iCrowd Newswire
21 Jan 2021, 18:04 GMT+10
Industry Insight
A report by Marker Research Future (MRFR) estimates the Global Lubricant Packaging Market 2020 to rise at a substantial CAGR during the projection period from 2018 to 2023. At this pace, the opportunities in the worldwide Lubricant Packaging market are estimated to swell up with a high valuation that will be happening by the year-end 2023.
Top Impacting Factors
Manufacturers of lubricant packaging industries have been moving towards flexible packaging format in recent time, owing to affordability and convenience this packaging offer. Flexible packaging formats such as stand-up pouches and bag-in-box are gaining more attention from lubricant packaging industries. Augmentin demand for small packs lubricant packaging has resulted in a paradigm shift towards flexible packaging set-up. It also marks in high product to packaging ratio, owing to its portability as compared to rigid plastic oil bottles or another rigid packaging format.
The study also emphasizes that flexible packaging products are much lighter than rigid plastic bottles, and comparatively, it consumes 60% percent less plastic, thereby garnering significant traction in the lubricant packaging space. With this, quite a few end-use industries counting power generation, automotive, oil & gas, and chemical employ various mechanical components such as gearboxes, pumps, turbines, and compressors and more like these. These components require frequent lubrication for smooth functioning. Thus, the growing demand for lubricants from these end-use industries is likely to boost the market for lubricant packaging over the forecast period.
Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/6605
In the same line, the emergent power generation sector, coupled with escalating sales of commercial as well as passenger vehicles, is, in turn, likely to propel the market growth in the coming years. Furthermore, mounting investments, mainly in the oil & gas, chemical, and power generation sector, is also on the verge of anticipating considerable market growth over the forecast period.
Segmentation of Market: Lubricant Packaging
For further analysis of the global lubricant packaging market, segmentation is conducted over the material, packaging type, lubricant, and end-user.
Depending on the material segment, the market has included metal and plastic. Under the material segment, plastic held the largest market share. As plastic is the most preferred material for lubricant packaging, it is low-priced as compared to metals.
Depending on the packaging type segment, the market has included a bottle, stand-up pouch, pail, drum, tube, cans, bag-in-box, keg, and intermediate bulk container. The drum segment leads the market by packaging type and is now expected to expand at the highest CAGR during the conjecture period. Rise in demand for lubricants from industries across the power generation segment and changing consumer preference towards efficient vehicles in the automotive are likely to augment the market growth.
Depending on the lubricant segment, the market has included transmission & hydraulic fluid, engine oil, metalworking fluid, process oil, gear oil, general industrial oil, and grease. Engine oil leads the lubricant segment and is likely to nurture at the highest CAGR during the forecast period. This is due to the rising sales for passenger cars with IC engines.
Depending on the end-user, the market has included metalworking, automotive, power generation, oil & gas, chemicals, machine industry, and others. Automotive leads the end-user segment with heavy consumption of lubricants for cars and other vehicles.
Regional Analysis
Geographically, the lubricant packaging market study is conducted over significant regions of Europe, Asia-Pacific, North America, and the rest of the world.
Asia-Pacific accounted for the largest market share back in 2017. The rapid growth in automobile sales is forceful to the growth of the market in Asia-Pacific in the current time. Moreover, the intensifying oil & gas and automobile sector is anticipated to fuel the market demand. Additionally, continuous investments in the oil & gas sector are also influencing market growth positively. Escalating demand for comfort and purchasing power of consumers will bolster the market growth.
This region is expected to develop at the highest CAGR during the forecast period in support of rapidly emergent industrialization. Countries like China, Japan, India, and Singapore are the major markets in the region. Growing demand for highly durable storage materials such as HDPE plastic is also likely to provide a lucrative opportunity to the active players for market growth.
In the rest of the world, the Middle East, one of the major oil exporters in the world, is likely to donate significantly during the forecast period owing to the existence of oil reserves in the region.
Browse complete report @ https://www.marketresearchfuture.com/reports/lubricant-packaging-market-6605
Top Market Players
The well-known players in the lubricant packaging market include Glenroy, Inc(US), Amcor Limited (Switzerland), Mold Tek Packaging(India), Graham Packaging (US), BAM Packaging (US), Scholle IPN (US), CDF (US), Berry Plastics (US), SCHÜTZ GmbH & Co., KGaA (Germany) and Greif, Inc(US).
Table of Content
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Research Objectives
2.2.2. Assumptions & Limitations
2.3. Market Structure
3.1. Research Process
3.2. Secondary Research
3.3. Primary Research
3.4. Forecast Model
4.1. Porter's Five Forces Analysis
4.1.1. Threat Of New Entrants
4.1.2. Bargaining Power Of Buyers
4.1.3. Threat Of Substitutes
4.1.4. Segment Rivalry
4.2. Value Chain/Supply Chain Of Global Lubricant Packaging Market
5.1. Introduction
5.2. Growth Drivers
5.3. Impact Analysis
5.4. Market Challenges
6.1. Introduction
6.2. Growth Trends
6.3. Impact Analysis
…………………
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Tags: Global Lubricant Packaging, Lubricant Packaging Market Forecast, Lubricant Packaging Market Analysis, Lubricant Packaging Industry, Lubricant Packaging Market, Lubricant Packaging
See Campaign: https://www.marketresearchfuture.com/reports/lubricant-packaging-market-6605Contact Information:Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.comTags:, iCN Internal Distribution, Research Newswire, English
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com
Get a daily dose of Houston Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Houston Mirror.
More InformationSAO PAULO, Brazil: Brazil is taking confident steps to restore its dominance in global poultry exports after declaring its commercial...
NEW YORK, New YorK - U.S. stocks closed mixed on Friday, with gains and losses modest, as investors and traders weighed up the escalation...
WASHINGTON, D.C.: Retail sales dropped sharply in May as consumer spending slowed after a strong start to the year, primarily due to...
WASHINGTON, D.C.: Mitsubishi Motors is the latest automaker to raise prices in the United States, joining a growing list of car companies...
INDIANAPOLIS, Indiana: Eli Lilly is making a bold play in cardiovascular gene therapy, announcing plans to acquire its partner Verve...
BEIJING/WELLINGTON: New Zealand's Prime Minister Christopher Luxon commenced his visit to China on June 17, seeking to strengthen trade...
BUENOS AIRES, Argentina: Since taking office in December 2023, Argentine President Javier Milei has implemented sweeping austerity...
LEMBATA, Indonesia: Indonesia's Mount Lewotobi Laki Laki erupted dramatically on June 18, generating substantial ash and smoke plumes....
MADRID, Spain: A routine oversight by Spain's power grid operator, REE, has been identified as the trigger behind the large-scale blackout...
WASHINGTON, DC - In a bid to defuse speculation, U.S. President Donald Trump says he will make his decision on whether to have the...
WASHINGTON, D.C.: A quiet shift inside the Trump administration has stalled a key diplomatic initiative aimed at pushing Russia toward...
NEW DELHI, India: Indian investigators are examining the black boxes from a Boeing 787 Dreamliner to determine the cause of a catastrophic...