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High Temperature Grease Market worth 26.49 Billion USD by 2021
The report "High Temperature Grease Market by Type (Soap Thickener, Non-Soap Thickener, lubricants), Application (Industrial, Automotive), and Region (APAC, EU, NA, MEA, LA) - Global Forecast to 2021", The high temperature grease market size is projected to reach USD 26.49 Billion by 2021, at a CAGR of 5.3% between 2016 and 2021.
Browse 93 market data Tables and 61 Figures spread through 157 Pages and in-depth TOC on "High Temperature Grease Market by Type (Soap Thickener, Non-Soap Thickener, lubricants), Application (Industrial, Automotive), and Region (APAC, EU, NA, MEA, LA) - Global Forecast to 2021"
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The increasing demand of automobiles in emerging economies such as China and India is fueling the growth of the high temperature grease market in the region. Another major factor contributing to the growth of the market is soaring demand for lithium complex soap thickener. The main advantage of lithium complex soap thickener based-grease over simple conventional soap thickener-based grease is their capability of maintaining excellent stability at higher temperature besides other enhanced properties such as load bearing, water resistance, rust protection, and so on.
Soap thickener to account for the major share of the high temperature grease market till 2021
The high temperature grease market is segmented by thickeners, namely, soap thickener and non-soap thickener. Soap thickener is the most preferred type of high temperature grease and holds the major market share in global high temperature grease market. Soap thickener is further segmented into lithium complex, aluminium complex, calcium sulphonate, and others. The high demand for soap thickener is primarily attributed to its improved oxidative stability, high operational temperature range, and high usage in the industrial and automotive sectors.
Rapid industrialization in the emerging regions to drive the industrial application
The industrial application is leading the high temperature grease & lubricants market. This is owed to the massive industrial growth of the key sectors such as, steel, mining, and marine industries in the Asia-Pacific region. Moreover, rapid economic growth, mainly in the steel and vehicle industries, will fuel the demand for increase in quantity and quality of greases. This in turn is expected to drive the sales of high temperature grease in the region.
Asia-Pacific to be the largest market during the forecast period
The high temperature grease market is broadly segmented into five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia-Pacific is the largest market for high temperature grease, followed by Europe. It is projected to be the fastest-growing market during the forecast period. Growing industrialization and increased trade have offered enormous opportunities for various manufacturing industries to use high temperature grease. Moreover, the increasing number of passenger and commercial vehicles in the region is fueling the growth of the high temperature grease market.
Currently, the global high temperature grease market is dominated by various market players such as Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), Sinopec Limited (China), Total S.A. (France), BP Plc. (U.K.), Chevron Corporation (U.S.), Fuchs Petrolub AG (Germany), and others.
The research study is aimed at identifying emerging trends and opportunities in the global high temperature grease market along with a detailed classification of the market, in terms of value and volume. It provides a comprehensive competitive landscape and identifies the key players in the global market. The research study also includes a detailed segmentation of the global high temperature grease market on the basis of application, thickener type, and region.
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