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.
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Application Insights
Perfluorocarbon based products are suitable for aerospace applications to provide lubrication for critical components that work in high temperatures and pressures typically ranging from -70°C to 399°C. Components in aircrafts are exposed to extreme shock, heat and pressure and hence they require products whose lubricity and viscosity is unaffected by such harsh environments. Typical aerospace applications require lubricants that are also compatible for use with elastomers, plastics and paints.
In automotive applications, hydrocarbon based grease is applied for lubrication of O-rings, bearings, valves, suction cups, conveyors, lifting systems and gripping systems. Large number of players producing vacuum solutions for automotive industry are emerging particularly in Asia Pacific region as it is rapidly growing in India and China which is anticipated to boost the growth of the market.
Competitive Insights
The market is fragmented, with the global and domestic players competing on the basis of prices and product expansion. Established players including Dow Corning Corporation, Solvay S.A and The Chemours Company compete in terms of innovation, pricing and new product development abilities. The companies provide high performance, quality, regulatory compliant and application specific products with customized solutions in terms of services. Global players such as Dow Corning Corporation cater to their domestic market while catering to the demand across all the other regions globally.
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