Few Diverse Global Players Dominate the Market Holding ~40% of Revenue Share Despite Presence of approximately 200 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Global Grease Market by Ken Research
Grease is a solid or semisolid liquid lubrication. Lubricating grease consists of 65 to 95% base oil, 3 to 30% thickener, and 0 to 10% additives. The main function of grease is to provide lubrication without leaking and contacting the material. The functional properties of grease include better performance than oil, solid sealant, prevents leakage, and uncontrollable fluid level. It is used in multiple industries such as automotive and transport, chemical, food processing, wind generation, heavy equipment, steel, mining, general manufacturing, and others. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Global Players Who Comprise ~15% in Terms of Number of Competitors Hold Dominant Revenue Share
Competitive Analysis by the research study found that the Global Grease market is moderately competitive with approximately 200 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in production and manufacturing for specific grade grease. The large global players even though comprise about ~15% in terms of the number of companies, hold ~40% of the market revenue share followed by regional players which account for ~30% of the market revenue. Most of the global players are having their operations in different regions worldwide.
Specialist Players within Global Grease Market Earn a Significant Chunk of their Overall Revenues from this Segment
Detailed Comparative Analysis of Key Competitors done within the research study reveals that diversified players having a variety of grease products such as Exxon Mobil, Chevron Corporation, and Castrol are highly focused on providing a full segment of grease as per the analysis done in the study on the Global Grease market. All leading global competitors are having a strong presence in the Global Grease market and offer comprehensive Grease solutions to all major industries including automotive, transportation, wind power, heavy equipment, aerospace, and any other industrial site. Furthermore, several companies and organizations are aggressively investing in R&D to cater to the demand from end-users.
- In September 2022, Piedmont Lithium announced an investment of US$582 million to establish a lithium hydroxide processing, refining, and manufacturing facility in Southeast Tennessee.
- In August 2022, BP to invest up to US$48 million in new global battery research and development center in Britain. The facility works on developing leading fluids technology, Castrol ON develops lubricants and greases for the growing EVs market.
Covid19 Slowed Down the Growth of the Grease Market. Although the Market is estimated to Recover Soon as the Country’s Restrictions and Lockdown on Manufacturing Plants are Easing Down
Covid19 has slowed down the growth of the grease market. Implementing lockdown on economies, temporary shutdown of manufacturing plants, and reduction in vehicle traffic globally, were all those factors that reduce the use of grease in the market. According to the International Monetary Fund (IMF), a USA-based organization that promotes global economic growth and financial stability, provided in the growth projection released in April 2022, global economic growth is projected to slow from an estimated 6.1% in 2021 to 3.6% in 2022 and 2023. Declining economic growth will directly impact the chemical, construction, automotive, and other industries.
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Increased adoption of Grease Globally leading to major industry-wide developments, acquisitions, collaborations, and deal-wins
- In June 2021, the FUSCH group acquired Gleitmo Technik AB, Sweden to strengthen the specialty lubricating business.
- FUSCH mentioned in its annual report for FY20-21, it expands with the new plant in Kaiserslautern, which produces custom-made polyurea greases for e-mobility and wind power. US$15.5 million was invested in the 3 German sites in Mannheim, Keil, and Kaiserslautern.
Key Topics Covered in the Report: –
- Snapshot of Global Grease Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Grease Market
- Historic Growth of Overall Global Grease Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Grease Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid 19 Impact on the Overall Global Grease Market
- Future Market Forecast and Growth Rates of the Total Global Grease Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Grease Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Key Profiled Companies Mentioned in the Report: –
- Royal Dutch
- Exxon Mobil
- Chevron Corporation
- FUCHS PETROLUB SE
- Sinopec Corporation
- Total Energy
- ENEOS Corporation
- Phillips 66
- Indian Oil Corporation Ltd.
Notable Emerging Companies Mentioned in the Report
- Bansal Oil and Lubricants Co.
- Henan Dongsen Lubrication Technology Co., Ltd.
- Ganga Sagar Trading Co.
- Continental Oils & Lubricants FZE
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Grease Manufacturing Companies
- Grease Distributors
- Grease Traders
- Grease Material Supplier Companies
- Potential Investors in Grease Companies
- Lubrication Association
- Grease Association
- Oil and Lubrication Sector
- Lubrication Manufacturing Companies
- Research & Development Institutes
- Government Investors
- Consulting companies in the lubrication sector
- Grease component providers
- Non-Soap and Metallic Soap component manufacturers
- Government and research organizations
- Investment banks
- Investors and financial community professionals
- Investment Funds
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
For More Information on The Research Report, Refer to Below Link: –
Related Report by Ken Research: –
Indonesia Industrial Lubricants Market Outlook to 2023 – By Industrial Lubricants (Hydraulic Oils, Industrial Greases, Metal Working Fluids, Industrial Gear Oils, Turbine Oils, Compressor Oils, and Others), By End Uses (Construction and Mining, General Manufacturing, Power Generation, Metal Production, Food Processing, Cement and Others), By Distribution Channel (Direct Sales and Dealer Network)
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Ankur Gupta, Head Marketing & Communications