Grease Additives Market was valued at USD 15.2 billion in 2019 and expected to reach USD 19.22 billion by 2027at a CAGR 2.75%.
Grease additives are the chemical materials which are used for performance enhancements of grease while suppressing the unfavorable characteristics. Grease is semi-solid in nature and grease additives are the essential components of grease. Grease additives are classified into various types such as rust/corrosion inhibitors, metal deactivators, extreme pressure additives, viscosity modifiers, anti-wear reagents and others.
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Rise in output of manufacturing industry is expected to boost the global grease additives market growth. Furthermore increase in adoption of advanced machinery which requires highly efficient lubricant is expected to propel the growth of global grease additives market. Moreover, rise in demand for high performing lubricants will have the positive impact on global grease additives market growth. Grease in widely used in marine industry for various applications thus the demand for grease in marine industry which is expected to fuel the global grease additives market. In addition to that, rise in mining exploration activities expected to drive the global grease additives market growth. In other hand, rise in urban population and changing food preferences will propel the growth of global grease additives market.
However, Fluctuation in raw material prices is the major restraining factor which is expected to hamper the global grease additives market growth.
Global Grease Additives Market is segmented into type such as Rust/Corrosion Inhibitors, Metal Deactivators, Extreme Pressure Additives, Anti-wear reagents, Viscosity Modifiers, Temperature Additives, and Others, by formulation base such as Soap based, and Non-soap based. Further, Global Grease Additives Market is segmented into end user such as Automotive, Marine, Mining, Food & Beverage, Aerospace, General Manufacturing, and Others.
Also, Global Grease Additives Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Croda International Plc, King Industries, Inc, Krystal Lubetech Private Limited, Clariant, Innospec, Afton Chemicals, BASF SE, Dorf Ketal Chemicals, and Lubrizol Corporation.
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· Rust/Corrosion Inhibitors
· Metal Deactivators
· Extreme Pressure Additives
· Anti-wear reagents
· Viscosity Modifiers
· Temperature Additives
By Formulation Base
· Non-soap based
By End Use
· Food & Beverage
· General Manufacturing
· North America
· Latin America
· Asia Pacific
· Middle East & Africa
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