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Grease Market demand generated by product uses, driving application, segments, prominent regions, 2020-2025
Grease Market
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Global Grease Market size shall grow with a prominent CAGR in the forecast timeframe. Grease is a semi-solid lubricant. It is a mixture of thickener dispersed in oil and fluid lubricant. The product is used in the automotive industry on a vast scale Greased machinery consumes less amount of power and have very little impact to any wear & tear damage.
This report also focuses on the Professional Global grease market size with respect to the volume and value - at the regional, company, and worldwide level. Market strategies undertaken, with regards to the current and future industry scenario have also been enlisted in the study.
Grease market has witnessed increasing use of biodegradable greases in past few years. These are high performing and their additives are either synthetic ester or vegetable oil based. It degrades sooner compared to its mineral oil-based alternatives and do not release environmentally harmful residues after use. Moreover, their manufacturers comply with environmental regulations Automobile industry has been a major product consumer keeping the exponential growth it has registered in past few years.
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Some prominent players operating in grease market are Exxon Mobil Corporation, Shell Global, Chevron Corporation, Idemitsu Kosan Co. Ltd, China Petrochemical corporation, Total, FUCHS, Petroliam Nasional Barhad, BP plc, DowDuPont, CITGO Petroliam Corporation, Harrison Manufacturing and Indian oil corporation Ltd.
Automobile industry growth will positively impact product demand in the coming years. Long component life, low friction and easily renewable raw material shall make product market more sustainable during the forecast period. However, factors such as development of self-lubricant equipment, unfavorable availability of raw material and fluctuation in exchange rate shall restrain the grease market growth over the forecast timeframe. Insufficient knowledge regarding right product grades among consumers usually lead to dissatisfaction about the product.
The regional segmentation covers:
o Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
o North America Region (U.S., Canada, Mexico)
o South America Region (Argentina, Brazil, Columbia, Rest of South America)
o Asia-Pacific Region (China, South Korea, Japan, Southeast Asia, India, Rest of Asia-Pacific)
o The Middle East & Africa Region (UAE, Saudi Arabia, Nigeria, South Africa, Egypt, Rest of MEA)
North America and Europe were prominent regions in global grease market in 2017, which can be attributed to their well-established automobile industries. Asia Pacific held the largest market share in 2017. The product demand is prominently driven by India, China, Thailand and Japan owing to rapidly growing automobile sector in these countries.
Moreover, growing infrastructure and increasing participation of foreign direct investors in this region shall directly drive construction industry dynamics which will propel product demand over the forecast period. Latin America is likely to foster the product demand over the next few years due to growing industrialization and urbanization in Brazil.
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Key questions answered in the report:
o What will be the grease industry demand, size, share, and consumption between 2020 to 2025?
o What will the growth rate of the grease market?
o What was the status of the grease market worldwide during the past years?
o What are the key factors that will drive the market?
o What are the risks, opportunities, and the overview of grease industry?
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