Market Size of Grease Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 2.62 Billion liters |
| Market Volume (2029) | 3.08 Billion liters |
| CAGR (2024 - 2029) | 3.38 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Grease Market Analysis
The Grease Market size is estimated at 2.62 Billion liters in 2024, and is expected to reach 3.08 Billion liters by 2029, growing at a CAGR of 3.38% during the forecast period (2024-2029).
- The major grease-consuming industries, like automotive, industrial processing (majorly steel mills), aerospace, and food and beverage, were greatly impacted by COVID-19. The pandemic led to severe supply chain disruptions, which in turn dampened the trade volumes between many countries.
- In the short term, factors such as the growing industrial sector in Asia-Pacific and increasing adoption of higher-performance greases in the wind power and electric vehicle industries are likely to drive market growth.
- Environmental regulations across countries concerning the usage of grease are likely to slow down the market.
- Technological advancements and product innovations, and the growing usage of polyurea greases are the opportunities that are likely to drive the market in the future.
