Lithium Grease Market: Overview
Lithium grease, also known as lithium soap and white lithium, is a soap that is a lithium derivative. These soaps are primarily used as components of various lubricant greases. Majority of the lubricating greases are made of an oil and a soap. Grease is made by dispersing soap into the oil to form a stable, viscous gel-like substrate called grease. Lithium soap based grease adheres specifically well to metal. It is non-corrosive. It is for suitable for uses under heavy load applications such as industrial machinery. These greases also exhibit good temperature tolerance. They possess drip temperature of 190°C to 220°C. Lithium grease also resists moisture. Thus, it is a preferred choice of grease for household products such as electric garage doors. It can also be used in automotive applications such as CV joints. These greases can be modified by different additives such as PTFE and molybdenum disulfide for better performance under high loads and higher temperature resistance.
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Lithium Grease Market: Trends & Demands
The demand for lithium grease is increasing in automotive applications due to the increase in the overall vehicles sales in the developing country. This is encouraging companies to invest more in research & development activities to develop new and better ways to manufacture lithium grease. This, in turn, is anticipated to drive the lithium grease market in the next few years.
Companies operating in the global lithium grease market strive to explore new and better ways to manufacture lithium grease. Development of new processes to produce lithium grease is estimated to propel the market in the next few years. However, volatility in prices of raw materials is projected to hamper the lithium grease market during the forecast period.
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Lithium Grease Market: Key Segments
Based on application, the global lithium grease market can be segmented into building & construction, household, automotive & transportation, industrial machinery, marine, mining, and others. The automotive & transportation segment is projected to expand at a significant pace during the forecast period due to the consistent use of lithium grease to manufacture automotive parts across the globe.
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