentina, Rest of Latin America).

• Rest of the World

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