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Grease Market: By Base Oil Type, By Thickener Type, By End Use Industry and Geography
Grease Market: By Base Oil Type, By Thickener Type, By End Use Industry and Geography
Grease Market size was valued at US$ 3,629.4 million in 2023 and is expected to grow at a CAGR of 4.5% from 2024 to 2030. The global market report provides a thorough overview of the Market, which can be segmented by Base Oil Type, Thickener Type, End-Use Industry, and Geography. Based on the base oil type, the Market is segmented into Mineral, Synthetic, Bio-Based, and Others. In 2021 and the anticipated period, the synthetic oil segment can be estimated to grow the most in the forecast period owing to the advanced technology used in oil manufacturing and the advanced functionality these types of oil provide.
Moreover, the mineral oil segment is also about to experience a considerable amount of growth due to its widespread application range and availability of more variants. Based on thickener type, the segment has been segregated into simple soap, complex soap, non-soap, inorganic soap, and others. Complex soap is the most used in the forecast period owing to the exceptional stability and functionality the complex soap provides in the grease product. The non-soap materials provide oxidative stability to the grease materials. These are increasing demands and are estimated to follow the complex soap market expansion. Based on the End User, the market is segmented into Automotive, Construction, General Manufacturing, Metal, Mining, Food and beverage, Power, and Others. The automotive segment is leading in 2021 and can be expected to lead in the future, too. Still, the transition of the automotive industry from IC engines to electric motors will hamper the market growth in the forecast period. General manufacturing, metal, mining, and power sectors are to witness a constant year-over-year growth of grease demand and sell as these industries are expected to grow in the forecast period.
Study Period
2024-2030Base Year
2023CAGR
4.5%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
Drivers: High-performance grease is widely used in wind power plants to remove residue and ensure cleaner operations, which is helping the market expand. In addition, the expansion of the grease market is predicted to be fueled by the adoption of several government programs to promote the use of bio-based grease and the rise in product demand in the manufacturing industry.
By region, in 2021, the grease market was dominated by the Asia-Pacific region in terms of revenue due to the rapid urbanization of developing nations. Currently, China is the country that consumes the most grease. Due to its extensive manufacturing activity across various industries and its fast-paced development in the industrial and automotive sectors, the nation now ranks among the world's top consumers and producers of grease.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 3,629.4 million |
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Market CAGR |
4.5% |
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By Base Oil Type |
|
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By Thickener Type |
|
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By End Use Industry |
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Download Free Sample Report
The global grease market size was valued at US$ 3,629.4 billion in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2030.
The grease market key players 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 JX Nippon Oil & Energy Corporation Valvoline Llc Axel Americas Llc Balmer Lawrie & Co. LTD. BEL-RAY COMPANY, LLC Chemtool Inc. Citgo Petroleum Corporation Harrison Manufacturing Co. Pty ltd. Hexol International Ltd. Indian Oil Corporation Ltd. Lubri-lab inc. Lukeoil Marathon Petroleum Corporation Penrite Oil Company Phillips
The grease market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Grease Market Introduction |
| 2.1. Global Grease Market Taxonomy |
| 2.2. Global Grease Market Definitions |
| 2.2.1. By Base Oil Type |
| 2.2.2. By Thickener Type |
| 2.2.3. By End Use Industry |
| 2.2.4. By Region |
| 3. Global Grease Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Grease Market Dynamic Factors - Impact Analysis |
| 3.6. Global Grease Market Competition Landscape |
| 4. Global Grease Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Grease Market, By Base Oil Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Mineral |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Synthetic |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Bio-Based |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Grease Market, By Thickener Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.1. Metallic Soap |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Non-Soap |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Inorganic |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Grease Market, By End-Use Industry, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.1. Automotive |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Construction |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. General Manufacturing |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Metal |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Mining |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Food and Beverage |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 7.7. Power |
| 7.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.7.3. Market Opportunity Analysis |
| 8. Global Grease Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Latin America |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Europe |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Asia-Pacific |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Grease Market - Opportunity Analysis Index, By Base Oil Type, By Thickener Type, By End User Industry, and Region, 2024 - 2030 |
| 9. North America Global Grease Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 9.1. Base Oil Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Mineral |
| 9.1.2. Synthetic |
| 9.1.3. Bio-Based |
| 9.1.4. Others |
| 9.2. By Thickener Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Metallic Soap |
| 9.2.2. Non-Soap |
| 9.2.3. Inorganic |
| 9.2.4. Others |
| 9.3. By End User Industry Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1. Automotive |
| 9.3.2. Construction |
| 9.3.3. General Manufacturing |
| 9.3.4. Metal |
| 9.3.5. Mining |
| 9.3.6. Food & Beverage |
| 9.3.7. Power |
| 9.3.8. Others |
| 9.4. By Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1. United States |
| 9.4.2. Canada |
| 9.5. North America Global Grease Market - Opportunity Analysis Index, By Base Oil Type, By Thickener Type, By End User and By Country 2024 - 2030 |
| 9.6. North America Global Grease Market Dynamics Trends |
| 10. Europe Global Grease Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 10.1. Base Oil Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Mineral |
| 10.1.2. Synthetic |
| 10.1.3. Bio-Based |
| 10.1.4. Others |
| 10.2. By Thickener Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Metallic Soap |
| 10.2.2. Non-Soap |
| 10.2.3. Inorganic |
| 10.2.4. Others |
| 10.3. By End User Industry Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Automotive |
| 10.3.2. Construction |
| 10.3.3. General Manufacturing |
| 10.3.4. Metal |
| 10.3.5. Mining |
| 10.3.6. Food & Beverage |
| 10.3.7. Power |
| 10.3.8. Others |
| 10.4. By Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. United Kingdom |
| 10.4.3. Spain |
| 10.4.4. Italy |
| 10.4.5. France |
| 10.4.6. Russia |
| 10.4.7. Norway |
| 10.4.8. Rest of Europe |
| 10.5. Europe Global Grease Market - Opportunity Analysis Index, By Base Oil Type, By Thickener Type, By End User and By Country 2024 - 2030 |
| 10.6. Europe Global Grease Market Dynamics Trends |
| 11. Asia-Pacific Global Grease Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Base Oil Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Mineral |
| 11.1.2. Synthetic |
| 11.1.3. Bio-Based |
| 11.1.4. Others |
| 11.2. By Thickener Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Metallic Soap |
| 11.2.2. Non-Soap |
| 11.2.3. Inorganic |
| 11.2.4. Others |
| 11.3. By End User Industry Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. Automotive |
| 11.3.2. Construction |
| 11.3.3. General Manufacturing |
| 11.3.4. Metal |
| 11.3.5. Mining |
| 11.3.6. Food & Beverage |
| 11.3.7. Power |
| 11.3.8. Others |
| 11.4. By Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1. China |
| 11.4.2. India |
| 11.4.3. Japan |
| 11.4.4. South Korea |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Global Grease Market - Opportunity Analysis Index, By Base Oil Type, By Thickener Type, By End User and By Country 2024 - 2030 |
| 11.6. Asia-Pacific Global Grease Market Dynamics Trends |
| 12. Latin America Global Grease Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Base Oil Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Mineral |
| 12.1.2. Synthetic |
| 12.1.3. Bio-Based |
| 12.1.4. Others |
| 12.2. By Thickener Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Metallic Soap |
| 12.2.2. Non-Soap |
| 12.2.3. Inorganic |
| 12.2.4. Others |
| 12.3. By End User Industry Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1. Automotive |
| 12.3.2. Construction |
| 12.3.3. General Manufacturing |
| 12.3.4. Metal |
| 12.3.5. Mining |
| 12.3.6. Food & Beverage |
| 12.3.7. Power |
| 12.3.8. Others |
| 12.4. By Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Global Grease Market - Opportunity Analysis Index, By Base Oil Type, By Thickener Type, By End User and By Country 2024 - 2030 |
| 12.6. Latin America Global Grease Market Dynamics Trends |
| 13. Middle East and Africa Global Grease Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Base Oil Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Mineral |
| 13.1.2. Synthetic |
| 13.1.3. Bio-Based |
| 13.1.4. Others |
| 13.2. By Thickener Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Metallic Soap |
| 13.2.2. Non-Soap |
| 13.2.3. Inorganic |
| 13.2.4. Others |
| 13.3. By End User Industry Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1. Automotive |
| 13.3.2. Construction |
| 13.3.3. General Manufacturing |
| 13.3.4. Metal |
| 13.3.5. Mining |
| 13.3.6. Food & Beverage |
| 13.3.7. Power |
| 13.3.8. Others |
| 13.4. By Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1. Middle East |
| 13.4.2. South Africa |
| 13.4.3. Israel |
| 13.4.4. Argentina |
| 13.4.5. Rest of Latin America |
| 13.5. Middle East and Africa Grease Market - Opportunity Analysis Index, By Base Oil Type, By Thickener Type, By End User and By Country 2024 - 2030 |
| 13.6. Middle East and Africa Grease Market Dynamics Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Base Oil & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Royal Dutch Shell Plc |
| 14.2.2. Chevron Corporation |
| 14.2.3. Idemitsu Kosan Co., Ltd. |
| 14.2.4. Sinopec Corporation |
| 14.2.5. Total S.A. |
| 14.2.6. Fuchs Petrolub SE |
| 14.2.7. Exxonmobil Corporation |
| 14.2.8. Petroliam Nasional Berhad (Petronas) |
| 14.2.9. BP P.L.C. |
| 14.2.10. The Dow Chemical Company |
| 14.2.11. JX Nippon Oil & Energy Corporation |
| 14.2.12. Valvoline Llc |
| 14.2.13. Axel Americas Llc |
| 14.2.14. Balmer Lawrie & Co. LTD. |
| 14.2.15. BEL-RAY COMPANY, LLC |
| 14.2.16. Chemtool Inc. |
| 14.2.17. Citgo Petroleum Corporation |
| 14.2.18. Harrison Manufacturing Co. Pty ltd. |
| 14.2.19. Hexol International Ltd. |
| 14.2.20. Indian Oil Corporation Ltd. |
| 14.2.21. Lubri-lab inc. |
| 14.2.22. Lukeoil |
| 14.2.23. Marathon Petroleum Corporation |
| 14.2.24. Penrite Oil Company |
| 14.2.25. Phillips |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.