The global vacuum grease market is expected to reach USD 155.9
million by 2025, growing at a CAGR of 6.0%, according to a new report by Grand
View Research, Inc. Increasing use of high precision machines operating under
vacuum environments is leading the demand for vacuum grease to provide
lubrication in high temperature and pressure environments. Also, its demand is
rising owing to its wide acceptance as a safe sealant among industries such as
food processing, automotive and aerospace.
Vacuum grease, available
in various variants depending on the base oil used, such as silicone based,
hydrocarbon based, and fluorocarbon, is largely used as a sealant of O-rings,
bearings, valves in vacuum environments. Europe and North America, were
estimated as the dominant regions comprising a maximum share of the market in
2016. The growth in these regions are led by Germany and U.S. respectively.
Germany, one of the largest exporter of food processing equipment, was
estimated to be the largest consumer.
In terms of revenue, the
global vacuum grease market in 2016 was driven by its applications in
laboratory, food processing, automotive, and aerospace industries. In 2016,
Europe and North America, emerged as the largest regional segments owing to the
rapid investment and focus on research activities in academic, health care, and
industrial sectors.
The demand is expected
to witness significant growth in Asia Pacific region owing to the demand from
end use industries such as manufacturing and aviation. Also in 2016, fluorocarbon
based type was estimated to comprise the largest market share in terms of
revenue. Food processing industry in Asia Pacific region is growing at a rapid
pace, providing lucrative opportunities for the new entrants in this region.
However, the presence of large number of unorganized manufacturers is expected
to slow down the anticipated expansion of the key manufacturers to certain
extent.
Access Research Report of Vacuum Grease Market@ https://www.grandviewresearch.com/industry-analysis/vacuum-grease-market
Further key findings from the report suggest:
· Fluorocarbon based grease was estimated to
possess maximum market share in terms of value in 2016 attributed by its
ability to attain high profit margin for the manufacturers catering to the
aerospace industry.
· Automotive & aerospace industry emerged
as the largest application segment in terms of revenue in 2016 and is estimated
to reach USD 46.44 million by 2025. Increase in the investment and production
capacities of automotive industries in Asia Pacific and Europe regions is
expected to boost the growth over the years ahead.
· The U.S. market in terms of revenue was
valued USD 24.95 million in 2016 and is estimated to reach USD 40.95 million by
2025. The market in Asia Pacific is projected to witness substantial growth in
aerospace, manufacturing and food processing industries in China and India.
Also, Asia Pacific regions is expected witness fastest growth over the forecast
period.
· Key players including Dow Corning
Corporation, M&I Materials Ltd., Castrol Limited, The Chemours Company
dominated the global market with significant market presence.
Grand View Research has
segmented the global vacuum grease market on the basis of type, application,
and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
·
Silicone vacuum grease
·
Fluorocarbon vacuum grease
·
Hydrocarbon vacuum grease
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
·
Food processing
·
Laboratory equipment
·
Automotive & Aerospace
·
Pharmaceutical
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
