This Persistence Market Research report examines the global industrial greases market for the forecast period 2015-2021. The primary objective of the report is to identify opportunities in the market and present updates and insights pertaining to various segments of the global industrial greases market.
Industrial greases are lubricating greases, which are used in various machines to reduce wear and tear from continuous use. They are formed from the amalgamation of base oils, thickeners, and additives. They are primarily used in maintaining machines in the manufacturing industries. The automotive industry is the largest industry segment in the industrial greases market due to their frequent application in the production and maintenance of automobiles. The industrial greases market largely follows the GDP growth of the respective region and fall trajectory with a high co-relation.
To understand and assess the opportunities in this market, the report is categorically divided into four main market analysis sections, i.e., by base oil type, by thickener type, by application, and by region. The report analyses the global industrial greases market in terms of market value (US$ Mn) and volume (Metric Tons).
The report begins with an overview of the global industrial greases market, appraising the market performance in terms of revenue and volume, followed by PMR’s analysis of key trends, drivers, and restraints witnessed in the global industrial greases market. Impact analysis of key growth drivers and restraints based on the weighted average model are also included in the report to equip the client with crystal clear decision-making insights.
The subsequent section analyses the industrial greases market as per application, and presents a forecast for the period 2015?2021.
Applications assessed in the report include:
The report further analyzes the market based on regions and presents the forecast in terms of value for the next six years.
Regions assessed in the report include:
Industrial Greases market based on base oil type
To calculate the market size, the report considers various aspects based on secondary research. Furthermore, data points such as regional split and market split by application and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated by the global industrial greases market between 2015 and 2021.
When developing the market forecast, the starting point begins with sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, PMR triangulates the data via a different analysis based on the supply side, demand side, and dynamics of the industrial greases market. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyse on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities.
Another key feature of this report is the analysis of industrial greases market by region and application, and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective, in the global industrial greases market.
To understand key segments in terms of their growth and performance in the industrial greases market, Persistence Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global Industrial greases market.
In the final section of the report, the industrial greases market competitive landscape is included to provide a dashboard view of companies that manufacture and supply industrial greases. The report contains company profiles of some of the major players operating in the global industrial greases market.
Industrial greases are used to reduce the friction between two objects attached and rotating relative to each other. They possess higher viscosity index than lubricants due to a presence of thickeners which provide them a semi-solid physical state. Industrial greases are formed by the amalgamation of base oil (75% - 90%), thickener (15% -5%), and additives (10% - 5%) in varying quantities to achieve certain properties in the end product.
Industrial greases market trails the GDP due to their widespread application in manufacturing of goods and automotive maintenance operations. Due to the surge in manufacturing in Asia Pacific, the industrial greases market in the region is estimated to witness growth, expanding at a CAGR of 6.3% between 2015 and 2021 in terms of revenue. With the anticipated increase in manufacturing in China in the coming years, the demand for industrial greases in the country is expected to rise between 2015 and 2021. With the rising operating time of machines and greater speed of operations, the need for industrial greases is expected to increase by 2021. Besides, with increase in mechanization of manufacturing activities in developed regions such as North America and Europe, demand for industrial greases is anticipated to increase in these markets.
Industrial greases Market has categorized the global industrial greases market into key segments based on thickener type, base oil type, applications, and geographic regions. Depending on the application segment, the global industrial greases market is divided into various segments, such as other manufacturing, automotive production, automobile, and other applications. Finally, on the basis of geographic regions, the overall industrial greases market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Amongst the aforementioned region based segments in the global industrial greases market, Asia Pacific is expected to expand at an accelerated CAGR of 4.6%, in terms of volume, during the forecast period. The region is expected to account for a volume share of around 41.58% of the global industrial greases market by the end of 2015. In terms of market value, Asia-Pacific is expected to account for a major value share of the global industrial greases market during the forecast period.
Amongst the application segments of the global industrial greases market, the on a road and other manufacturing segments are slated to expand at the fastest CAGR during the forecast period, in terms of volume. The growth of this segment is primarily driven by the increase in run time, rise in mechanization, and increasing GDP. In terms of market value, the other manufacturing segment is expected to expand at a CAGR of 5.6% during the forecast period.
Some of the market players featured in this report include: