Lithium Grease Market Report 2024

This Lithium Grease market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The lithium grease market size has grown strongly in recent years. It will grow from $3.05 billion in 2023 to $3.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed during the historic period can be attributed to several factors, including the expansion of the automotive industry, increased use of industrial machinery and equipment, growth in the energy sector, rising awareness of the advantages of high-quality lubricants, and the overall expansion of the transportation sector.

The lithium grease market size is expected to see strong growth in the next few years. It will grow to $3.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The projected growth during the forecast period can be attributed to several factors, including the expansion of the agricultural sector, growth in the mining industry, increased demand for specialized lubricants in the aerospace sector, rising production of consumer electronics, and a surge in construction activities worldwide. Key trends expected during this period include innovations in lubricant formulations, the development of eco-friendly formulations, advancements in additive technology, a growing preference for synthetic lithium greases, and the incorporation of nanotechnology into lithium grease formulations.

The growth of the automotive industry is anticipated to drive the expansion of the lithium grease market. This industry involves designing, developing, manufacturing, marketing, and selling automobiles and is currently experiencing growth due to factors such as urbanization, economic development, and infrastructure improvements. Lithium grease plays a crucial role in automotive maintenance by lubricating components, reducing friction and wear, and extending their lifespan. It also offers temperature stability and water resistance, protecting parts from harsh conditions, rust, and corrosion. For instance, Statistics Canada reported in June 2024 that the total number of road motor vehicles registered in Canada in 2022 reached 26.3 million, marking a 0.3% increase from 2021. Hence, the expansion of the automotive industry is contributing to the growth of the lithium grease market.

Leading companies in the lithium grease market are focusing on creating advanced products such as lithium soap-thickened greases to enhance protection under extreme conditions and meet diverse industry needs. Lithium soap-thickened grease is a popular lubricant known for its high-temperature stability, water resistance, and mechanical stability. For example, in May 2024, FUCHS, a lubricant manufacturer based in Germany, introduced the RHEOLUBE 460P series. This series features PAO greases thickened with lithium soap and is free from PFAS, offering a sustainable alternative to traditional fluorinated lubricants. It includes next-generation additives that enhance lubricity, improve efficiency by reducing friction, and perform well in cold environments while maintaining stability and long-term lubrication, particularly for automotive uses.

In July 2024, AMSOIL INC., a US-based fuel industry company, acquired Aerospace Lubricants Inc. for an undisclosed sum. This acquisition aims to expand AMSOIL's grease product range, which is important for various industrial applications. The investment is intended to boost AMSOIL’s operational capabilities and production capacity while enhancing the quality and performance of Aerospace Lubricants' products. Aerospace Lubricants Inc. specializes in lithium soap-thickened synthetic grease.

Major companies operating in the lithium grease market are Exxon Mobil Corporation, China Petroleum & Chemical Corporation, TotalEnergies SE, Chevron Corporation, Phillips 66 Company, Idemitsu Kosan Co. Ltd., Illinois Tool Works Inc., Quaker Chemical Corporation, Valvoline Inc., Petro‐Canada Lubricants Inc., Castrol Limited, WD-40 Company, Lucas Oil Products Inc., Gulf Oil International Ltd., CRC Industries Inc., AMSOIL INC., Penrite Oil Co Pty Ltd., Lubriplate Lubricants Company, Putoline Oil B.V., Sudheimer Car Technik-Vertriebs GmbH, B'laster LLC, Motul India Pvt. Ltd.

Asia-Pacific was the largest region in the lithium grease market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lithium grease market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the lithium grease market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Lithium grease is a versatile lubricant made from mineral or synthetic oil thickened with lithium soap, typically lithium 12-hydroxy stearate. It reduces friction and wear in high-load, high-temperature environments and offers excellent rust and corrosion resistance, making it ideal for use in harsh, moisture-prone conditions.

The main types of lithium grease include general-purpose, automobile-type, and extreme-pressure variants. General-purpose lithium grease is suitable for a wide range of applications, providing effective lubrication and protection for various equipment and machinery under standard operating conditions. The sources of lithium grease can be simple or complex, catering to diverse applications such as building and construction, household use, automotive and transportation, industrial machinery, and more.

The lithium grease market research report is one of a series of new reports that provides lithium grease market statistics, including the lithium grease industry global market size, regional shares, competitors with the lithium grease market share, detailed Lithium grease market segments, market trends, and opportunities, and any further data you may need to thrive in the lithium grease industry. These lithium grease market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The lithium grease market consists of sales of base oil, thickener, additives, and performance enhancers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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