Hydraulic grease is semi-solid lubricating oil, comprised of emulsified soap with vegetable oil or mineral oil. It is used for the lubrication in several machines to reduce the wear & tear from sustained use of such machinery.It reduces noise and power consumption. It has the capability of remaining in contact with moving surface and in the process greasing it without suffering from leakages due to centrifugal forces, gravity or other kinds of pressure. It possesses characteristic feature for instance high initial viscosity, which make it frictional. It is used by various end user industries such as general manufacturing, automotive, mining, construction, railways, and others. It is widely used in automotive industry in the production or maintenance of automobiles.
According to study, “Global Hydraulic Grease Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global hydraulic grease market are Royal Dutch Shell Plc., Total S.A., Chevron Corporation, ExxonMobil Chemical Company, Petrochina Company, Idemitsu Kosan Co., Ltd., JX Nippon Oil & Energy Corporation, Fuchs Petrolub AG, Sinopec Limited, Parent Petroleum, Henkel, The DOW Chemical Company. Key vendors are making significant investments to increase their production capacities to cater to the rising demand for grease from diverse applications.
Based on type, hydraulic grease market is bifurcated into low temperature hydraulic grease and high temperature hydraulic grease. Based on thickener type, market is bifurcated into metallic soap thickener, non-soap thickener and inorganic thickener. Metallic soap thickener includes aluminum, calcium lithium, sodium and others. Non-soap thickener includes polyuria. Additionally, inorganic thickener includes silica and clay. Metallic soap thickener segment holds major share in market owing to its high operational temperature range and improved oxidative stability. In addition, based on end-use industry, market is bifurcated into general manufacturing, automotive (passenger vehicle and commercial vehicle), mining, steel, construction & off-highways and others.
The hydraulic grease market is driven by rapidly developing industrial sector in emerging economies, followed by rise in number of repair & maintenance activities, increase in number of vessels that operate in harsh weather conditions, quality of industrial grease, rise in use of hydraulic grease as demulsifying & emulsifying agents for rust prevention, and as an erosion inhibitor in industrial applications, increase in production of ships and growth in automotive industry. However, low-quality & cheaper product offerings and stringent environmental regulations may impact the market. Moreover, rise in trend towards the usage of bio-based grease and growth in technological advancements leading to introduction of efficient grease is key opportunities for market.
Based on geography, the North-American and European regions hold major share in hydraulic grease market owing to well-established automobile industries in the regions. Whereas, the Asian-Pacific region is estimated to exhibit substantial growth rate due to increase in participation of foreign direct investors and growth in infrastructure over the forecast period. In near future, it is anticipated that the market will be reached at rapid pace as a result of growth in industrialization & urbanization during the forecast period.
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Ankur Gupta, Head Marketing & Communications