Published by Coherent Market Insights
Posted on September 22, 2021
Industrial greases are classified as lubricant used to reduce the friction between two surfaces making it slippery and smooth. Greases reduce the risk of wear and tear of the machinery component and increase the reliability of the machine. It has an excellent water-resistant property which is beneficial for preventing any leakage due to gravity. Automotive is the largest consumer of greases where it is used in automobile production. Greases are also used across a wide range of construction industry, especially in the residential sector. Industrial greases are also efficient in blocking the contaminant, reducing noise and power consumption.
The global industrial greases market is projected to reach around US$ 2623.3 million by the end of 2027, in terms of revenue, growing at CAGR of 5.5% during the forecast period (2020-2027).
Top Key Players in Industrial Greases market: Belray Company LLC, Texaco Inc., Exxon Mobil, Whitmore Manufacturing Co., Axel Christiernsson, Klüber Lubrication München SE & Co. KG, Dow Corning Corporation, Sinopec Lubricant Company, Lubriplate lubricant Co., Royal Dutch Shell plc, Castrol, Chemtool Incorporated, ETS Australia, Total SE, Fuchs Petrolub SE , and Caltex Australia
Regional Analysis:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Industrial Greases market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Rising demand for industrial greases from the Asia Pacific region as it is accounted for the largest consumer of grease due to the presence of a large number of industries is expected to propel the market growth. Growth in the construction and manufacturing industries across the ASEAN region is further increasing the consumption of greases. All these factors are expected to augment the market growth of industrial greases.
Rising demand for high-performance greases that can withstand high pressure and the temperature is projected to augment the market growth industrial grease. Growing demand for greases from metalworking and metallurgical industry coupled with the increasing production of heavy equipment for high-end applications is further anticipated to augment the market growth of industrial grease over the forecast period.
Rising demand for food-grade industrial grease used across food processing equipment is expected to offer numerous growth opportunities to the market of industrial grease. These food-grade greases are used across lubricant bearings, linkages, and moving joints of the equipment used in the food industry. Food grade greases are expected to offer a new opportunity to the market of industrial grease.
Growth in mechanization coupled with the increase in industrial production especially across the Asia Pacific region is expected to augment the market growth over the forecast period. Increasing utilization of grease across the manufacturing sector for enhancing the performance and reliability of machines is further expected to fuel the market growth of industrial grease.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Industrial Greases market analysis by latest trends, demand, key companies and sales data appeared first on Gatorledger.
Industrial greases are classified as lubricant used to reduce the friction between two surfaces making it slippery and smooth. Greases reduce the risk of wear and tear of the machinery component and increase the reliability of the machine. It has an excellent water-resistant property which is beneficial for preventing any leakage due to gravity. Automotive is the largest consumer of greases where it is used in automobile production. Greases are also used across a wide range of construction industry, especially in the residential sector. Industrial greases are also efficient in blocking the contaminant, reducing noise and power consumption.
The global industrial greases market is projected to reach around US$ 2623.3 million by the end of 2027, in terms of revenue, growing at CAGR of 5.5% during the forecast period (2020-2027).
Top Key Players in Industrial Greases market: Belray Company LLC, Texaco Inc., Exxon Mobil, Whitmore Manufacturing Co., Axel Christiernsson, Klüber Lubrication München SE & Co. KG, Dow Corning Corporation, Sinopec Lubricant Company, Lubriplate lubricant Co., Royal Dutch Shell plc, Castrol, Chemtool Incorporated, ETS Australia, Total SE, Fuchs Petrolub SE , and Caltex Australia
Regional Analysis:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Industrial Greases market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Rising demand for industrial greases from the Asia Pacific region as it is accounted for the largest consumer of grease due to the presence of a large number of industries is expected to propel the market growth. Growth in the construction and manufacturing industries across the ASEAN region is further increasing the consumption of greases. All these factors are expected to augment the market growth of industrial greases.
Rising demand for high-performance greases that can withstand high pressure and the temperature is projected to augment the market growth industrial grease. Growing demand for greases from metalworking and metallurgical industry coupled with the increasing production of heavy equipment for high-end applications is further anticipated to augment the market growth of industrial grease over the forecast period.
Rising demand for food-grade industrial grease used across food processing equipment is expected to offer numerous growth opportunities to the market of industrial grease. These food-grade greases are used across lubricant bearings, linkages, and moving joints of the equipment used in the food industry. Food grade greases are expected to offer a new opportunity to the market of industrial grease.
Growth in mechanization coupled with the increase in industrial production especially across the Asia Pacific region is expected to augment the market growth over the forecast period. Increasing utilization of grease across the manufacturing sector for enhancing the performance and reliability of machines is further expected to fuel the market growth of industrial grease.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Industrial Greases market analysis by latest trends, demand, key companies and sales data appeared first on Gatorledger.
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