High temperature grease & lubricants are substances employed in industrial bearing applications running at extreme temperatures ranging from 100oC to 1800oC. They are used to reduce the friction between two moving surfaces, causing reduced levels of wear and tear. The bearings therefore become equipped with better longevity, reduced downtime, energy conservation, and extended lubrication cycles. High temperature grease and lubricants provide their metal surfaces with maximum protection in severe operating conditions such as high shock loading, vibration, and extreme pressure. Furthermore, these lubricants possess excellent rust and oxidation inhibiting properties, good water resistance, and high thermal & mechanical stability, besides adhesive properties which prevent them from pounding out, washing out, or splattering out in stark operating circumstances. High temperature grease and lubricants are utilized in various industries such as steel, mining, and marine, as well as in commercial vehicles and passenger vehicles in the automotive sector.
In terms of thickener formulation, the high temperature grease & lubricants market could be divided into the soap-based and non-soap-based categories. The former is expected to dominate the market during the forecast period primarily due to their high operational temperature range, improved oxidative stability, and extensive usage in the industrial and automotive sectors. Soap-based high temperature grease and lubricants are further classified into the lithium complex, aluminum complex, and calcium sulfonate varieties. Lithium complex-based grease and lubricants, widely used in steel plants and in the mining and engineering industries, are manufactured from extremely refined base oils with a high viscosity index. They offer advanced thermal degradation limits and exhibit excellent water tolerance and mechanical stability. Non-soap-based high temperature grease and lubricants are split into the polyurea, clay, and silica segments. They are prepared from either inorganic or organic thickeners.
The rising demand for automobiles in emerging economies is one of the major factors driving the high temperature grease & lubricants market. The increasing requirement for soap-based lithium complex as well as production of machines and equipment in end-use industries also contributes to this market’s expansion, while fuelling the need for these lubricants. Rapid industrialization and growth in trade provide immense opportunities for industries manufacturing them.
Based on region, the global high temperature grease & lubricants market is distributed over Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific is anticipated to be the market leader during the forecast period, followed by Europe and North America. This is primarily ascribed to the speedy industrialization in countries such as China and India, which propels the demand for high quality grease and lubricants. The increasing amount of disposable income of citizens of Asia Pacific boosting the demand for automobiles is another instrumental cause. North America and Europe are projected to be dominant regions in terms of car manufacturing which leads to a surge in the number of commercial and passenger vehicles in these regions. Furthermore, the automobile market in Europe is progressing quickly toward the adoption of high temperature grease and lubricants. Manufacturers are entering into partnerships to develop products that meet the specific needs of various industrial applications.
Key players operating in the global high temperature grease & lubricants market include Royal Dutch Shell Plc, Exxon Mobil Corporation, Sinopec Limited, Total S.A., BP Plc, Chevron Corporation, and Fuchs Petrolub AG.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.