Global Industrial Greases Market: Mainly Driven by Increasing Manufacturing Activity in Developing Regions and Rise in Automotive Sales

NEW YORK, June 17, 2016 /PRNewswire/ --

Global Market Study on Industrial Greases: On Road Vehicle Segment to Dominate the Consumption by 2021, PMR Report

According to a new market report published by Persistence Market Research, titled "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.  

To View Sample Report: http://www.persistencemarketresearch.com/samples/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.

To View and Download TOC: http://www.persistencemarketresearch.com/market-research/industrial-greases-market/toc

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.

Some of the market players featured in this report include: 

• Belray Company LLC
• Texaco Inc
• Exxon Mobil Corporation
• Whitmore Manufacturing Company
• Axel Christiernsson International AB
• Dow Corning Corporation
• Sinopec Lubricant Company
• Royal Dutch Shell plc
• Other.

Browse the full Global Market Study on Industrial Greases: On-Road Vehicle Segment to Dominate the Consumption by 2021 report at http://www.persistencemarketresearch.com/market-research/industrial-greases-market.asp

To buy full report: http://www.persistencemarketresearch.com/checkout/4588

About Us: 

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com
LinkedIn: https://www.linkedin.com/company/persistence-market-research-&-consulting
Twitter: https://twitter.com/persistence_mkt
Journalist Resources: media@persistencemarketresearch.com

Contact
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
United States
USA - Canada Toll-Free: 800-961-0353