The Low-Temperature Grease Market Size was valued at USD 1.19 billion in 2023. The Low-Temperature Grease industry is projected to grow from USD 1.22 Billion in 2024 to USD 1.55 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3% during the forecast period (2024 - 2032). The growing demand for reliable lubrication solutions in the automotive and aerospace sectors, coupled with the increasing sophistication of machinery and equipment operating in diverse environments, is expected to be a significant market driver for the Low-Temperature Grease Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Low-Temperature Grease is being driven by the increasing demand for automobiles in developing economies. In the automotive sector, the significance of low-temperature grease cannot be overstated, it plays a crucial role in ensuring optimal performance in cold climates and during winter startup conditions. Global new car registrations for the entire year of 2021 amounted to 66.2 million units. In South America, car demand experienced a modest 1.8% increase, with nearly 2.8 million units sold. Meanwhile, China witnessed a notable 7.6% year-on-year surge in demand, totaling 21.7 million cars sold, reflecting some adjustment from previously accelerated demand. The aerospace industry, with its high-altitude and cold environmental challenges, also necessitates specialized lubricants, particularly for aircraft. In the United States, the Department of Defense's budget authority for FY 2022 stands at approximately USD 722 billion, marking a USD 17 billion increase from the USD 705 billion recorded in 2020. Looking ahead, the FY 2023 President's budget request proposes USD 773 billion for the Department of Defense.
In an era where machinery and equipment exhibit increasing sophistication and operate in diverse environments, the reliability of lubricants, including low-temperature grease, emerges as a critical consideration for manufacturers and end-users alike.
As a result, it is anticipated that throughout the projection period, demand for the Low-Temperature Grease Market will increase due to the increasing demand for automobiles in developing economies. Thus, driving the Low Temperature Grease Market revenue.
The global Low Temperature Grease Market segmentation, based on Type includes Mineral Base Oil, Synthetic Base Oil, and Biological Basis Oil. The mineral base oil segment dominated the market, accounting for 58% of market revenue (XX Billion). Mineral base oils enjoy global abundance and widespread availability, factors that significantly bolster their popularity in diverse industrial formulations, including the production of low-temperature greases. With a longstanding history of use in lubricants, including greases, mineral-based oils benefit from an established technological foundation and widespread familiarity with their formulations. This legacy contributes to their sustained adoption, particularly in applications where their performance attributes align seamlessly with specific requirements.
Figure 1: Low-Temperature Grease Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The global Low Temperature Grease Market segmentation, based on Application includes Cars, Engineering Machinery, Electric Valves, Distributor, Motor, and Others. The cars segment dominated the market, accounting for 58% of market revenue (XX Billion). Vehicles, particularly automobiles, frequently operate in varied climatic conditions, and in regions characterized by cold winters, the efficacy of lubricants, encompassing greases, becomes paramount. Low-temperature greases are strategically formulated to uphold their performance in cold weather scenarios, guaranteeing seamless operation and safeguarding automotive components. The demand for these specialized greases is particularly accentuated during winter months, crucially addressing the challenges posed by colder temperatures. This is especially critical for components such as wheel bearings, chassis parts, and other moving elements susceptible to freezing conditions, highlighting the strategic importance of low-temperature lubrication solutions in maintaining operational efficiency and component protection.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Low-Temperature Grease market in North America can be attributed to several key factors. The aerospace sector in North America, characterized by its substantial presence, necessitates lubrication solutions engineered to endure low temperatures. Statistics from the Bureau of Transportation reveal a noteworthy surge, with U.S. airlines transporting 674 million passengers in 2021, reflecting an 82.5% increase from the preceding year. Furthermore, the Stockholm International Peace Research Institute notes a 2.9% uptick in the U.S. military expenditure in 2021, reaching USD 801 billion, solidifying its position as the world's largest defense spending nation, contributing to 38% of global spending. Within this context, low-temperature greases play a pivotal role in guaranteeing the optimal functionality of aircraft components, particularly during critical phases such as takeoff and landing in colder climates.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: LOW-TEMPERATURE GREASE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Low-Temperature Grease Market accounts for the second-largest market share as the aerospace sector in Europe, distinguished by its prominence, places a premium on lubrication solutions engineered to endure low temperatures. In 2021, the collective military spending in Europe reached USD 418 billion, marking a 3.0% increase from 2020 and a notable 19% rise since 2012. Central and Western Europe, encompassing the majority of NATO allies and all European Union member states, contributed significantly to this total, with aggregated military spending totaling USD 342 billion last year (USD 305 billion for Western Europe and USD 36.6 billion for Central Europe). Situated in this strategic landscape are major aerospace manufacturers and operators, wherein the utilization of low-temperature greases is indispensable for ensuring the steadfast performance of aircraft components, particularly during critical phases such as takeoff and landing in colder climates. This underscores the business-critical role of specialized lubrication solutions in the European aerospace industry. Further, the German Low-Temperature Grease Market held the largest market share, and the UK Low-Temperature Grease Market was the fastest-growing market in the European region
The Asia-Pacific Low-Temperature Grease Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific region serves as a pivotal center for the manufacturing of consumer electronics, and India, in particular, contributes significantly to this sector. In FY23, the domestic production of electronics in India reached a substantial value of $101 billion. Segmenting this production based on FY22 data reveals a diversified landscape, with Mobile Phones accounting for 43%, IT Hardware at 5%, Consumer Electronics at 12%, Strategic Electronics at 5%, Industrial Electronics at 12%, Wearables & Hearables at 0.3%, PCBA at 0.7%, Auto Electronics at 8%, LED Lighting at 3%, and Electronic Components at 11%. Within this dynamic electronic manufacturing environment, the production of electronic devices necessitates the utilization of machinery and components, demanding effective lubrication solutions, particularly in low-temperature environments. Moreover, China’s Low-Temperature Grease Market held the largest market share, and the Indian Low-Temperature Grease Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Low-Temperature Grease market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Low-Temperature Grease industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Low-Temperature Grease industry to benefit clients and increase the market sector. In recent years, the Low-Temperature Grease industry has offered some of the most significant advantages to the manufacturing and operational sectors, ensuring optimal equipment performance, longevity, and reliability in cold environmental conditions. Major players in the Low-Temperature Grease Market, including ADDINOL Lube Oil, DowDupont, Klaber Lubrication, OKS Spezialschmierstoffe GmbH, ROCOL, Setral Chemie GmbH, Total Lubricants USA, UNIL LUBRICANTS, Eurol are attempting to increase market demand by investing in research and development operations.
With a legacy spanning over 80 years, ADDINOL has been a pioneer in the development and production of high-performance lubricants at its German headquarters. The core competency lies in the creation of cutting-edge products and innovations through an in-house R&D department. The expertise of ENOL's chemists and engineers directly influences the functionality and efficiency of lubricated components, establishing the brand as a leader in high-performance lubricants that deliver added value to customers. Through enduring partnerships with renowned machine manufacturers and a close connection to practical lubricant requirements, ENOL has emerged as a leading provider of high-performance lubricants. Offering a portfolio of over 650 different products, ENOL stands poised to provide efficient solutions for a wide range of automotive and industrial applications.
Klüber Lubrication stands as a premier global manufacturer of specialty lubricants, delivering top-tier tribological solutions across diverse industries and markets worldwide. The majority of our products are meticulously developed and tailored to meet specific customer requirements. With over 80 years of industry presence, Klüber Lubrication has consistently provided high-quality lubricants, comprehensive consultation, and extensive services, establishing an exceptional reputation in the market. Holding all major industrial certifications, we operate a state-of-the-art test bay that sets us apart in the lubricants industry. Originating as a retail company for mineral oil products in Munich in 1929, Klüber Lubrication is now a key entity within Freudenberg Chemical Specialties KG, a Business Unit of the Freudenberg Group based in Weinheim. Our global footprint spans over 30 countries, boasting approximately 2,000 employees dedicated to delivering excellence.
October 2022: In October 2022, TotalEnergies SE and Valeo unveiled a collaborative agreement aimed at pioneering an innovative approach to cool electric vehicle batteries. The method involves the utilization of a cutting-edge high-performance dielectric liquid. This groundbreaking innovation not only enhances the efficiency of electric vehicles but also contributes to a reduction in carbon footprint.
January 2021: In January 2021, Shell plc announced a strategic joint venture with Whitmore Manufacturing, bringing together diverse industry expertise, advanced equipment technologies, comprehensive services, and an integrated product portfolio encompassing a wide range of lubricants. This collaborative initiative is tailored to address the distinctive requirements of businesses operating in North America.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1.19 billion |
| Market Size 2024 | USD 1.22 billion |
| Market Size 2032 | USD 1.55 billion |
| Compound Annual Growth Rate (CAGR) | 3% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ADDINOL Lube Oil, DowDupont, Klaber Lubrication, OKS Spezialschmierstoffe GmbH, ROCOL, Setral Chemie GmbH, Total Lubricants USA, UNIL LUBRICANTS, Euro |
| Key Market Opportunities | · Increasing Demand from the Marine Industry |
| Key Market Dynamics | · The increasing demand for automobiles in developing economies |
Low-Temperature Grease Market Highlights:
Frequently Asked Questions (FAQ) :
The Low-Temperature Grease Market size was valued at Significant Value in 2023.
The global Low Temperature Grease Market is projected to grow at a CAGR of 3% during the forecast period 2024-2032.
North America had the largest share of the global market
The key players in the market are ADDINOL Lube Oil, DowDupont, Klaber Lubrication, OKS Spezialschmierstoffe GmbH, ROCOL, Setral Chemie GmbH, Total Lubricants USA, UNIL LUBRICANTS, Eurol.
The Mineral Base Oil segment dominated the market in 2023.
The Cars segment had the largest share in the global market.
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