Lubricant Packaging Market Worth Over $15bn by 2024
Published Date: September 15, 2017 Author: Global Market Insights, Inc.
Lubricant Packaging Market size is forecast to exceed USD 15 billion by 2024; according to a new research report by Global Market Insights, Inc.
Lubricant packaging is widely used across all major industries as lubricants are an essential part of many applications. Exponentially growing automobile industry shall positively impact lubricant packaging market size for the forecast duration. Rising disposable income of consumers, especially in Asia Pacific and Latin America, is directly influencing sales of passenger vehicles, which is a positive sign to look out for lubricant packaging market growth in the forecast timespan. North America is also an active market for product manufacturers due to large number of ongoing shale oil/gas reserve exploration projects in the U.S. and technologically evolving automobile sector.
Robust growth in energy and power generation sector will be driving product demand for the forecast duration. The major challenges for future lubricant packaging market size shall be environment pollution caused from plastic clogging & landfills and the fluctuations in raw material prices.
Browse key industry insights spread across 495 pages with 820 market data tables & 17 figures & charts from the report, “Lubricant Packaging Market Size By Material (Plastic [PP, PET, PE, PVC], Metal [Aluminum, Tin, Steel]), By Packaging (Kegs & drums, Cans & bottles, Pails, IBC), By Lubricant (Engine Oils, Transmission & Hydraulic Fluids, Process Oils, Metalworking Fluids, General Industrial Oils), By End-user (Automobile, Metal Fabrication, Oil & Gas, Power Generation, Chemical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Thailand, Brazil, Mexico, South Africa, UAE, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
In 2016, plastic held major share in global lubricant packaging market due to its easy availability, durability and cost effectiveness. Polyethylene held close to 40% of global lubricant packaging market share in the same year. In metal segment, aluminum had the major market share in 2016. It is cost completive and lightweight compared to steel and tin.
In 2016, cans & bottles segment held a major share of global lubricant packaging market. The industry share shall increase in the coming years owing to its widespread usage among end-users for storing and handling lubricants. Kegs & drums also had a prominent market share in 2016. Pails is poised to expand at CAGR, near to 3%, on account of increasing demand for small sized lubricant containers for retail outlets.
In 2016, engine oils led the overall lubricant packaging market. Engine oil is used for I.C engines in trucks, cars, lawnmowers and generators. The increase in automobile sales and after sales service support has substantially influenced engine oils sales in recent times, which is a positive growth indicator for product demand. In end-user segment, for the year 2016, automobile accounted for the largest market share and shall grow at more than 3% CAGR in the forecast timeframe.
Asia Pacific for lubricants packaging market is likely to witness gains close to 3.5% during the forecast timeframe. It is due to the developing economic conditions, which have substantially propelled chemical, manufacturing and automobile industry growth in countries especially India, China, Japan and Indonesia. Asia Pacific, in terms of volume and value, shall remain the global lubricant packaging market leader during the forecast period.
North America followed Asia Pacific in terms of growth expected by 2024 for lubricant packaging market and had a noticeable business share in 2016. Shale oil/gas reserves refining sites and advancing automobile industry are two major end-users in the U.S., which are likely to fuel product demand in this region. Latin America shall witness growth, close to 2%, by 2024. This can be attributed to its developing chemical industry and rising demand for passenger vehicles.
In 2016, The lubricant packaging market was consolidated. Major product manufacturers including Balmer & Lawrie, Glenroy, Grief Inc., Time Technoplast, Mauser Group B.V, Milford Barrel, SCHÜTZ GmbH & Co., KGaA and BWAY Corporation accounted for more than 50% of industry share.
Lubricant packaging research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in thousand units and revenue in USD thousand from 2013 to 2024, for the following segments:
Lubricant Packaging market by material
- Polyethylene (PE)
- Polyethylene terephthalate (PET)
- Poly vinyl chloride (PVC)
- Polypropylene (PP)
Lubricant Packaging market by packaging type
- Kegs & drums
- Cans & bottles
- Intermediate bulk packaging (IBC)
Lubricant Packaging market by lubricant
- Engine oils
- Transmission & hydraulic fluids
- Process oils
- Metalworking fluids
- General industrial oils
Lubricant Packaging market by end-user
- Metal fabrication
- Oil & gas
- Power generation
- Chemical industry
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa