Lube
Lube oils are just one of many fractions, or components, that can be derived from raw petroleum, which emerges from an oil well as a yellow-to-black, flammable, liquid mixture of thousands of hydrocarbons (organic compounds containing only carbon and hydrogen atoms, these occur in all fossil fuels). Petroleum deposits were formed by the decomposition of tiny plants and animals that lived about 400 million years ago. Due to climatic and geographical changes occurring at that time in the Earth's history, the breakdown of these organisms varied from region to region.
Lube oil is a one of the essential elements for operating any kind of machinery on board ship. Lube oil is responsible for lubrication and cooling of the parts which are operating relative to each other, giving rise to frictional and other types of stresses on the machinery. Without the use of lube oil, we cannot imagine any machinery operation on ship.
The global lubricant market is expected to register a CAGR of 2.18% during the forecast period, 2018-2023. One of the major factors driving the growth of the global market is the growing automotive production Asia-Pacific and Europe, especially in countries, such as India, United Kingdom, Italy, France, and Indonesia. Additionally, the growing demand for and usage of high-performance lubricants (owing to their better and improved properties, such as reduced flammability, reduced gear wear, and increased service life), is also driving the growth of the market, as the aforementioned properties, make these lubricants suitable for high temperature applications.
Lubricants are majorly used in the industrial sector for the proper functioning of machines. They are also used in automobile for smooth functioning and longevity of engines and other components. Lubricants are available in liquid, semi-fluid, or solid state, and possess various characteristics, such as, high viscosity index, high level of thermal stability, low freezing point, and high boiling point, all of which help to reduce friction between surfaces of machine parts and the rate of wear, without compromising operational efficiency.
Grease
Grease is a semisolid lubricant. Grease generally consists of a soap emulsified with mineral or vegetable oil. The characteristic feature of greases is that they possess a high initial viscosity, which upon the application of shear, drops to give the effect of an oil-lubricated bearing of approximately the same viscosity as the base oil used in the grease. This change in viscosity is called shear thinning.
Grease is sometimes used to describe lubricating materials that are simply soft solids or high viscosity liquids, but these materials do not exhibit the shear-thinning properties characteristic of the classical grease. For example, petroleum jellies such as Vaseline are not generally classified as greases
The global grease market is expected to grow at a CAGR of 2.13% during the forecast period, 2018 - 2023. The major factors driving the growth of the grease market are the increasing automotive production in Europe and Asia-Pacific along with the booming manufacturing activities in Asia-Pacific region.
Growth of the automotive industry in the emerging markets of Asia-Pacific and Latin America is expected to drive automotive lubricant demand. This market is characterized by the growing demand for engine oils, transmission fluids and hydraulic fluids in both commercial and consumer automobiles. Increasing sales of passenger cars and motorcycles should further strengthen the trend over the forecast period.
