Global Grease Industry

Global Grease Industry

  • April 2021 •
  • 377 pages •
  • Report ID: 5900633 •
  • Format: PDF
Abstract:
- Global Grease Market to Reach $6.3 Billion by 2027
- Amid the COVID-19 crisis, the global market for Grease estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$6.3 Billion by 2027, growing at a CAGR of 3% over the analysis period 2020-2027. Mineral, one of the segments analyzed in the report, is projected to record a 3% CAGR and reach US$2.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Synthetic segment is readjusted to a revised 3.5% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 4.9% CAGR
- The Grease market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2027 trailing a CAGR of 4.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.
- Bio-based Segment to Record 2.2% CAGR
- In the global Bio-based segment, USA, Canada, Japan, China and Europe will drive the 2.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$763.8 Million in the year 2020 will reach a projected size of US$886.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$802 Million by the year 2027, while Latin America will expand at a 2.2% CAGR through the analysis period.

- Select Competitors (Total 35 Featured) -
  • Axel Americas LLC
  • Balmer Lawrie & Co., Ltd.
  • Bel-Ray Company, LLC
  • Chemtool, Inc.
  • Citgo Petroleum Corp.
  • Harrison Manufacturing Co., Pty Ltd.
  • Hexol International Ltd.
  • Indian Oil Corporation Ltd.
  • Lubri-Lab, Inc.
  • Lukeoil
  • Marathon Petroleum Corp.
  • Penrite Oil Company
  • Phillips 66 Lubricants