Title: Lubricant Packaging Market Update, Analysis, Forecast, 2019 – 2024
1 Lubricant Packaging Market Growth Outlook with
Industry Review and Forecast 2019-2024
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2Global Market Scenario of Lubricant Packaging
Industry
- Plastic held more than 70 of global lubricant
packaging market share on account of its
durability, easy availability and cost
competitiveness in 2016. - In plastic sub-segment, polyethylene held
approximately 40 in 2016 of overall plastic
lubricant packaging market. In metal sub-segment,
aluminum accounted over 60 of industry chunk in
2016. - Aluminum is cost effective, abundantly available
in earth's crust and lightweight making it highly
suitable for applications demanding minimum
packaging weight. - In 2016, kegs drums generated largest revenue
in lubricant packaging market, followed by cans
bottles. Can bottles shall experience surge in
demand in the near future due to its extensive
usage across all key end-users for handling,
storing and transporting lubricants. - Pails are anticipated to grow at around 3 CAGR
during the forecast period owing to rising demand
for compact and small lubricant vessels and
containers. - Process oils shall witness maximum growth in
lubricant packaging market by 2024. Process oils
play a key role in manufacturing polymer
products, which are used in consumer goods,
automotive, medical sector, etc.
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3Continue-
- Process oil observes substantial demand from
escalating rising automobile industry due to its
ability to offer unique traits such as high
saturation point, purity, stability and low
volatility. - Positive growth indicators in automobile and
power generation industry will be primarily
driving lubricant packaging market during the
forecast timeframe. - The global automotive sales in 2005 was roughly
65 million units and reached 93 million units in
2016, this elevation in the automotive sales is
poised to positively influence lubricant
packaging market for the forecast duration. - North America plays an important role in
lubricant packaging market due to technological
upgradations in automobile sector accompanied
with numerous ongoing shale gas exploration in
the U.S. - Oscillating petrochemical price dynamics and land
pollution from plastic packaging products lays
challenge for future lubricant packaging market
players.
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5360 Industry Analysis
- In 2016, Asia Pacific, led by China held largest
share of global lubricants packaging market and
shall hold its position in terms of volume during
the forecast timespan. - Asia Pacific is currently witnessing huge foreign
direct investments from multi-national power
generation and automobile players, which is
anticipated to boost the industrial scenario in
countries including India, Japan, china,
Thailand, Malaysia, Indonesia, etc. - In 2016, Europe followed APAC in global lubricant
packaging market volume. Prevalence of
substantial automobile industry in Germany, the
UK, and France are prime drivers for lubricant
packaging market in the region. - North America will witness significant growth
rate after Asia Pacific by 2024 in lubricant
packaging market owing massive lubricant demand
across industries such as automotive, power
generation and oil gas. -
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6- Competitive Analysis
- Lubricant packaging market share was fairly
consolidated in 2016 with major player holding
50 industry share. Key product manufacturers
include BWAY Corporation, Balmer Lawrie, Grief,
Glenroy, Time Technoplast, Milford Barrel, Mauser
Group, and SCHUTZ.
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