Grease Market growing at a CAGR of 4.1% from 2025 to 2030

The global greases market size was estimated at USD 6.0 billion in 2024 and is projected to reach USD 7.68 billion by 2030, growing at a CAGR of 4.1% from 2025 to 2030. Due to the surging demand for vehicles and spare parts, the increasing demand for automotive grease worldwide is expected to contribute to market growth in the coming years.

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The construction industry is one of the major consumers of the product across the world. This industry uses the product to lubricate and protect the moving parts of heavy construction equipment and machinery, including excavators, bulldozers, cranes, loaders, and dump trucks.

It reduces friction, wear, and corrosion in components such as bearings, gears, bushings, pins, and hydraulic cylinders, thereby extending the lifespan of different equipment and improving their performance. There are three major forms: bio-based, mineral, and synthetic. The product is mainly classified based on the raw material used in manufacturing. Bio-based products include raw materials such as vegetable oil. Vegetable oils such as soybean, rapeseed, sunflower, and palm oil are among the most commonly used feedstocks for bio-based products. Among these, soybean oil is widely utilized for its availability, low cost, and suitable viscosity characteristics for lubricant applications.

Formulation development involves designing the product composition by blending synthetic base oils, thickeners, and additives in specific proportions. The formulation is optimized to achieve the desired viscosity, temperature stability, load-carrying capacity, corrosion protection, and other performance attributes required for the intended application.

The global market is changing in terms of raw materials owing to the rising demand for bio-based products. APAC has emerged as one of the largest product consumers due to the region’s rapidly growing manufacturing, construction, metal & mining industries, and industrial development. The Asia Pacific product market has started mirroring the American and European regulatory systems, and thus, countries like Japan and South Korea are emphasizing eco-labeled products.

The global greases and lubricants industry is governed by stringent regulations, ranging from their production to use & disposal. Furthermore, the additives used in manufacturing grease are checked for their toxicity and potential to harm the environment. Some of the regulatory bodies that influence market dynamics include the Occupational Safety & Health Administration (OSHA), Environmental Protection Agency (EPA), and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) standards.

Market Concentration & Characteristics

The market is moderately fragmented, and players aim to achieve optimum business growth and strong market positioning through production capacity expansions, new product development, and research & development. For instance, in 2024, Shell Lubricants (a subsidiary of Shell plc) finalized the acquisition of MIDEL and MIVOLT, both United Kingdom-based companies, from Manchester’s M&I Materials Ltd. This acquisition marks Shell’s commitment to produce, distribute, and promote the MIDEL and MIVOLT product ranges, enhancing its worldwide lubricants portfolio.

Manufacturers have anticipated a huge gap in product and technology development; thus, they are investing in research & development to add new products to their portfolios and develop better technology for various end-use industries of the product. For instance, in 2024, GB Lubricants introduced its latest innovation, GB Super Universal Tractor Oil 15W-30. This multifunctional oil, designed for farm machinery, is formulated with top-grade virgin mineral base oils and advanced additive systems. It ensures optimal lubrication for various tractor components. In addition, Canoil Canada Ltd. launched different products in 2022-23, including lubricants, greases, and metalworking oils.

Shell plc, Exxon Mobil Corporation, Chevron Corporation, FUCHS, and TotalEnergies, among others, are the key manufacturers operating in the product market. These companies have a stronghold in emerging markets and export their products to various end use applications. Manufacturers are mainly adopting strategies such as partnerships to increase their market footprint. For instance, in 2022, NYCO declared the renewal of its partnership agreement with easyJet, ensuring the continued provision of TURBONYCOIL 600 for the airline’s Airbus A320 CEO and NEO family aircraft fleet.

Grease Market Report Scope

Report Attribute	Details
Market size value in 2025	USD 6,269.2 million
Revenue forecast in 2030	USD 7.68 billion
Growth rate	CAGR of 4.1% from 2025 to 2030
Base year for estimation	2024
Historical data	2018 – 2023
Forecast period	2025 – 2030
Quantitative Units	Volume in kilotons, revenue in USD million/billion, and CAGR from 2025 to 2030
Report coverage	Volume & revenue forecast, competitive landscape, growth factors, and trends
Segments covered	Form, application, region
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope	U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Argentina; Saudi Arabia; South Africa
Key companies profiled	NYCO; Battenfeld-Grease & Oil Corporation of New York; RichardsApex; Inc.; Lubriplate Lubricants Company; GB Lubricants; Canoil Canada Ltd.; Eastern Oil Company; JAX Incorporated; Daubert Chemical Company; D-A Lubricant Company; Xaerus Performance Fluids; Inc.; MorOil Technologies; Royal High-Performance Oil & Greases; Industrial Oils Unlimited; Primrose Oil Company, Inc.; Environmental Lubricants Manufacturing, Inc. (ELM); Cadillac Oil; CONDAT; LUBRITA Europe B.V.; COGELSA Efficient Lubrication; Interflon
Customization scope	Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
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