Bentonite Grease Market by type (Extreme Pressure Bentonite Grease and General Bentonite Grease), Application (High Temperature Bearing, Industrial Ball, Metallurgical Casting), and Region- Global Forecast to 2030
The bentonite grease market is projected to reach USD 433.3 million by 2030, at a CAGR of 2.4% from USD 358.4 million in 2022. Bentonite Grease (extreme pressure) is an in-organic clay-based grease for plain and rolling bearings operating at temperatures higher than those at which conventional soap-based greases can be used. This grease is amber colored multipurpose grease containing anti-corrosion and extreme pressure additives and is suitable for most conditions especially at elevated temperatures. The grease performance is limited only by the properties of the base oil.
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Market Dynamics
Driver: Growing automotive industry and vehicle parc to drive the market
Over the years, the automotive industry has witnessed significant growth in vehicle production and sales. Currently, the automotive industry is witnessing a period of substantial growth in Asia Pacific and North America, among other regions, and the annual sales of vehicles have increased, significantly. Technological advancements have fueled the growth of the automotive industry in Asia Pacific and North America.
Restraints: Stringent environmental regulations to affect the market
Governments all over the world are emphasizing on the need for more stringent environmental regulations. The US EPA has regularly modified and enforced several norms for reducing vehicular emissions and improving the quality and efficiency of the fuels used. The EU (European Union) has imposed stringent rules that are to be followed by manufacturers of passenger vehicles and light-duty vehicles, under the EU light-duty vehicle CO2 regulation, by 2020.
Opportunities: Advancements in technologies can drive the growth of market
Major players in the market have access to new technologies, capital, and human expertise. With increasing investment in R&D, they are likely to come up with, efficient, and effective grease at very competitive prices. This would enhance their product portfolio, brand image, and reliability.
“Extreme pressure bentonite grease was the largest source of Bentonite Grease market in 2021, in terms of value”
Extreme pressure bentonite grease dominated the market in 2021. It good high temperature performances, a good colloid stability, and a good mechanical stability, and is especially suitable for mechanical lubrication parts working under high-temperature heavy-load high-pollution conditions. Extreme pressure bentonite grease is needed for many applications of heavy-duty construction equipment, automotive wheel bearings, mining machines, industrial machines operating under high loads, etc.
“Metallurgical Casting segment were the largest application for Bentonite Grease market in 2021, in terms of value”
Structural & design changes, increasing trend of light-weighting in passenger cars (such as increase in use of alloy wheels, lightweight engine blocks, & seat frames etc.) because of stringent emission norms, and benefits offered by casting process such as higher precision, accuracy, shorter cycle time, and excellent surface finish are expected to drive the market for metallurgical casting during the forecast period.
“Europe was the largest market for Bentonite Grease in 2021, in terms of value.”
Europe is projected to be the largest bentonite grease market during the forecast period. Increasing investment in blending plants for lubricants in Russia and the Netherlands, among other countries, is driving the market in Europe. In addition, stringent regulations on CO2 emissions from vehicles have increased the demand for fuel-efficient lubricants, thereby, driving the bentonite grease market in the transportation sector. Several national ecolabels/schemes and one international standard have been developed in the recent years, setting requirements for the ecological and technical characteristics of lubricants.
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Key Market Players
The key players in this market are Lubrizol Corporation (US), Matrix Specialty Lubricants BV (Netherlands), Phillips 66 (US), Anglomoil (Australia), Tru Blu Oil (Australia), Oracle Petroleum Corporation (Philippines), ATDM CO.LTD (Turkey), Sasol Limited (South Africa), PKN ORLEN (Poland) and AIMOL (Netherlands). Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of Bentonite Grease have opted for new product launches to sustain their market position.
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Report Metric |
Details |
|
Years considered for the study |
2017-2030 |
|
Base Year |
2021 |
|
Forecast period |
2022–2030 |
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Units considered |
Volume (Kiloton); Value (USD Million) |
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Segments |
Type, Application, and Region |
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Regions |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Companies |
Lubrizol Corporation (US), Matrix Specialty Lubricants BV (Netherlands), Phillips 66 (US), Anglomoil (Australia), Tru Blu Oil (Australia), Oracle Petroleum Corporation (Philippines), ATDM CO.LTD (Turkey), Sasol Limited (South Africa), PKN ORLEN (Poland) and AIMOL (Netherlands) |
This report categorizes the global bentonite grease market based on type, application and region.
On the basis of source, the bentonite grease market has been segmented as follows:
- Extreme Pressure Bentonite Grease
- General Bentonite Grease
- Others
On the basis of application, the bentonite grease market has been segmented as follows:
- High Temperature Bearing
- Industrial Ball
- Metallurgical Casting
- Others
On the basis of region, the bentonite grease market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Frequently Asked Questions (FAQ):
What is the expected growth rate of Bentonite Grease market?
The Bentonite Grease market is projected to reach USD 433.3 million by 2030, at a CAGR of 2.4% from USD 358.4 million in 2022.
Who are the major key players in Bentonite Grease market?
Lubrizol Corporation (US), Matrix Specialty Lubricants BV (Netherlands), Phillips 66 (US), Anglomoil (Australia), Tru Blu Oil (Australia), Oracle Petroleum Corporation (Philippines), ATDM CO.LTD (Turkey), Sasol Limited (South Africa), PKN ORLEN (Poland) and AIMOL (Netherlands).
What is the average selling price trend for Bentonite Grease market?
Prices are low in Asian countries (primarily China and India) compared to those in Europe and North America due to the low prices of raw materials and the availability of low-cost workforces in Asia Pacific. .
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Table of content
1 Introduction
1.1 Objective of the study
1.2 Market definition
1.3 Market Scope
1.3.1 Years considered for the study
1.4 Currency
1.5 Unit Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key data from secondary sources
2.3 Primary Data
2.3.1 Key data from primary sources
2.3.2 Breakdown of Primary Interviews
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Data Triangulation
2.6 Assumptions
2.7 Limitations
3 Executive Summary
4 Premium Insights
4.1 Opportunities in Bentonite Grease Market
4.2 Bentonite Grease Market, By Type
4.3 Bentonite Grease Market, By Application
4.4 Bentonite Grease Market, By Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Supply Chain Analysis
5.3.1 Raw Material Manufacturing
5.3.2 Manufacturers
5.3.3 Distribution
5.3.4 End-Use Industry
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Buyers
5.4.4 Bargaining Power of Suppliers
5.4.5 Intensity of Competitive Rivalry
5.5 Average Selling Price
5.6 Regulatory Landscape
5.7 Industry Outlook
6 Bentonite Grease Market, By Type
6.1 Introduction
6.2 Extreme Pressure Bentonite Grease
6.3 General Bentonite Grease
6.4 Others
7 Bentonite Grease Market, By Application
7.1 Introduction
7.2 High Temperature Bearing
7.3 Industrial Ball
7.4 Metallurgical Casting
7.5 Others
8 Bentonite Grease Market, By Region
8.1 Introduction
8.2 Asia Pacific
8.2.1 China
8.2.2 India
8.2.3 Japan
8.2.4 South Korea
8.2.5 Indonesia
8.2.6 Rest of Asia Pacific
8.3 North America
8.3.1 U.S.
8.3.2 Canada
8.3.3 Mexico
8.4 Europe
8.4.1 Germany
8.4.2 France
8.4.3 Italy
8.4.4 U.K.
8.4.5 Spain
8.4.6 Russia
8.4.7 Poland
8.4.8 Rest of Europe
8.5 Middle East & Africa
8.5.1 UAE
8.5.2 Saudi Arabia
8.5.3 South Africa
8.5.4 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
8.6.3 Rest of South America
9 Competitive Landscape
9.1 Introduction
9.2 Market Share Analysis
9.3 Company Evaluation Quadrant
9.4 Competitive Situation & Trends
9.4.1 New Product Launches
9.4.2 Contracts & Agreements
9.4.3 Partnerships & Collaborations
9.4.4 Joint Ventures
9.4.5 Expansions
10 Company Profile
10.1 The Lubrizol Corporation
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 Recent Development
10.1.4 MnM View
10.1.4.1 Key Strengths
10.1.4.2 Strategic choices made
10.1.4.3 Threat from competition
10.2 Matrix Specialty Lubricants BV
10.3 Phillips 66
10.4 Anglomoil
10.5 Tru Blu Oil
10.6 Oracle Petroleum Corporation
10.7 ATDM CO.LTD
10.8 Sasol Limited
10.9 PKN ORLEN
10.1 AIMOL
10.11 List of other key market players
11 Appendix
11.1 Insights from Industry Experts
11.2 Discussion Guide
11.3 Related Reports
The study involved four major activities to estimate the size of bentonite grease market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, certified publications, articles from recognized authors, gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, monetary chain of the market, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The bentonite grease market comprises several stakeholders in the value chain, which include raw material suppliers, manufacturers, distributors, and end users. Various primary sources from the supply and demand sides of the bentonite grease market have been interviewed to obtain qualitative and quantitative information.
The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the bentonite grease industry.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
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Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the bentonite grease market.
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Bentonite Grease Market: Bottum-Up Approach 1
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Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Report Objectives
- To define, describe, and forecast the size of the bentonite grease market, in terms of value and volume
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size based on type and application
- To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, and Middle East & Africa, and South America along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders
- To track and analyze recent developments such as expansions, new product launches, partnerships & agreements, and acquisitions in the market
- To strategically profile key market players and comprehensively analyze their core competencies2
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
- Regional Analysis
Further breakdown of a region with respect to a particular country or additional application
- Company Information
Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in Bentonite Grease Market