Global Study on Industrial Greases Market, 2015-2021
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 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. Request Customize Full TOC: http://www.persistencemarketresearch.com/toc/4588 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. Persistence Market Research 2 Global Study on Industrial Greases Market, 2015-2021 Request Sample Report: http://www.persistencemarketresearch.com/samples/4588 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. View Detail Report: http://www.persistencemarketresearch.com/marketresearch/industrial-greases-market.asp 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 Persistence Market Research 3 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 View Related Reports: Acoustic Insulation Material Market: http://www.persistencemarketresearch.com/market-research/acousticinsulation-material-market.asp Barium Titanate Market: http://www.persistencemarketresearch.com/market-research/bariumtitanate-market.asp 1,4 Butanediol Market: http://www.persistencemarketresearch.com/market-research/14-butanediolmarket.asp Sludge Treatment Chemicals Market: http://www.persistencemarketresearch.com/market-research/sludgetreatment-chemicals-market.asp 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 Persistence Market Research 4 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 Persistence Market Research 5 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. About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs. Contact Us: Addie Thomes 305 Broadway 7th Floor, New York City, Persistence Market Research 6 Global Study on Industrial Greases Market, 2015-2021 NY 10007, United States, USA - Canada Toll Free: 800-961-0353 Email: [email protected] Web: http://www.persistencemarketresearch.com Persistence Market Research 7
© Copyright 2024