The scope of our recent study on the “Grease Additives Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The grease additives market was valued at US$ 481.80 million in 2022 and is projected to reach US$ 627.93 million by 2028; it is expected to grow at a CAGR of 4.5% from 2022 to 2028.

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, antiwear 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 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 grease additives market during the forecast period. In addition, growing demand for renewable energy has created lucrative opportunity for the grease additives market. However, stringent government policies may hamper the growth of market during the forecast period.

Impact of COVID-19 Pandemic on Grease Additives Market
The COVID-19 pandemic affected economies and industries in several countries across the globe. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including automotive, construction, aerospace, and mining. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Moreover, the bans imposed by governments of different countries in Europe, Asia Pacific, and North America on international travel compelled companies to discontinue their collaboration and partnership plans temporarily. All these factors hampered various industries in 2020 and early 2021, thereby restraining the growth of multiple markets, including the grease additives market. 

During the initial phase of the COVID-19 pandemic, implementing lockdown restrictions and shutdown of manufacturing units led to a production shortfall, creating a demand and supply gap. These factors hampered the profitability of various small-scale and large-scale grease additives manufacturers. In 2021, several economies resumed operation as governments of various countries announced relaxations in the previously imposed restrictions, which boosted the global marketplace. Manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gap and other repercussions. The growing demand for automobile and industrial machinery post-COVID-19 pandemic has been generating demand for grease additives. 
Global Grease Additives Market Breakdown – by Region

The report includes the segmentation of the global grease additives market as follows:

The global grease additives market, by type, is segmented into oxidation inhibitors, corrosion inhibitors, antiwear agents, pressure additives, metal deactivators, and others. Based on application, the grease additives market is segmented into automotive, aerospace, marine, mining, steel mill, construction machinery, and others. By geography, the global grease additives market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The grease additives market in North America is further segmented into the US, Canada, and Mexico. The grease additives market in Europe is sub segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The grease additives market in Asia Pacific is analysed on the basis of China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and Rest of MEA. The grease additives market in South & Central America is studied on the basis of Brazil, Argentina, and the Rest of South & Central America. 
 

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