Global Lubricating Grease Market Overview:
Lubricating Grease is a solid or semi-solid oil which consist of several emulsified soap with mineral oil and vegetable oil. The lubricating grease offers specifications such as high initial viscosity that make frictional to grease oil. It is applicable in gearboxes, for noise reduction, leakage resistant and suspension of solid additives. There has been significant rise in number of Lubricating Grease production capacity with figure stood up to 1.1 million metric ton in global in 2016, the future for Lubricating Grease looks promising. The major companies are introducing latest technology based on Lubricating Grease in Asia-Pacific and Middle East region as its demand is observed in automotive industries that consume a majority of lubricating oils. The Mining activities utilized lubricating grease in innovations and production that are expected to drive the demand for Lubricating Grease over the forecasted period. According to AMA, the Global Lubricating Grease market is expected to see growth rate of 4.1%
- Increase In Demand of Vehicles that Consume Less Fuel Which Significantly Contributing to Environmental Improvement.
- Rise in Demand of Bio-Greases in Environmentally Sensitive Nations Fuelled Up the Market.
- Upsurge demand of industrial lubricants such as processed oil, greases and metal working fluids.
- Rapid investments at aircraft manufacturing industries.
- Lubricating Grease Can’t be Recycled and Reused.
- Stiff Competition among the Major Players.
- Introduction of Battery Operated Vehicles Expected to Boost The Lubricating Grease Market.
- Rapid Technological Innovation in the Field Of Designing, Marketing and E-Commerce Leads to Propel the Market.
- Adverse Impact Due to Poor Heat Transfer and Doesn’t Flow Like Liquid Lubricant.
Some of the key players profiled in the report are Castrol (United Kingdom), Exxon Mobil (United States), Dow Corning Ltd. (United Kingdom), Chevron Corporation (United States), Lukeoil (Russia), Royal Dutch Shell PLC (The Netherlands), Sinopec Corporation (China), Balmer Lawrie & Co. Ltd (India), Petronas (Malyasia), SKF (Sweden) and Axel Christiernsson (Sweden). Additionally, following companies can also be profiled that are part of our coverage like Idemitsu Kosan Co., Ltd. (Japan), Citgo Petroleum Corporation (United States) and Harrison Manufacturing Co. PTY Ltd (Australia). Considering Market by Thickners, the sub-segment i.e. Metal Soaps will boost the Lubricating Grease market.
In June 2018, ExxonMobil acquired an Indonesian Lubricant Manufacturer and Marketer PT Federal Karyatama. This acquisition is beneficial in strengthening its distribution network and blending plants at oil, gas and petrochemical industries.
Mirror Lubricants and Greases launched an innovative range of ‘Mirr Oils’ lubricating caters in India which is beneficial in providing services to marine, automotive and industrial.
“According to Government of India, Department of Petroleum has issued an order in 1987; that the Re-refining of used lubricating oil, the purpose of giving license is to make efforts to ensure that the used lubricating oil from major suppliers in the organized sector of industry in the state is supplied to the registered units only.”
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Lubricating Grease market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Lubricating Grease market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Lubricating Grease Manufacturers, Lubricating Grease Traders, End-Use Market Participants of Different Segments of Lubricating Grease, Government and Research Organizations, R&D Institutions and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.