Concerns about sustainability promoting adoption of environment-friendly lubrication solutions, thus driving industrial grease market growth, says Fact.MR.

MD, UNITED STATES, January 7, 2025 /EINPresswire.com/ -- Based on the latest industry analysis by Fact.MR, the global industrial grease market size is pegged at US$ 2.12 billion in 2023 and is forecasted to expand at a CAGR of 5.5% to reach US$ 3.62 billion by the end of 2033.

Several industries, including manufacturing, automotive, mining, construction, power production, and transportation, employ industrial grease on a wide scale. These greases are applied to machinery components such as slides, gears, bearings, and chains to minimize wear, reduce heat, and prevent damage.

Demand for industrial greases is driven by the expansion of infrastructure and the burgeoning industrial sector in emerging economies. With a focus on sustainability, technological advancements, and increasing need for high-performance lubrication, the global market for industrial greases is evolving to align with the shifting demands of industries.

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Key Takeaways from Market Study

• The global market is projected to advance at 5.5% CAGR and reach US$ 3.62 billion by 2033-end.
• The market was pegged at a value of US$ 2.01 billion in 2022.
• The mineral-oil-based segment is predicted to expand at a CAGR of 5.8% during the forecast period (2023 to 2033).
• The United States market is projected to reach US$ 580.9 million by the end of 2033.
• The market in China is forecasted to expand at a CAGR of 6.1% and reach a valuation of US$ 1.14 billion by 2033-end.

“Shift toward synthetic industrial grease variants is predicted to be significant over the coming years,” says a Fact.MR analyst.

Market Growth Strategies

Industry players are emphasizing sustainable lubrication solutions due to growing environmental concerns. They create greases that are less harmful to the environment, more biodegradable, and less poisonous. Businesses can obtain a competitive edge and draw in environmentally sensitive clients by emphasizing the sustainable qualities of their products.

Market participants seeking to bolster their position in the market choose to engage in mergers, acquisitions, or strategic alliances. Through these partnerships, new technology, clientele, and distribution networks are made available. Enterprises can improve their capabilities, enhance their market share, and realize economies of scale by purchasing or merging with similar enterprises.

Market participants aim to enhance their market share in developing economies with expanding industrial sectors. To meet the rising demand for industrial greases, they set up production plants or distribution systems in various areas. Companies can enter new markets through geographical expansion, cut expenses associated with shipping, and provide quicker lead times to local clients.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the industrial grease market, presenting historical market data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study reveals essential insights based on base oil (mineral oil, synthetic oil, semi-synthetic oil, bio-based), end use (on-road vehicles, other transportation applications, mining & metallurgy, off-highway & construction, auto manufacturing, other manufacturing applications), and thickener type (simple metal soaps, non-soap thickeners, complex metal soaps), across major regions of the world (North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa).

Key Companies Profiled-

Belray Company LLC; Texaco Inc.; ExxonMobil Corporation; Whitmore Manufacturing Company; Axel Christiernsson International AB; Dow Corning Corporation; Sinopec Lubricant Company; Royal Dutch Shell PLC; Others

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