Market Challenges And Opportunities

Market Restraints

Strict emission rules and regulations related to emissions of harmful gases is expected to hamper the market growth of industrial grease. This is attributed to rising government concerns and efforts in order to reduce global warming. This factor is projected to restrict the market growth of industrial grease.

Limited production of mineral oils coupled with the volatile prices of crude oil is expected to hinder the market growth of the industrial grease over the forecast period.

Market Opportunities

Rising demand for food-grade industrial grease used across food processing equipment is expected to offer numerous growth opportunities to the market of industrial grease. These food-grade greases are used across lubricant bearings, linkages, and moving joints of the equipment used in the food industry. Food grade greases are expected to offer a new opportunity to the market of industrial grease.

Growth in mechanization coupled with the increase in industrial production especially across the Asia Pacific region is expected to augment the market growth over the forecast period. Increasing utilization of grease across the manufacturing sector for enhancing the performance and reliability of machines is further expected to fuel the market growth of industrial grease.

Figure 2. Global Industrial Greases Market– Opportunity Analysis