The Europe Grease Additives Market is expected to grow from US$ 97.04 million in 2022 to US$ 127.78 million by 2028. It is estimated to grow at a CAGR of 4.7% from 2022 to 2028.
Based on type, the Europe Grease Additives Market is segmented into oxidation inhibitors, corrosion inhibitors, anti-wear agents, pressure additives, metal deactivators, and others. The oxidation inhibitors segment held a larger share of the Europe Grease Additives Market in 2022.
Based on application, the Europe Grease Additives Market is segmented into automotive, aerospace, marine, mining, steel mill, construction machinery, and others. The automotive segment held the largest share of the Europe Grease Additives Market in 2022.
Based on country, the Europe Grease Additives Market is segmented int o the Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the share of the Europe Grease Additives Market in 2022.
Afton Chemical Corp; BASF SE; Clariant AG; Croda International plc; Evonik Industries AG; Shamrock Technologies Inc; The Lubrizol Corp; Lanxess AG; and IPAC Inc.
Increase in wind turbine installations fuel the Europe Grease Additives Market
The renewable energy industry, a subsegment of the power sector, is emerging as a prominent consumer of industrial greases. Grease is primarily used in turbines and transformers in this industry. In recent years, the increasing demand for renewable energy has led to an upsurge in wind turbine installations worldwide. The IEA states that 830 GW of wind capacity was installed globally as of 2021, of which 93% were onshore systems while 7% were offshore wind farms. Countries across the world are taking initiatives to increase their renewable energy capacities through wind turbine installations. With several new wind installations, the demand for lubricants such as greases has increased worldwide. Wind turbine lubricants contribute to the reliability of wind farms by ensuring streamlined operations and maintenance. Lubrication is essential at various points in a wind turbine; these include the gearbox, open gear, pitch gear, and pitch bearing. Wind power industry use grease additives such as pressure additives, corrosion inhibitors, and oxidation inhibitors to ensure the enhanced performance. Thus, the rising demand for greases in the wind power industry is likely to favor the growth of the Europe Grease Additives Market in the coming years.Europe Grease Additives Market Overview
Grease additives are used in manufacturing greases to enhance the properties of grease, to suppress some undesirable properties and possibly to impart some new properties in the greases. Corrosion inhibitors, oxidation inhibitors, pressure additives, anti-wear agents and others are some types of grease additives used to enhance the properties of grease in end use industries. The major factors driving the growth of the Europe Grease Additives Market are the strong growth in various end use industries and increasing production of grease globally. Growing automotive industry and rising construction activities in developing economies are expected to surge the growth of Europe Grease Additives Market during the forecast period. in addition, growing demand for renewable energy has created lucrative opportunity for the Europe Grease Additives Market. However, stringent government policies may hamper the growth of market during the forecast period.Europe Grease Additives Market Revenue and Forecast to 2028 (US$ Million)
Europe Grease Additives Market Segmentation
The Europe Grease Additives Market is segmented into type, application, and country.Based on type, the Europe Grease Additives Market is segmented into oxidation inhibitors, corrosion inhibitors, anti-wear agents, pressure additives, metal deactivators, and others. The oxidation inhibitors segment held a larger share of the Europe Grease Additives Market in 2022.
Based on application, the Europe Grease Additives Market is segmented into automotive, aerospace, marine, mining, steel mill, construction machinery, and others. The automotive segment held the largest share of the Europe Grease Additives Market in 2022.
Based on country, the Europe Grease Additives Market is segmented int o the Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the share of the Europe Grease Additives Market in 2022.
Afton Chemical Corp; BASF SE; Clariant AG; Croda International plc; Evonik Industries AG; Shamrock Technologies Inc; The Lubrizol Corp; Lanxess AG; and IPAC Inc.
Table of Contents
1. Introduction
3. Research Methodology
4. Europe Grease Additives Market Landscape
5. Europe Grease Additives Market - Key Market Dynamics
6. Grease Additives - Europe Market Analysis
7. Europe Grease Additives Market Analysis - By Type
8. Europe Grease Additives Market Analysis - By Application
9. Europe Grease Additives Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figure
Companies Mentioned
- Afton Chemical Corp
- BASF SE
- Clariant AG
- Croda International plc
- Evonik Industries AG
- Shamrock Technologies Inc
- The Lubrizol Corp
- Lanxess AG
- IPAC Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 167 |
| Published | August 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 97.04 million |
| Forecasted Market Value ( USD | $ 127.78 million |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 9 |
