Marine Grease Market to Record an Exponential CAGR by 2020

Posted by shahir on November 9th, 2017

Marine grease is a jelly or semisolid lubricant derived from minerals, soap or bio-based materials with added chemicals that make it hydrophobic. Marine grease has high viscosity index, high thermal resistance and hence does not oxidize easily. Marine greases are useful to machinery that can only be lubricated rarely and wherever lubricating oil would not dwell in position such as heavy loaded sliding and rolling motion found in marine application. It acts as sealants to avoid entrance of water. Grease-lubricated bearings possess superior frictional characteristics owing to their high viscosity index. 

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Based on the technology of manufacturing, marine grease can be classified as mixture of mineral oil and solid materials, heavy, asphaltic type oil blended with lighter oils, extreme pressure grease, roll-neck grease, soap-thickened mineral oil and multipurpose grease. Further these can be broadly categorized in soap based marine grease, mineral based marine grease and bio-based or vegetable oil based marine grease.

The various application of marine grease is found in winches, seacock, deck gear, blocks, bearings, wire rope protection and folding propellers. Europe is the largest market for marine grease attributed to their high dependency on waterways, followed by North America and Asia Pacific. With growing economy and growing trade through waterways the marine grease market in Asia Pacific is growing at high pace and expected to grow further during forecasted period.  The bio-based or vegetable oil and mineral based marine grease segments are expected to experience the highest growth rate in Europe and North America due to the government regulatory involved with aquatic environment in these region. Emerging economies of Brazil, Chile and South Africa are expected to drive the growth in rest of the world (RoW) segment.