The high-temperature grease and lubricants global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
High-Temperature Grease And Lubricants Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The high-temperature grease and lubricants market size has grown strongly in recent years. It will grow from $25.28 billion in 2023 to $26.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increasing industrial activities, growing environmental awareness and regulations, expansion in the automotive industry, increasing regulatory standards for lubricants, and rising demand for greases that can withstand aggressive chemicals.
The high-temperature grease and lubricants market size is expected to see strong growth in the next few years. It will grow to $34.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to growing higher investments in research and development, growth in the development and use of synthetic lubricants, emphasis on ensuring the safety and reliability of lubricants, efforts to streamline supply chains, and increasing manufacturing activity. Major trends in the forecast period include development of advanced synthetic lubricants, continued innovation in lubricant formulations and additive technologies, development of environmentally friendly lubricants, use of digital technologies and IoT for monitoring and optimizing lubricant performance in real-time, technological advancements in product formulations.
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Scope Of High-Temperature Grease And Lubricants Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
High-Temperature Grease And Lubricants Market Overview
Market Drivers –
The growing manufacturing activity is expected to propel the growth of the high-temperature grease and lubricant market going forward. Manufacturing activity is the process of transforming raw materials into final goods using machines, tools, and a workforce. Manufacturing activity is growing due to several factors, such as demand for consumer goods, supply chain integration, government policies and incentives, and sustainability. High-temperature grease and lubricants reduce friction and wear in harsh environments, boosting mechanical efficiency and durability. They also avoid overheating, minimize downtime, and help to provide a safer, more reliable manufacturing environment. For instance, in July 2024, according to the Office for National Statistics, a UK-based government department, in 2022, the total value of product sales by UK manufacturers reached £429.8 billion ($469.34 billion), marking a £28.4 billion ($31.01 billion) increase from £401.5 billion ($438.43 billion) in 2021, which represents a 7% rise. Therefore, the growing manufacturing activity is driving the growth of the high-temperature grease and lubricant market.
Market Trends –
Major companies in the high-temperature grease and lubricant market are focused on developing advanced products such as multi-purpose lithium grease to ensure reliability under extreme conditions and meet the demand for high-efficiency lubrication solutions in various industrial applications. Multi-purpose lithium grease is a versatile and commonly used lubricant composed of lithium soap and several base oils. It is known for its excellent thermal stability, water resistance, and mechanical stability and is suitable for automotive applications. For instance, in July 2024, Rexco Lubricants, an Indonesia-based provider of various lubricant products, launched Rexco 82 and Rexco 60. Rexco 82 is designed to quickly clean braking systems, nuts, bolts, and machine spare parts without causing combustion, increasing component longevity. Rexco 60 is a high-temp multi-purpose lithium grease designed to lubricate vehicle parts such as joints, shafts, and bearings while withstanding extreme operating conditions and temperatures. It sticks effectively to metal surfaces, providing long-lasting lubrication that decreases friction and wear. Furthermore, it protects parts from water and dirt, avoiding corrosion and maintaining performance while reducing heat generation during vehicle operation, ensuring smooth operation and component longevity.
The high-temperature grease and lubricants market covered in this report is segmented –
1) By Type: Soap Thickener, Non-Soap Thickener
2) By Distribution Channel: Direct, Indirect
3) By Application: Automotive, Building, Chemical Industry, Other Applications
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Regional Insights –
North America was the largest region in the high-temperature grease and lubricants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high-temperature grease and lubricants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the high-temperature grease and lubricants market are Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Shell plc, TotalEnergies SE, BP Plc, Chevron Corporation, ENEOS Holdings Inc., DuPont de Nemours Inc., Fuchs SE, Quaker Chemical Corporation, Valvoline Inc., Kluber Lubrication India Pvt Ltd., PETRONAS Lubricants International, Castrol Limited, Gulf Oil International Ltd., Nye Lubricants Inc., Rocol, Lubrication Engineers Inc., Bel-Ray Company Llc, ADDINOL Lube Oil GmbH, Prolong Super Lubricants< /b>
Table of Contents
1. Executive Summary
2. High-Temperature Grease And Lubricants Market Report Structure
3. High-Temperature Grease And Lubricants Market Trends And Strategies
4. High-Temperature Grease And Lubricants Market – Macro Economic Scenario
5. High-Temperature Grease And Lubricants Market Size And Growth
…..
27. High-Temperature Grease And Lubricants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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