HOME Top Market Reports Grease Market by Type (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener, and Others), and by End-use Industry (automotive, construction & off-highways, general manufacturing, steel, mining, and other) - Global Forecasts to 2021

Grease Market by Type (Metallic Soap Thickener, Non-Soap Thickener, Inorganic Thickener, and Others), and by End-use Industry (automotive, construction & off-highways, general manufacturing, steel, mining, and other) - Global Forecasts to 2021

By: marketsandmarkets.com
Publishing Date: May 2016
Report Code: CH 4269

 

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The market size of grease is estimated to have been USD 2.04 Billion in 2015, and is projected to reach USD 2.28 Billion by 2021 at a CAGR of 2.0% between 2016and 2021. In this report, 2015 is considered as the base year and forecast period is 2016–2021. The global grease market has been segmented on the basis of type, end-use industry, and region. Metallic soap thickener is projected to play a key role in fueling the growth of the overall market owing to its unique properties, making it suitable for use in various automotive, construction & off-highways, general manufacturing, steel, mining, and other end-use industries. Metallic soap thickener is the most extensively used grease owing to global demand for high performance and mechanical stable grease for mechanical tools and equipment. Some of the major applications include wheel bearing, auto gears, wind turbine, electric motors, battery terminals, and hydraulic machines.

In this report, market sizes have been derived using both bottom-up and top-down approaches. First, the market size for each type (metallic soap thickener, non-soap thickener, inorganic thickener, and others) for various regions (Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America) and countries have been identified using secondary and primary research. The overall market size for various regions and countries has been calculated by adding these individual markets. Regional-level grease market sizes have been further derived on the basis of end-use industry using percentage split gathered during the research. For future growth (CAGR), trends of the grease market and end-use industries – automotive, construction & off-highways, general manufacturing, steel, mining, and other – have been analyzed. Findings of this study have been verified through primary research by conducting extensive interviews of key officials such as CEOs, VPs, directors, and executives.  The breakdown of profiles of primaries is depicted in the figure below:

Grease Market

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  As the grease industry is vertically integrated, the raw material suppliers themselves are the manufacturers. The major grease manufacturers include Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (U.S.), Sinopec Limited (China), Total S.A. (France), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), and others.

The target audiences for the grease market report are as follows:

  • Grease manufacturers
  • Grease suppliers
  • Grease formulators
  • Raw material suppliers
  • Service providers
  • End users, such as automotive, construction & off-highways, general manufacturing, steel, mining, and others

Scope of the Report:

This report categorizes the global grease market on the basis of type, end-use industry, and region.

Market Segmentation, by Type:

The market has been segmented on the basis of metallic soap thickener, non-soap thickener, inorganic thickener, and others.

Market Segmentation, by End-Use Industry:

The market has been segmented on the basis of end-use industry as automotive, construction & off-highways, general manufacturing, steel, mining, and other.

Market Segmentation, by Region:

The regional analysis covers Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options (not limited to) are available for the report:

Regional Analysis

  • Further breakdown of a region with respect to a particular country, additional end-use industry, and/or type

Country Information

  • Additional country information (up to three)

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Table of Content

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
           2.4.1 Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 38)
    4.1 Significant Opportunities for Grease Market (2016-2021)
    4.2 Grease Market Growth, By Region (2016-2021)
    4.3 Grease Market Share in Asia-Pacific
    4.4 Grease Market Attractiveness
    4.5 Grease Market Size, By End Use Industries, 2015
    4.6 Grease Market Size: Developed vs Developing Nations
    4.7 Lifecycle Analysis, By Region

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Rapidly Developing Industrial Sector in Emerging Economies
                    5.3.1.2 Growing Automotive Industry
                    5.3.1.3 Improved Quality of Industrial Grease
           5.3.2 Restraints
                    5.3.2.1 Stringent Environmental Regulations
                    5.3.2.2 Unstable Economic Situation
                    5.3.2.3 Low-Quality and Cheaper Product Offerings
           5.3.3 Opportunities
                    5.3.3.1 Technological Advancements Leading to Introduction of Efficient Grease
                    5.3.3.2 Increasing Applications of Grease
                    5.3.3.3 Rising Trend Towards the Usage of Bio-Based Grease
    5.4 Revenue Pocket Matrix
           5.4.1 Revenue Pocket Matrix for Thickener Types
           5.4.2 Revenue Pocket Matrix for End-Use Industries

6 Industry Trends (Page No. - 53)
    6.1 Value Chain Analysis
           6.1.1 Raw Material
           6.1.2 Blending
           6.1.3 Distribution
           6.1.4 End User
    6.2 Porter’s Five Forces Analysis
           6.2.1 Threat of New Entrants
           6.2.2 Threat of Substitutes
           6.2.3 Bargaining Power of Suppliers
           6.2.4 Bargaining Power of Buyers
           6.2.5 Intensity of Competitive Rivalry
    6.3 Economic Indicators
           6.3.1 Industry Outlook
                    6.3.1.1 Automotive
                    6.3.1.2 Construction
                    6.3.1.3 Manufacturing
                    6.3.1.4 Mining
           6.3.2 Country Outlook
                    6.3.2.1 Australia
                    6.3.2.2 Brazil
                    6.3.2.3 Canada
                    6.3.2.4 Chile
                    6.3.2.5 China
                    6.3.2.6 France
                    6.3.2.7 Germany
                    6.3.2.8 India
                    6.3.2.9 Iran
                    6.3.2.10 Italy
                    6.3.2.11 Japan
                    6.3.2.12 Mexico
                    6.3.2.13 New Zealand
                    6.3.2.14 Russia
                    6.3.2.15 Saudi Arabia
                    6.3.2.16 South Africa
                    6.3.2.17 South Korea
                    6.3.2.18 Thailand
                    6.3.2.19 U.K.
                    6.3.2.20 U.S.

7 Grease Market, By Thickener Type (Page No. - 75)
    7.1 Introduction
    7.2 Market Size and Projection
    7.3 Types of Thickener
           7.3.1 Metallic Soap Thickener
                    7.3.1.1 Lithium
                    7.3.1.2 Calcium
                    7.3.1.3 Aluminum
                    7.3.1.4 Sodium
                    7.3.1.5 Other Metallic Soap
           7.3.2 Non-Soap Thickener
                    7.3.2.1 Polyurea
           7.3.3 Inorganic Thickener
                    7.3.3.1 Clay
                    7.3.3.2 Silica
           7.3.4 Others

8 Grease Market, By End-Use Industry (Page No. - 84)
    8.1 Introduction
    8.2 Automotive
    8.3 Construction & Off-Highways
    8.4 General Manufacturing
    8.5 Steel
    8.6 Mining
    8.7 Others

9 Grease Market, By Region (Page No. - 90)
    9.1 Introduction
    9.2 Asia-Pacific
           9.2.1 China
           9.2.2 Japan
           9.2.3 India
           9.2.4 South Korea
           9.2.5 Australia & New Zealand
           9.2.6 Thailand
           9.2.7 Rest of Asia-Pacific
    9.3 North America
           9.3.1 U.S.
           9.3.2 Canada
           9.3.3 Mexico
    9.4 Europe
           9.4.1 Russia
           9.4.2 Germany
           9.4.3 U.K.
           9.4.4 France
           9.4.5 Rest of Europe
    9.5 Middle East & Africa
           9.5.1 Iran
           9.5.2 Saudi Arabia
           9.5.3 Egypt
           9.5.4 Rest of Middle East & Africa
    9.6 Latin America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Chile
           9.6.4 Rest of Latin America

10 Competitive Landscape (Page No. - 137)
     10.1 Overview
     10.2 Competitive Benchmarking
     10.3 Market Share Analysis
     10.4 Competitive Situations and Trends
             10.4.1 Expansions
             10.4.2 Collaborations
             10.4.3 Acquisitions
             10.4.4 Agreements
             10.4.5 New Product Launches

11 Company Profiles (Page No. - 146)
     11.1 Regional Revenue Mix of Major Market Players
     11.2 Royal Dutch Shell PLC
     11.3 Chevron Corporation
     11.4 Idemitsu Kosan Co., Ltd.
     11.5 Sinopec Corporation
     11.6 Total S.A.
     11.7 Fuchs Petrolub SE
     11.8 Exxonmobil Corporation
     11.9 Petroliam Nasional Berhad (Petronas)
     11.10 BP PLC
     11.11 The DOW Chemical Company
     11.12 JX Nippon Oil & Energy Corporation
     11.13 Other Market Players
             11.13.1 Axel Americas LLC
             11.13.2 Balmer Lawrie & Co. Ltd.
             11.13.3 Bel-Ray Company, LLC
             11.13.4 Chemtool Incorporated
             11.13.5 Citgo Petroleum Corporation
             11.13.6 Harrison Manufacturing Co. PTY Ltd.
             11.13.7 Hexol International Ltd.
             11.13.8 Indian Oil Corporation Ltd.
             11.13.9 Lubri-Lab Inc.
             11.13.10 Lubrita.Com
             11.13.11 Lukeoil
             11.13.12 Marathon Petroleum Corporation
             11.13.13 Penrite Oil Company
             11.13.14 Phillips 66 Lubricants

12 Appendix (Page No. - 180)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Introducing RT: Real Time Market Intelligence
     12.4 Available Customizations
     12.5 Related Reports


List of Tables (110 Tables)

Table 1 Vehicles in Use, By Region and Country, 2010-2014
Table 2 Australia: Economic Outlook
Table 3 Brazil: Economic Outlook
Table 4 Canada: Economic Outlook
Table 5 Chile: Economic Outlook
Table 6 China: Economic Outlook
Table 7 France: Economic Outlook
Table 8 Germany: Economic Outlook
Table 9 India: Economic Outlook
Table 10 Iran: Economic Outlook
Table 11 Italy: Economic Outlook
Table 12 Japan: Economic Outlook
Table 13 Mexico: Economic Outlook
Table 14 New Zealand: Economic Outlook
Table 15 Russia: Economic Outlook
Table 16 Saudi Arabia: Economic Outlook
Table 17 South Africa: Economic Outlook
Table 18 South Korea: Economic Outlook
Table 19 Thailand: Economic Outlook
Table 20 U.K.: Economic Outlook
Table 21 U.S.: Economic Outlook
Table 22 Grease Market Size, By Thickener Type, 2014–2021 (Kiloton)
Table 23 Grease Market Size, By Thickener Type, 2014–2021 (USD Million)
Table 24 Grease Market: Breakdown of End-Use Industry
Table 25 Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 26 Grease Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 27 Grease Market Size, By Region, 2014–2021 (Kiloton)
Table 28 Grease Market Size, By Region, 2014–2021 (USD Million)
Table 29 Asia-Pacific: Grease Market Size, By Country, 2014–2021 (Kiloton)
Table 30 Asia-Pacific: Market Size, By Country, 2014–2021 (USD Million)
Table 31 Asia-Pacific: Market Size, By Type, 2014–2021 (Kiloton)
Table 32 Asia-Pacific: Market Size, By Type, 2014–2021 (USD Million)
Table 33 Asia-Pacific: Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 34 Asia-Pacific: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 35 China: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 36 China: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 37 Japan: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 38 Japan: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 39 India: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 40 India: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 41 South Korea: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 42 South Korea: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 43 Australia & New Zealand: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 44 Australia & New Zealand: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 45 Thailand: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 46 Thailand: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 47 Rest of Asia-Pacific: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 48 Rest of Asia-Pacific: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 49 North America: Grease Market Size, By Country, 2014–2021 (Kiloton)
Table 50 North America: Market Size, By Country, 2014–2021 (USD Million)
Table 51 North America: Market Size, By Type, 2014–2021 (Kiloton)
Table 52 North America: Grease Market Size, By Type, 2014–2021 (USD Million)
Table 53 North America: Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 54 North America: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 55 U.S.: Grease Market Size, By End-Use Industry, 2014-2021 (Kiloton)
Table 56 U.S.: Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 57 Canada: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 58 Canada: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 59 Mexico: Grease Market Size, By End-Use Industry, 2014-2021 (Kiloton)
Table 60 Mexico: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 61 Europe: Grease Market Size, By Country, 2014–2021 (Kiloton)
Table 62 Europe: Market Size, By Country, 2014–2021 (USD Million)
Table 63 Europe: Market Size, By Type, 2014–2021 (Kiloton)
Table 64 Europe: Market Size, By Type, 2014–2021 (USD Million)
Table 65 Europe: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 66 Europe: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 67 Russia: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 68 Russia: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 69 Germany: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 70 Germany: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 71 U.K.: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 72 U.K.: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 73 France: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 74 France: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 75 Rest of Europe: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 76 Rest of Europe: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 77 Middle East & Africa: Grease Market Size, By Country, 2014–2021 (Kiloton)
Table 78 Middle East & Africa: Market Size, By Country, 2014–2021 (USD Million)
Table 79 Middle East & Africa: Market Size, By Type, 2014–2021 (Kiloton)
Table 80 Middle East & Africa: Grease Market Size, By Type, 2014–2021 (USD Million)
Table 81 Middle East & Africa: Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 82 Middle East & Africa: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 83 Iran: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 84 Iran: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 85 Saudi Arabia: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 86 Saudi Arabia: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 87 Egypt: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 88 Egypt: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 89 Rest of Middle East & Africa: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 90 Rest of Middle East & Africa: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 91 Latin America: Grease Market Size, By Country, 2014–2021 (Kiloton)
Table 92 Latin America: Market Size, By Country, 2014–2021 (USD Million)
Table 93 Latin America: Market Size, By Type, 2014–2021 (Kiloton)
Table 94 Latin America: Grease Market Size, By Type, 2014–2021 (USD Million)
Table 95 Latin America: Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 96 Latin America: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 97 Brazil: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 98 Brazil: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 99 Argentina: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 100 Argentina: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 101 Chile: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 102 Chile: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 103 Rest of Latin America: Grease Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 104 Rest of Latin America: Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 105 Brand Influence on the Grease Market
Table 106 Expansions, 2011–2016
Table 107 Collaborations, 2011–2016
Table 108 Acquisitions, 2011–2016
Table 109 Agreements, 2011–2016
Table 110 New Product Launches, 2011–2016


List of Figures (49 Figures)

Figure 1 Grease Market: Research Design
Figure 2 Grease Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Grease Market: Data Triangulation
Figure 5 Metallic Soap Thickener to Dominate the Grease Market Between 2016 and 2021
Figure 6 Automotive Segment to Register Highest CAGR Between 2016 and 2021
Figure 7 Asia-Pacific to Witness Fastest-Growth Rate During Projected Period
Figure 8 Asia-Pacific Estimated to Be Largest Grease Market Between 2016 and 2021
Figure 9 Grease Market to Witness Moderate Growth Between 2016 and 2021
Figure 10 Asia-Pacific to Grow at Highest Rate Between 2016 and 2021
Figure 11 China Accounted for Largest Grease Market Share in Asia-Pacific, 2015
Figure 12 Asia-Pacific to Be Fastest-Growing Market for Grease Between 2016 and 2021
Figure 13 Automotive Accounted for Largest Grease Market Share, in 2015
Figure 14 China and India to Emerge as Lucrative Markets Between 2016 and 2021
Figure 15 Asia-Pacific Grease Market Projected to Register High Growth During Forecast Period
Figure 16 Grease Market, By Region
Figure 17 Overview of the Forces Governing the Grease Market
Figure 18 Revenue Pocket Matrix: Thickener Type
Figure 19 Revenue Pocket Matrix: End-Use Industry
Figure 20 Raw Materials Account for Major Value Addition
Figure 21 Porter’s Five Forces Analysis
Figure 22 Vehicles in Use, By Region, 2014
Figure 23 Construction Industry Growth Rate, 2014
Figure 24 Manufacturing Industry Growth Rate, 2015
Figure 25 Metallic Soap Thickener Segment to Witness Significant Growth Rate
Figure 26 Lithium to Dominate the Metallic Soap Thickener Market Till 2021
Figure 27 Properties of Metallic Soap Thickeners
Figure 28 Asia-Pacific to Register the Highest Growth Rate for Metallic Soap Thickeners Between 2016 and 2021
Figure 29 Automotive Segment to Witness Highest Growth During the Projected Period
Figure 30 Regional Snapshot (2016–2021): China, India, Thailand, and Brazil are Emerging as Strategic Locations
Figure 31 India to Be the Fastest-Growing Grease Market Between 2016 and 2021
Figure 32 Asia-Pacific Market Snapshot: Automotive Industry to Dominate the Grease Market
Figure 33 North American Market Snapshot: U.S. to Register High Growth During Forecast Period
Figure 34 Grease Market in Europe Snapshot: Russia to Dominate the Market During Forecast Period
Figure 35 Grease Market in Middle East & Africa Snapshot: Saudi Arabia to Register High Growth During Forecast Period
Figure 36 Brazil to Dominate the Grease Market in Latin America Between 2016 and 2021
Figure 37 Companies Adopted Expansions as the Key Growth Strategy Between 2011 and 2016
Figure 38 Grease Market Share, By Company, 2015
Figure 39 Royal Dutch Shell PLC: Company Snapshot
Figure 40 Chevron Corporation: Company Snapshot
Figure 41 Idemitsu Kosan Co., Ltd: Company Snapshot
Figure 42 Sinopec Corporation: Company Snapshot
Figure 43 Total S.A.: Company Snapshot
Figure 44 Fuchs Petrolub SE : Company Snapshot
Figure 45 Exxonmobil Corporation: Company Snapshot
Figure 46 Petroliam Nasional Berhad (Petronas): Company Snapshot
Figure 47 BP PLC: Company Snapshot
Figure 48 The DOW Chemical Company: Company Snapshot
Figure 49 JX Nippon Oil & Energy Corporation: Company Snapshot

The global grease market is projected to reach USD 2.28 Billion by 2021, registering a CAGR of 2.0% between 2016 and 2021. The growth of the market is primarily driven by the automotive industry. Automobile uses grease in various parts, such as wheel bearings, ball and steering joints, universal joints, chassis, suspensions, gears, switches, and connectors.

The automotive industry dominated the grease market in 2015; however, it is projected to register the highest growth rate in the overall market between 2016 and 2021. The increased need for high-quality grease for processing automotive equipment and the use of advanced technologies boost the market.

The grease market is classified on the basis of type as metallic soap thickener, non-soap thickener, inorganic thickener, and others. The market is dominated by metallic soap thickener owing to global demand for multifunctional grease. Some of the related thickener soaps of metallic soap thickener are lithium, calcium, sodium, and aluminum. Metallic soap thickener is estimated to register high growth during the forecast period.

The industry is highly fragmented in terms of segments to which the products are offered, which increases the market competition for small players. Moreover, the players are focusing on developing innovative products to meet the growing demand from end-use industries.

Currently, Asia-Pacific is the largest and fastest-growing market for the grease market. The growing automotive and the manufacturing industry in the region are expected to drive the increasing demand for grease. On the other hand, Middle East & Africa is projected to be the second fastest-growing region between 2016 and 2021. This high growth is attributed to the growing industrial sector in the region

Grease Market

The major factor restraining growth of the grease market is unstable economic situation. The 2008 global economic turmoil has virtually hit almost all the sectors in developed nations of North America and Western Europe. There have been no significant investments in the key end-user sectors such as manufacturing, energy, and automotive. However, Asian countries such as, China and Japan have increased the production and utilization of grease. Some of the major players of Asia-Pacific grease market are Sinopec Corporation (China), Petronas (Malaysia), Idemitsu Kosan co ltd (Japan), and JX Nippon Oil & Energy Corporation (Japan). The players in this market need to compete with each other with respect to prices and offering wide product range to meet the market requirements. These companies are expected to develop new strategies and innovative technologies for the grease production.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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