The global industrial greases market is estimated to be valued at USD 4.73 Bn in 2024, exhibiting a CAGR of 3.2% over the forecast period (2024-2031). Industrial greases play a crucial role in various industries such as automotive, construction, energy, and manufacturing, among others by reducing friction between surfaces and carrying away heat and debris.

Market Dynamics

The key drivers fueling the global industrial greases market include rapid growth of end-use industries such as construction, mining, automotive, and others. Rapid urbanization and infrastructure development projects worldwide have boosted demand from the construction industry. Moreover, increasing mechanization in agriculture as well as the mining industry has also contributed to the market growth. Development of bio-based and environment-friendly greases providing better protection and performance is opening new opportunities. However, availability of substitutes such as solid lubricants and advent of electric vehicles are likely to restrain the market growth to a certain extent. Stringent regulations regarding the usage of certain chemical additives are a major challenge. They help in improving the efficiency of machines as well as increasing their lifespan. Factors such as rapid industrialization and urbanization across developing regions of the world have been driving the demand for industrial greases substantially.

Key Features of the Study

- This report provides in-depth analysis of the global industrial greases market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global industrial greases market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Shell plc, ExxonMobil Corporation (Mobil), Chevron Corporation, BP plc (Castrol), TotalEnergies SE, Fuchs Petrolub SE, Petro-Canada Lubricants Inc. (HollyFrontier), Klüber Lubrication (Freudenberg Group), Sinopec Limited, Idemitsu Kosan Co., Ltd., Indian Oil Corporation Ltd. (Servo), and Phillips 66 Lubricants

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global industrial greases market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global industrial greases market

Market Segmentation

•  Type of Base Oil Insights (Revenue, USD Bn, 2019 - 2031)
• • Mineral Oil-Based Greases
  • Synthetic Oil-Based Greases
  • Bio-Based Greases
  • Others
•  Thickener Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Lithium-Based Greases
  • Calcium-Based Greases
  • Polyurea Greases
  • Complex Soap Greases
  • Others
•  End-use Industry Insights (Revenue, USD Bn, 2019 - 2031)
• • Automotive & Transportation
  • Construction and Mining Equipment
  • Steel and Metal Processing
  • Food and Beverage Industry
  • Marine and Aerospace
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Shell plc
  • ExxonMobil Corporation (Mobil)
  • Chevron Corporation
  • BP plc (Castrol)
  • TotalEnergies SE
  • Fuchs Petrolub SE
  • Petro-Canada Lubricants Inc. (HollyFrontier)
  • Klüber Lubrication (Freudenberg Group)
  • Sinopec Limited
  • Idemitsu Kosan Co., Ltd.
  • Indian Oil Corporation Ltd. (Servo)
  • Phillips 66 Lubricants