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.
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.
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.
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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.
Top Players of Vacuum Grease Market:
Key players including Dow Corning Corporation, M&I Materials Ltd., Castrol Limited, The Chemours Company dominated the global market with significant market presence.
Market Segmentation of Vacuum Grease Market:
The Global Vacuum Grease Market segmented on the basis of Type, Application, and Region.
By Type:
Silicone Vacuum Grease
Fluorocarbon Vacuum Grease
Hydrocarbon Vacuum Grease
By Application:
Food processing
Laboratory equipment
Automotive & Aerospace
Pharmaceutical
By Region:
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
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