A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Automotive
Grease Market.
The study, titled “Automotive
Grease Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Automotive
grease helps diminish friction and wear, provide corrosion
protection, seal bearings from contaminants and water, repel leakage,
resist change in consistency or structure during service, maintain
flexibility under conditions of application, and repel or tolerate
moisture. The consistency or hardness of the grease is measured by a
penetrometer, which consists of a cone of specific weight and size
dropped into the grease for five seconds. The color of the grease is
determined by thickener, base oil, dye, and additive. Grease can be
of any color to suit a particular application, environment, or
identification purposes. The ability of any particular grease to be
handled by grease dispensers, grease pumps, and other components in
an automated greasing system depends on the viscosity of the grease.
Depending on the application of grease, different base oils and
thickeners can be used.
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Growth
in the automotive industry is anticipated to boost the demand for
automotive grease. Additionally, increase in demand for automobiles
in emerging economies in Asia Pacific and Latin America is estimated
to further propel the demand for automotive grease. However, strict
environmental regulations, fluctuation in prices of raw materials,
and weak demand in Europe and North America are projected to hamper
market growth.
The
shelf life of grease is affected by the amount and type of thickener
used, consistency of the grease, formulation complexity, and
manufacturing method employed. Generally, lithium complex, straight
lithium, and calcium complex greases remain stable for an extended
time. Barium and bentone greases tend to soften upon aging. Based on
these, the shelf life of most Penrite greases is about seven years.
However, semi-fluid grease and steering box lubricant have just two
years of shelf life.
Asia
Pacific is projected to be the key region of the automotive grease
market, followed by North America and Europe, during the forecast
period. India and China are the major markets in Asia Pacific due to
the presence of an established automotive industry. Singapore,
Republic of Korea, Vietnam, and Malaysia are expected to be other
prominent consumers of automotive grease in Asia Pacific. The
automotive grease market in Europe and North America is projected to
experience moderate to high growth rate during the forecast period.
The automotive grease market in Latin America is also likely to
expand at a rapid pace due to the increase in number of cars in
emerging economies in the region. Argentina and Brazil are estimated
to be major consumers of automotive grease in Latin America.
The
automotive grease market is dominated by large and medium material
and chemical corporations. Key players operating in the automotive
grease market include Harrison Manufacturing Co. PTY Ltd, Balmer
Lawrie & Co. Ltd., Axel Americas LLC, Bel-Ray Company, LLC, IKV
lubricants, Chemtool Incorporated, Citgo Petroleum Corporation, Hexol
International Ltd., Indian Oil Corporation Ltd., Lubri-Lab Inc,
Lubrita.Com, Luke Oil Co Inc, Marathon Petroleum Corporation, Penrite
Oil Company, and Phillips 66.
Companies
are adopting the merger and strategic acquisition strategy to expand
their market share. Penrite Oil, a major player in the automotive
grease market, offers a wide product portfolio. The company offers
greases for various applications, ranging from trailer bearings and
wheels to assembly components. It is one of the few companies that
provides greases for veteran, classic, and vintage vehicles. IKV
Lubricants provides greases made by mineral oil, including silicone
and fluorinated greases, for usage in extreme temperature and
pressure. The company uses the latest synthetic technology to
manufacture automotive greases that can withstand high temperatures.
Request
to view Sample Report:
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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