Published by Coherent Market Insights
Posted on October 8, 2021
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).
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.
A detailed report on Global Industrial Greases Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.
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
Regional Analysis For Industrial Greases Market:
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.
Market Restraints
Availability of dry (powder) lubricants which are widely used across various lubricating application such as high-temperature conditions, extreme contact pressures, and reciprocating motions are expected to hinder market growth of industrial grease. Thus, the growing use of dry powder lubricants is expected to hamper the market growth over the forecast timeframe.
Key Takeaways:
On the basis of thickener type, simple metal soaps segment dominated the global industrial greases market in 2019 with a 61.1% of market share in terms of value, followed by complex metal soaps.
On the basis of base oil type, the mineral oil segment dominated the global industrial greases market in 2019 with 50.9 % of market share in terms of value, followed by synthetic and semi-synthetic respectively.
Market Trends
Growth in the construction industry coupled with the increasing population base rate is expected to fuel the demand for industrial grease. Growing demand for grease for the heavy construction machinery in order to enhance the performance and speed up the construction activities is further anticipated to accelerate the market growth of the industrial greases over the forecast timeframe. Moreover, the rising focus of manufacturers to enhance the properties of industrial grease is also expected to augment the market growth.
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 to Record US$ 2623.3 million growth during 2021-2027 | Belray Company LLC,Texaco Inc.,Exxon Mobil,Whitmore Manufacturing Co.,Axel Christiernsson appeared first on Gatorledger.
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).
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.
A detailed report on Global Industrial Greases Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.
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
Regional Analysis For Industrial Greases Market:
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.
Market Restraints
Availability of dry (powder) lubricants which are widely used across various lubricating application such as high-temperature conditions, extreme contact pressures, and reciprocating motions are expected to hinder market growth of industrial grease. Thus, the growing use of dry powder lubricants is expected to hamper the market growth over the forecast timeframe.
Key Takeaways:
On the basis of thickener type, simple metal soaps segment dominated the global industrial greases market in 2019 with a 61.1% of market share in terms of value, followed by complex metal soaps.
On the basis of base oil type, the mineral oil segment dominated the global industrial greases market in 2019 with 50.9 % of market share in terms of value, followed by synthetic and semi-synthetic respectively.
Market Trends
Growth in the construction industry coupled with the increasing population base rate is expected to fuel the demand for industrial grease. Growing demand for grease for the heavy construction machinery in order to enhance the performance and speed up the construction activities is further anticipated to accelerate the market growth of the industrial greases over the forecast timeframe. Moreover, the rising focus of manufacturers to enhance the properties of industrial grease is also expected to augment the market growth.
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 to Record US$ 2623.3 million growth during 2021-2027 | Belray Company LLC,Texaco Inc.,Exxon Mobil,Whitmore Manufacturing Co.,Axel Christiernsson appeared first on Gatorledger.
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