Grease Market worth $7.4 billion by 2029

The report “Grease Market by Base Oil (Mineral, Synthetic, Bio-based), Thickener Type (Metallic Soap, Non-soap, Inorganic), End-Use Industry (Automotive, Construction, General Manufacturing, Agriculture, Mining, Power Generation) – Global Forecast to 2029″, size is estimated to be USD 6.2 billion in 2024 and is projected to reach USD 7.4 billion by 2029, at a CAGR of 3.6%, between 2024 and 2029. The market is projected to grow because of the evolving lifestyle across globe. The increasing emphasis on equipment reliability, efficiency, and longevity is leading industries to invest in high-quality lubricants like grease to minimize downtime and maintenance costs. Furthermore, stringent regulations and standards regarding equipment maintenance and environmental protection are pushing industries to adopt greases that offer superior performance and environmental sustainability. Lastly, advancements in grease formulations and technologies, such as synthetic and bio-based greases, are also driving market growth by offering enhanced performance characteristics and meeting the evolving needs of various applications. Collectively, these factors are contributing to the robust demand for grease in the global market.