High Temperature Grease & Lubricants Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
- Transparency Market Research
High temperature grease & lubricants are substances employed in industrial bearing applications running at extreme temperatures ranging from 100oC to 1800oC. They are used to reduce the friction between two moving surfaces, causing reduced levels of wear and tear. The bearings therefore become equipped with better longevity, reduced downtime, energy conservation, and extended lubrication cycles. High temperature grease and lubricants provide their metal surfaces with maximum protection in severe operating conditions such as high shock loading, vibration, and extreme pressure. Furthermore, these lubricants possess excellent rust and oxidation inhibiting properties, good water resistance, and high thermal & mechanical stability, besides adhesive properties which prevent them from pounding out, washing out, or splattering out in stark operating circumstances. High temperature grease and lubricants are utilized in various industries such as steel, mining, and marine, as well as in commercial vehicles and passenger vehicles in the automotive sector.
In terms of thickener formulation, the high temperature grease & lubricants market could be divided into the soap-based and non-soap-based categories. The former is expected to dominate the market during the forecast period primarily due to their high operational temperature range, improved oxidative stability, and extensive usage in the industrial and automotive sectors. Soap-based high temperature grease and lubricants are further classified into the lithium complex, aluminum complex, and calcium sulfonate varieties. Lithium complex-based grease and lubricants, widely used in steel plants and in the mining and engineering industries, are manufactured from extremely refined base oils with a high viscosity index. They offer advanced thermal degradation limits and exhibit excellent water tolerance and mechanical stability. Non-soap-based high temperature grease and lubricants are split into the polyurea, clay, and silica segments. They are prepared from either inorganic or organic thickeners.
The rising demand for automobiles in emerging economies is one of the major factors driving the high temperature grease & lubricants market. The increasing requirement for soap-based lithium complex as well as production of machines and equipment in end-use industries also contributes to this market’s expansion, while fuelling the need for these lubricants. Rapid industrialization and growth in trade provide immense opportunities for industries manufacturing them.
Based on region, the global high temperature grease & lubricants market is distributed over Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific is anticipated to be the market leader during the forecast period, followed by Europe and North America. This is primarily ascribed to the speedy industrialization in countries such as China and India, which propels the demand for high quality grease and lubricants. The increasing amount of disposable income of citizens of Asia Pacific boosting the demand for automobiles is another instrumental cause. North America and Europe are projected to be dominant regions in terms of car manufacturing which leads to a surge in the number of commercial and passenger vehicles in these regions. Furthermore, the automobile market in Europe is progressing quickly toward the adoption of high temperature grease and lubricants. Manufacturers are entering into partnerships to develop products that meet the specific needs of various industrial applications.
Key players operating in the global high temperature grease & lubricants market include Royal Dutch Shell Plc, Exxon Mobil Corporation, Sinopec Limited, Total S.A., BP Plc, Chevron Corporation, and Fuchs Petrolub AG.
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- Market segments and sub-segments
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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- Reporting and evaluation of recent industry developments
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