Dublin, July 20, 2022 (GLOBE NEWSWIRE) — The “Lithium Grease Market – Global Outlook and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
Lithium grease is used for lubrication in mechanical systems. The primary purpose of lithium-based lubricants is to reduce friction between moving parts resulting in increased efficiency and output of the system. Grease also minimizes the wear of machine parts, increasing the life of components. Lithium grease accounts for more than 70% of the global grease market.
Lithium grease provides long-lasting protection against oxidation, extreme temperature, and wear & tear.
These lubricants are suitable for various applications ranging from general-purpose to heavy-duty.
The other advantage of lithium-based lubricants is that it minimizes leakage and avoids contaminants.
The lubricants are used in machines that cannot be frequently lubricated.
Glance through the report of more than 232 pages comprising 154 tables and more than 210 exhibits to develop a deep understanding of the market.
Increase in Demand for Automotive in Emerging Economies To Create Lucrative Opportunities.
The automotive industry is one of the significant consumers of lithium grease. Lithium grease is used in various parts, joints of automobiles, and even in chassis & wheel bearing applications. In emerging markets like China, India, Brazil, and Mexico, the demand for automotive increases due to increased population, increased purchasing power, and rising per capita income. In 2021, according to OICA, more than 71 million vehicles were manufactured across the globe, which is a 5 million rise compared to the previous year.
Rise of Automation in Industries is Driving the Growth of Lithium Greases Market.
Automation is the use of equipment and technology to automate production systems or processes to boost efficiency by decreasing manual labor. Automation has two main advantages: boosting production activities and reducing human errors. This keeps operations lean, efficient, and productive. There is an increase in the adoption of automation across different industries to increase production and reduce error and production costs. As automation increases, mechanical parts are constantly under motion and load, which mandates a high lubrication requirement for the system to work efficiently without any breakdown. This increases the demand for lithium grease for lubrication purposes.
Volatility in Price of Raw Material May Impact the Industry
As raw material prices fluctuate, manufacturers find it challenging to maintain the constant cost of lithium grease. In recent years, there has been a shortage in lithium availability due to high demand from the EV industry. There is a sudden increase in demand for lithium, and hence the prices are rising at a high rate. In addition, there is a constant fluctuation in crude oil prices, which impacts the cost of base oil used in production.
Key Questions Answered
1. What is the Estimated Market Size of the Lithium Grease?
2. What is the Growth Rate of the Global Lithium Grease Market?
3. is the Analysis of the Lithium Complex Grease Market Included in the Report?
4. What Are the Key Strategies Focused on by the Lithium Grease Manufacturers?
5. Which Region Will Witness the Fastest Growth in the Global Lithium Grease Market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Premium Insights
7.1 Lithium Grease Market
7.2 Market Synopsis
7.3 Review Segment
8.2 Value Chain
9 Market Opportunities & Trends
9.1 Demand for Automobiles in Emerging Economies
9.2 Innovations in Lithium Grease
10 Market Growth Enablers
10.1 Rise of Automation in Industries
10.2 Demand for Electric Vehicles
10.3 Growth of Construction & Infrastructure Industry
11 Market Restrictions
11.1 Raw Material Price Volatility
11.2 Availability of Low-Cost Substitutes
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Force Analysis
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Single Lithium
13.4 Lithium Complex
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 General Purpose
14.4 Heavy Duty
15 End Use
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Automotive & Transportation
15.4 General Manufacturing
15.5 Building & Construction
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Thickener Type
17.5 End-Use Industry
17.6 Key Countries
20 Latin America
21 Middle East & Africa
22 Competitive Landscape
22.1 Competition Overview
23 Key Company Profiles
23.1 Shell plc
23.2 Phillips 66 Company
23.3 Sinopec Corporation
23.4 Exxon Mobil Corporation
23.5 Total energies
24 Other Prominent Vendors
24.1 Chevron Corporation
24.2 Petronas Lubricants International
24.3 Pt Pertamina Lubricants
24.4 Rosneft Lubricants
24.5 Eneos Corporation
24.7 Hp Lubricants
24.9 Fuchs Lubricants (India) Pvt. ltd.
24.10 Paras Lubricants Limited
24.12 Lucas Oil Products, Inc.
24.13 Gulf Oil Lubricants India Ltd
24.14 Cj Chemicals
24.15 Adolf7 Automotive Industries Pvt. ltd.
24.16 Tide Water Oil Co. (India) Ltd.
24.17 Bp plc
24.18 Joseph Fazzio Inc.
24.19 Idemitsu Kosan Co. Ltd.
24.20 Bharat Petroleum Corporation Limited
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.3 End Use
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