INDUSTRIAL GREASES MARKET ANALYSIS

Industrial Greases Market, By Type of Base Oil (Mineral Oil-Based Greases, Synthetic Oil-Based Greases, Bio-Based Greases, and Others), By Thickener Type (Lithium-Based Greases, Calcium-Based Greases, Polyurea Greases, Complex Soap Greases, and Others), By End-use Industry (Automotive & Transportation, Construction and Mining Equipment, Steel and Metal Processing, Food and Beverage Industry, Marine and Aerospace, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Feb 2025
Code : CMI3852
Pages :130
Formats :
Excel and PDF
Industry : Advanced Materials

Market Challenge - Stringent environmental regulations

One of the major challenges of the market is facing is stringent environmental regulations across various regions. For example, the European Union has implemented several directives in the October, 2024 that set limits on the concentration of hazardous substances in greases. The Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) regulation mandates grease manufacturers to register chemicals and assess and control risks from them.

Market Opportunity - Growth in wind energy sector

One of the key opportunities for this market is expected to come from the rapidly expanding wind energy sector. As different countries aggressively try to increase the share of renewable sources in their energy mix, investments in wind power projects are growing massively. For instance, according to the Energy Monitor data reported in July 2024, the Chinese government aims to have over 200 GW of onshore wind capacity installed by the end of 2025.