The grease market is extremely fragmented, with a total capacity increase of approximately 6.25 million tons in 2022. At present, the overall trend of the market is stable, and the market demand is bound to grow further. In the future, the lubricating grease market will have obvious aggregation phenomenon. The following is an analysis of the lubricating grease industry market.
The 2022-2027 China synthetic grease industry market demand and investment consulting report pointed out that the bidding volume of various lubricants in 2022 has dropped sharply since January, and the decline of each product is about 25-45%. The sum of the data from January to May shows that hydraulic oil decreased by 18% year-on-year, Gear Oil decreased by 25% year-on-year, other industrial oils decreased by 45% year-on-year, grease decreased by 45% year-on-year, and antifreeze increased by 162% year-on-year.
In the composition of lubricating grease, Base Oil determines the basic properties of lubricating grease, and additives are used to make up and improve the deficiencies in the performance of base oil. Lubricating oil manufacturing is in the middle of the industry chain, and the market changes of base oils and additives used as raw materials in the upstream will affect the production cost of the lubricating grease industry. Now from the three major market data to analyze the grease industry market.
While the growth of market demand is slowing down, the newly invested base oil production units and lubricating oil blending units in China will be put into operation one after another in recent years, which will lead to intensified competition among enterprises. Since 2016, my country has become the world's largest grease producer and consumer. By 2021, China's grease market will reach about 121.4 billion yuan.
Greases are a class of petroleum products, nonvolatile oily lubricants. According to their sources, greases are divided into three categories: animal and vegetable oils, petroleum greases and synthetic greases. Among them, the amount of petroleum grease accounts for more than 97% of all greases, so usually greases refer to petroleum greases. It is mainly used to reduce the friction between the surfaces of moving parts, and at the same time, it has the functions of cooling, sealing, anti-corrosion, anti-rust, insulation, power transmission, and cleaning impurities for machinery and equipment.
After years of rapid growth, China's economy has become the world's second largest economy and the engine of global economic growth. With the rapid development of my country's economy, the continuous acceleration of the industrialization process and the continuous growth of car ownership, my country has become the world's largest grease consumer and producer, and the proportion of annual demand to total global grease demand has increased from 2017. 10.15% in 2020 to 22.6% in 2022.
The brand of grease products will be further integrated. In 2022, production enterprises will be the core of modern grease management, breaking the communication barriers between various links under the traditional model. There should be more optimistic expectations for the future domestic grease consumption demand, and "not being able to sell" is not a reason to give up purchasing at a fair price.
