Press release
Railway Grease Market Size, Share, Development by 2023
Railway Grease is a semisolid lubricant used in in the rail transport sector, which can reduce the friction at the rail-wheel interface, extend rail and wheel life, reduce fuel consumption and reduce wheel squeeze. Grease generally consists of a soap emulsified with mineral or vegetable oil. The characteristic feature of greases is that they possess a high initial viscosity, which upon the application of shear, drops to give the effect of an oil-lubricated bearing of approximately the same viscosity as the base oil used in the grease.
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Global Railway Grease Market: Forecast by Type / Application / Region
Under the background of slower economy growth rate, companies face the higher risks of profit decline. Currently, railway grease market has a certain potential in Europe, USA. These areas demand are relatively stable. During these years, China's railway grease industry maintains a rapid growth. In developing countries, many countries are developing railways.
In future, the railway grease industry in the world will turn concentrated. The world railway grease consuming market will still has a certain amount of growth. Global competition is likely to turn to the relationship of competition and cooperation. With the development of economy, Railway Grease has huge market potential in the future. Owing to the increasing of demand in railway grease downstream products, the world railway grease capacity will continue to expand.
Base oil, thickener and additive are the main raw materials for the production of railway grease. Large and medium-sized companies produced the base oil by themselves, and some small-sized companies need to buy raw materials from large companies or distributors. With the development of railway grease, the raw materials manufacturers are also benefited from the railway grease industry in some extent.
Over the next five years, LPI(LP Information) projects that Railway Grease will register a 2.5% CAGR in terms of revenue, reach US$ 620 million by 2023, from US$ 530 million in 2017.
Global Railway Grease Market: Key Players
Shell
Exxon Mobil
BP
Chevron
Total
SKF
CITGO
Fuchs
Petro-Canada
Timken
Kyodo Yushi
Lukoil
Plews/Edelmann
Klueber
Sinopec
CNPC
CRM
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Related Information:
United States Railway Grease Market Research Report 2018
Europe Railway Grease Market Research Report 2018
North America Railway Grease Market Research Report 2018
Asia-Pacific Railway Grease Market Research Report 2018
China Railway Grease Market Research Report 2018
EMEA Railway Grease Market Research Report 2018
Global Railway Grease Market Research Report 2018
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