Industrial greases market trails the GDP due to their widespread application in manufacturing of goods and automotive maintenance operations. Due to the surge in manufacturing in Asia Pacific, the industrial greases market in the region is estimated to witness growth, expanding at a CAGR of 6.3% between 2015 and 2021 in terms of revenue.

1. Global Study on Industrial Greases Market, 2015-2021
Persistence Market Research
Global Industrial Greases Market is
Expected to Reach Value of US$ 1,905.9 Mn
by 2021 : Persistence Market Research
Persistence Market Research 1

2. Global Study on Industrial Greases Market, 2015-2021
Persistence Market Research Released New Market Report According to a new market report
published by Persistence Market Research “Global Market Study on Industrial Greases:
On-Road Vehicle Segment to Dominate the Consumption by 2021”, the global
industrial greases market is estimated to reach US$ 1,905.9 Mn by 2021 from US$ 1,384.7
Mn in 2015.
Industrial greases are an incumbent part of machine maintenance operations around the
world. Unlike other lubricants which are amalgamations of base oils and additives, greases
contain another component called ‘thickeners’ to provide them the necessary tribology for
their effective utilization in machines. Due to their semi-solid state, greases have a higher
viscosity index and, thus, are used in applications with higher torque. There are various
types of greases used in numerous applications based on the combination of thickeners,
base oil, and additives.
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Among the regions, the market in Asia Pacific is expected to account for 41.5% volume share
of the overall industrial greases market, followed by North America and Europe, by 2015
end. Due to increase in manufacturing activity in Asia Pacific, the industrial greases market
in the region is projected to expand at a higher than average CAGR of 6.3% between 2015
and 2021 in terms of revenue. The market in China, which is anticipated to account for
35.94% revenue share of the overall market by 2015 end, is expected to be driven by the
rise of the manufacturing sector in the country. The industrial greases market in North
America and Europe is estimated to witness an average increase in revenue due to maturing
market conditions.
As of 2014, global industrial greases production is dominated by Mineral oil based greases,
and similar trend is expected to continue during the forecast period. Consumption of mineral
oil based greases is expected to be the highest in Asia Pacific due to higher application of
Group I base oils in the region, as compared to North America and Europe where Group I
base oil production has been declining. Semi-synthetic and synthetic base oil production in
the market is anticipated to increase at a promising double digit CAGR, respectively, from
2015 to 2021 in terms of volume.
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3. Global Study on Industrial Greases Market, 2015-2021
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On road vehicles, application segment is expected to be the largest application segment by
the end of the forecast period and is expected to expand at significant CAGR as compared to
other applications during the same period. Increasing Vehicle Park coupled with the
moderate performance of industrial sector across the globe are the major factors driving
growth in global industrial greases market. Owing to rapid industrialization, urbanization and
stable economic conditions, developing economies are expected to witness high revenue
growth during the forecast period when compared with developed economies.
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The global report on industrial greases identifies market opportunities in the
following segments as described below:
By Application:
 On road vehicles
 Automotive Manufacturing
 Off Highway and Construction
 Mining and Metallurgy
 Other Transportation
 Other Manufacturing Sector
By Region
 North America
 Europe
 APAC
 The Middle East & Africa
 Latin America
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4. Global Study on Industrial Greases Market, 2015-2021
By Thickener Type
 Metal soaps
 Non-soap
 Complex metal
By Base Oil Type
 Mineral based base oil
 Synthetic base oil
 Semi-synthetic base oil
 Bio based base oil
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Market History:
Industrial greases are used to reduce the friction between two objects attached and rotating
relative to each other. They possess higher viscosity index than lubricants due to a presence
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5. Global Study on Industrial Greases Market, 2015-2021
of thickeners which provide them a semi-solid physical state. Industrial greases are formed
by the amalgamation of base oil (75% - 90%), thickener (15% -5%), and additives (10% -
5%) in varying quantities to achieve certain properties in the end product.
Industrial greases market trails the GDP due to their widespread application in
manufacturing of goods and automotive maintenance operations. Due to the surge in
manufacturing in Asia Pacific, the industrial greases market in the region is estimated to
witness growth, expanding at a CAGR of 6.3% between 2015 and 2021 in terms of revenue.
With the anticipated increase in manufacturing in China in the coming years, the demand for
industrial greases in the country is expected to rise between 2015 and 2021. With the rising
operating time of machines and greater speed of operations, the need for industrial greases
is expected to increase by 2021. Besides, with increase in mechanization of manufacturing
activities in developed regions such as North America and Europe, demand for industrial
greases is anticipated to increase in these markets.
Industrial greases Market has categorized the global industrial greases market into key
segments based on thickener type, base oil type, applications, and geographic regions.
Depending on the application segment, the global industrial greases market is divided into
various segments, such as other manufacturing, automotive production, automobile, and
other applications. Finally, on the basis of geographic regions, the overall industrial greases
market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and
Latin America.
Amongst the aforementioned region based segments in the global industrial greases market,
Asia Pacific is expected to expand at an accelerated CAGR of 4.6%, in terms of volume,
during the forecast period. The region is expected to account for a volume share of around
41.58% of the global industrial greases market by the end of 2015. In terms of market value,
Asia-Pacific is expected to account for a major value share of the global industrial greases
market during the forecast period.
Amongst the application segments of the global industrial greases market, the on a road and
other manufacturing segments are slated to expand at the fastest CAGR during the forecast
period, in terms of volume. The growth of this segment is primarily driven by the increase in
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6. Global Study on Industrial Greases Market, 2015-2021
run time, rise in mechanization, and increasing GDP. In terms of market value, the other
manufacturing segment is expected to expand at a CAGR of 5.6% during the forecast period.
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7. Global Study on Industrial Greases Market, 2015-2021
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