Global Grease Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Thickener Type (Metallic Soap, Non-Soap Thickener, Others), By Industry Vertical (Automotive, Construction, Metallrugy, Mining, Energy & Power, Food & Beverage, Manufacturing), And By Geography - Forecasts From 2022 To 2027

The global grease market is projected to grow at a CAGR of 2.02% during the forecast period, reaching USD 4,298.093 million by 2030 from USD 3,899.954 million in 2025. 

Grease is a semi-solid lubricant that prevents corrosion, strain, and wear on vessels, machinery, automobiles, and their parts. It comprises additives that improve performance, as well as lubricating fluids and thickeners. It's made from rendered fat from waste animal parts, inedible lard, and synthetic oil, or it might be petroleum-based. The market is expected to increase due to factors such as the increasing manufacturing sector, rapid industrialization, and the increasing acceptance of better performance greases in the power and electric vehicle industries. In addition, the market is expected to increase due to the implementation of various government efforts to encourage the use of bio-based grease and rising product demand in the industrial sector.

What are the Global Grease Market Drivers?

• The growing demand from the automotive and manufacturing sectors.

The global grease market is mostly fueled by demand from the automobile industry. During the projection period, the rising OEM and RMO markets in the automobile industry are likely to directly influence grease consumption. Moreover, increasing government initiatives and investments in the automotive industry will also boost the demand for the global grease market in the coming years. For instance, in March 2022, LG Energy Solution and automaker Stellantis partnered to create Windsor's first large-scale electric vehicle (EV) battery production factory, with backing from the Ontario, federal, and municipal governments. The partnership between LG Energy Solution, Ltd. (LGES) and Stellantis N.V. will fund more than CDN $5 billion (USD 4.1 billion) in Windsor to develop a factory to produce batteries for electric vehicles, which will be the province's biggest auto manufacturing project. 

Similarly, the PLI Scheme announced by the Indian Government for growing the automotive sector is anticipated to positively influence the market in the projected period. For instance, the Union Cabinet approved the PLI-Auto Scheme in September 2021, with a budgetary outlay of Rupee 25,938 crore for 5 years (FY2022-23 to FY2026-27). The PLI-AUTO Scheme will boost the manufacturing of Advanced Automotive Technology (AAT) Products. This scheme will also help facilitate and promote deep localization for AAT products and enable the creation of domestic and global supply chains.

Furthermore, the growing manufacturing industry worldwide will also propel demand for grease in the market. For example, as per the data by the Federal Reserve, in February 2022, manufacturing production in the United States increased 7.4% year over year, the largest annual growth in seven months. Similarly, according to the Federal Statistical Office, manufacturing production in Germany increased by 0.22 percent in January 2022 compared to the same month the previous year.

• Increased development by key players is also expected to propel growth in the grease market.

Grease firms are making significant investments to supply the growing demand for grease. For instance, Rhenus Lub GmbH & Co. KG launched a highly resistant and durable grease in June 2020, potentially lowering long-term overall machine costs by drastically reducing the re-lubrication interval time. It was created for use in several difficult situations, including electric motors, casting facilities, steelworks, and hot-gas ventilators. Furthermore, major product launches by significant companies will also aid in expanding the grease market during the projected timeframe.

Geographical Outlooks of the Global Grease Market:

• During the projected period, Asia Pacific is expected to hold a significant proportion of the global grease market.

Increased growth in the automotive and manufacturing industries in this region, particularly India and China, is anticipated to be a major factor for the market growth during the forecast period. According to the China Association of Automobile Manufacturers (CAAM), car sales in the country are expected to increase by 5.4 percent to 27.5 million in 2022. 

Similarly, according to OCIA, International Organization of Motor Vehicle Manufacturers, in 2022, in the US, 1,751,736 units were made, a 10% rise compared to that recorded in 2021, where the figure was 1,563,060 units. Such an elevated rise in the automobile production lines indicates enhanced consumption of key parts used like grease, which is indispensable to avoid friction and upgrade efficiency with durability in the constituents. With the automotive industry further recovering and expanding, the rising output of passenger cars and electric and hybrid vehicle innovation is expected to raise the demand for high-performance grease formulations. The growth is also supported by the focus on durability, efficiency, and sustainability, making grease an essential product in automotive and other end-use industries in the coming years.

Key Developments in the Global Grease Market:

• In August 2024, Maxol Lubricants, part of The Maxol Group, launched a new Maxol Agri-Max Plus Grease range. This new line of greases is designed to address the changing needs of the farmer today. The product launch is supported by a packaging revamp of the existing range of products, with more sustainable packaging, making it an all-around better option for customers. The newly introduced Maxol Agri-Max Plus grease range is a modern advancement in lubricant technology. These products cater to the specific needs of various industries, including agriculture, organic farming, marine, and forestry. The range is ideal for lubricating plain bearings, wire ropes, chains, rails, and geared applications across various equipment, even in challenging operating conditions where temperatures are not excessively high.
• In March 2024, Shell Indonesia ('Shell') announced plans to build its first grease manufacturing plant (GMP) in Indonesia. The new plant will complement Shell's existing Marunda Lubricants Oil Blending Plant (LOBP) in Bekasi, Indonesia. When completed, Shell's new GMP in Indonesia will have the capacity to produce up to 12 kilotonnes of grease per year, helping meet the growing demand for premium grease products in the country.
• In February 2024, Chevron launched its newly refreshed line of products by adding a new overbased calcium sulfonate complex grease known as Rykon®. This high-performance grease is increasing uptime and helping enhance durability for the next generation of equipment. With its unique formulation, Rykon will round out Chevron's grease offering with grease formulated for heavy-duty and extreme-pressure applications. This calcium sulfonate complex-based grease further offers a lithium-based alternative to thickeners, which have become increasingly expensive due to growing global demand.

The Global Grease market is segmented and analyzed as follows:

• By Thickener Type
  • Metallic Soap
  • Non-Soap Thickener
  • Others
• By Industrial Vertical
  • Automotive
  • Construction
  • Metallurgy
  • Mining
  • Energy & Power
  • Food & Beverage
  • Manufacturing
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Supplier

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL GREASE MARKET BY THICKENER TYPE

5.1. Introduction

5.2. Metallic Soap

5.3. Non-Soap Thickener

5.4. Others

6. GLOBAL GREASE MARKET BY INDUSTRY VERTICAL

6.1. Introduction

6.2. Automotive

6.3. Construction

6.4. Metallurgy

6.5. Mining

6.6. Energy & Power

6.7. Food & Beverage

6.8. Manufacturing

7. GLOBAL GREASE MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. France

7.4.3. United Kingdom

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. Israel

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. South Korea

7.6.4. India

7.6.5. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Axel Christiernsson

9.2. BECHEM Lubrication Technology LLC

9.3. Chevron Corporation

9.4. Exxon Mobil Corporation

9.5. Gazpromneft - Lubricants Ltd

9.6. Kluber Lubrication

9.7. DuPont de Nemours, Inc.

9.8. Penrite Oil

9.9. Schaeffer Manufacturing Co.

9.10. Petroliam Nasional Berhad (PETRONAS)

Axel Christiernsson

BECHEM Lubrication Technology LLC

Chevron Corporation

Exxon Mobil Corporation

Gazpromneft - Lubricants Ltd

Kluber Lubrication

DuPont de Nemours, Inc.

Penrite Oil

Schaeffer Manufacturing Co.

Petroliam Nasional Berhad (PETRONAS)