Several variables, particularly in the manufacturing sector, impact the worldwide industrial greases market. For starters, there is a decrease in the offshoring of industrial activity to low-cost economies for a variety of economic and political reasons. Furthermore, firms throughout the Asia Pacific area are working to modernize and streamline their production processes in order to compete successfully with the established western world. Furthermore, factories all around the world are focusing on improving energy efficiency, lowering emissions, and becoming more environmentally friendly by using sustainable manufacturing techniques. All of these factors will have a significant impact on the global industrial greases market.
In terms of base oil type, the mineral oil segment accounted for US$ 1,275.2 Mn in 2017 and is expected to lead the worldwide industrial greases market. In 2017, the on-road vehicles category was valued at US$ 346.3 Mn by end-use. Among thickener kinds, the simple metal segment led the worldwide industrial greases market in 2017, with a value of US$ 961.6 Mn. Among the geographical markets, Asia Pacific is estimated to lead the worldwide industrial greases market, with a value of US$ 757.6 Mn by 2021.
The study on the worldwide market for industrial greases highlights some of the most important competitors in this highly competitive market. Belray Company LLC, Texaco Inc., Exxon Mobil, Whitmore Manufacturing Co., Axel Christiernsson, Klüber Lubrication München SE & Co. KG, Dow Corning Corporation, Sinopec Lubricant Company, Lubriplate lubricant Co., Royal Dutch Shell plc, Castrol, Chemtool Incorporated, ETS Australia, Total SE, Fuchs Petrolub SE, and Caltex Australia are among the top players profiled