Grease Cartridges Market - Developing Economies Poised to Create Significant Growth
Grease Cartridges Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026
[UKPRwire, Wed Oct 10 2018] Growing preference for lubricating grease in automotive and mining industry helps in the growth of the grease cartridges market. Cartridges reduce human efforts while applying grease for machinery parts. Consumers are moving towards convenient products for lubricating. Manufacturers come up with various innovations lubricant packaging solutions out of which is plastic cartridges which are expected to witness a shift in demand from fiberboard cartridges.
The increasing applications of grease cartridges in after-sales services, especially in automobile and mining industries, have created lucrative opportunities for manufacturers worldwide. The automotive sector accounts for more than 50% of the total lubricants market across the globe. Increasing automobile production lifts the need for lubricants on a large scale. Apart from consumer preference, another important factor which is expected to play a crucial role in driving the growth of the greases market is the widespread range of industrial applications.
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Grease cartridges reduce efforts employed in manually applying lubrication grease on anti-friction bearings, vehicle chassis, and automotive intersections. In addition, grease cartridges made up of plastic are getting traction as it gives better leakage protection as compared to fiberboard grease cartridges.
On the basis of capacity, grease cartridges market is segmented into 3oz, 14oz, 14.1oz and 14.5oz. Among these, 14oz grease cartridges segment accounts for the largest market share in the global grease cartridges market.
Based on material type, grease cartridges market is segmented as up to plastic and fiberboard. While plastic segment is further sub-segmented into HDPE and PP.
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Plastic is expected to dominate the market during the forecast period.
By the closure type, the grease cartridges market is segmented into pull-off cap, piston cap, flat cap, and spouted cap. Research indicates that the pull-off cap segment will continue to dominate the market for global grease cartridges through 2026.
Constant technological developments have led to augmentation in grease quality, and to a large extent, is influenced by the global impulsion for the use of bio-based products. The same has had a direct impact on the growth of the grease cartridges market. In developed countries such as the USA, Canada, and countries of Europe region, thereby contributing significantly to the growth of the global grease cartridges market.
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The APAC region is estimated to account for the largest share in grease cartridges market due to increasing need for lubricants for automobile industry in this region. The MEA region is estimated to contribute small but rapidly growing market share in grease cartridges market. Growth in grease cartridges market in Latin America region is expected to be moderate during the forecast period.