The grease market size is projected to reach USD 6.1 billion by 2025 from USD 5.3 billion in 2020, at a CAGR of 2.9%. Rising automation in various industrie is expected to support the growth of the grease market. However, stringent environmental regulations is restraining the growth of the market. On the other hand, the increased demand for polyuria has created opportunities for manufacturers.
Royal Dutch Shell PLC. (Netherland), BP p.l.c.(UK), ExxonMobil Corporation (US), Total SA (France) and Chevron Corporation (US) are the major players in this market.
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Royal Dutch Shell PLC. is the largest player in the grease market. It is vertically integrated and is active in both upstream and downstream activities in the oil & gas industry. Its well-established distribution network and brand value serve as important factors for its future growth. The company is mainly focused on its downstream business segment as it has a strong revenue-generating segment with high return-on-investment. It is focusing on expansion as the key growth strategy. It has made a large number of expansions to meet the increasing demand from customers and strengthen its position in the global lubricants market.
ExxonMobil Corporation is the second-largest player in the grease market. ExxonMobil is focusing on enhancing its market reach by foraying into new markets. The company completed the expansion project of its Singapore refinery. The facility will strengthen the supply for Group II EHC base oil used for manufacturing premium-grade lubricants. Moreover, the company has launched new products to strengthen its global presence.
It is the third-largest company in the grease market, with a share of 9%. It has a strong brand name in the oil & gas industry. The vertical integration of the company is a major factor responsible for its huge growth. Castrol is the flagship lubricant brand of the company that has a vast product line, catering to a wide range of industries.
Grease Market by Base Oil (Mineral, Synthetic, Bio-Based), Thickener Type (Metallic Soap, Non-Soap, Inorganic), End-Use Industry (Automotive, Construction, General Manufacturing, Metal, Mining, Food & Beverage, Power) - Global Forecast to 2025
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