The Europe grease market size is expected to register a significant CAGR of over 1% during the forecast period, 2021–2028. The growth of the market is attributed to environmental and health concerns about brominated and other flame retardants.
Grease is a solid or semisolid lubricant made from a liquid lubricant thickened using thickening additives. Grease is often made up of a soap that has been emulsified with mineral or vegetable oil. Grease has a high initial viscosity, which lowers when shear is applied, giving the effect of an oil-lubricated bearing with about the same viscosity as the base. Grease is occasionally used to describe lubricating materials that are merely soft solids or liquids with a high viscosity, although these compounds lack the shear-thinning characteristics of traditional grease. They also serve as sealants to keep water and incompressible materials out. The use of high-quality grease is also cost-effective since it decreases the frequency with which grease must be replaced.
Market Trends, Drivers, Restraints, and Opportunities
- Improvements in grease quality are estimated to propel the market during the forecast period.
- Increasing automation in many industries is key factor fueling the market in coming years.
- Disruptions from the electric vehicle market is projected to hinder the market growth.
- Inadequacy of hydroxides for high-temperature applications acts as major factor that can impede the market in coming years.
- Increasing demand for polyurea greases is estimated to create lucrative opportunities for the market players.
Key Players
- Axel Chritiernsson International AB
- Lubrita
- FUCHS
- Royal Dutch Shell
- Lukoil
Competitive Landscape
Key players competing in the Europe grease market include Axel Chritiernsson International AB, Lubrita, FUCHS, Royal Dutch Shell, and Lukoil.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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