Grease Market Forecast 2021–2026 | COVID -19 Impact Report With Top Key Players- Royal Dutch Shell Plc, Chevron Corporation, Idemitsu Kosan Co., Ltd., Sinopec Corporation, Total S.A., Fuchs Petrolub Se, Exxonmobil Corporation

Global Grease Market is valued approximately at USD 5.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 2.9% over the forecast period 2020-2027. Grease is formed by the deposition of thickening agent in the liquid lubricant and has various properties including water resistance, lubrication to the moving surface under gravity, pressure, or centrifugal action. Grease is a chemical combination of thickener, oil, and additives that prevents any wear tear loss, contamination, and reduces noise and power consumption.

It is highly consumed in various end use industries including power generation, construction, metal production, general manufacturing, automotive, mining, food & beverage and others. Rise in automation in various industries, improved quality of grease and increased demand of metallic soap thickener from the end users are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements in grease and rising manufacturing of automotive will increase the demand of grease.

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Major market player included in this report are:
Royal Dutch Shell Plc
Chevron Corporation
Idemitsu Kosan Co., Ltd.
Sinopec Corporation
Total S.A.
Fuchs Petrolub Se
Exxonmobil Corporation
Petroliam Nasional Berhad (Petronas)
BP P.L.C.
The Dow Chemical Company

For instance: According to Statista, around 8.76 million motor vehicles were produced in North America in 2009 and has risen by 16.8 million production of motor vehicle in 2019. Also, as per The Society of Motor Manufacturers and Traders, in 2006 UK automotive industry has exported at least 75% of UK production of finished vehicles and has increased to 96% of total finished vehicles in 2018. Thus, increasing demand of grease from end use industries will accelerate the demand of the market. Whereas, stringent environmental regulations is the major factor restraining the growth of global Grease market during the forecast period.

The regional analysis of global Grease market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the increasing demand for grease from pharmaceuticals and nutraceutical segments as well as high spending power of consumers in the region and the growing demand for natural cosmetics with good quality products.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

by Thickener Type:
Metallic Soap Thickener
Non-soap Thickener
Inorganic
by Base Oil:
Mineral oil
Synthetic oil
Bio-based oil

By End-Use Industry:
Automotive
Construction
General Manufacturing
Mining
Metal production
Power generation
Food & Beverage
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Grease Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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This release was published on openPR.