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Global Grease Market 2019-2023 | 2% CAGR Projection Through 2023 | Technavio

December 17, 2019 GMT
Global Grease Market 2019-2023 | 2% CAGR Projection Through 2023 | Technavio
Global Grease Market 2019-2023 | 2% CAGR Projection Through 2023 | Technavio

LONDON--(BUSINESS WIRE)--Dec 17, 2019--

The global grease market is expected to post a CAGR of more than 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global grease market 2019-2023. (Graphic: Business Wire)

The marine industry is one of the largest end-users of grease. Factors such as increasing production of ships and rising number of repair and maintenance activities are driving the demand for grease in the shipbuilding business. The growing number of vessels that operate in harsh weather conditions has also increased the demand for grease in the marine industry. In addition, the proliferation of shipbuilding hubs in countries such as Vietnam, the Philippines, and India is boosting the growth of shipbuilding business. This is positively impacting the growth of the global grease market.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30264

As per Technavio, new plants in the grease market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Grease Market: Establishment of New Plants

Vendors in the market are making significant investments to expand their production capacities to cater to the growing demand for grease from diverse applications. For instance, in 2018, Shell International opened its new lubricants and grease plant in Singapore with an annual production capacity of 390 kilotons of lubricants and grease together. Many such expansion plants by key vendors are expected to boost the growth of the global grease market during the forecast period.

“Rising popularity of bio-based grease and the increasing consumption of motor oil will further boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Grease Market: Segmentation Analysis

This market report segments the global grease market by end-user (automotive, construction and off-highway, general manufacturing, steel, and others) and geography (Americas, APAC, and EMEA).

The APAC region led the market in 2018, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the growing use of grease as demulsifying and emulsifying agents for rust prevention, and as a corrosion inhibitor in industrial applications.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendor Analysis

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200





SOURCE: Technavio Research

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PUB: 12/17/2019 12:00 PM/DISC: 12/17/2019 12:01 PM