ID: MRFR/PNT/5142-HCR | February 2021 | Region: Global | 100 pages
Lubricant packaging market is projected to register a moderate 3% CAGR in the forecast period.
Lubricant packaging is used to store the lubricants for a specific amount of time. Lubricants when packaged can retain their properties for a prescribed amount of time hence lubricant packaging is widely used and its market is slowly gaining pace. A major factor influencing the growth of lubricant packaging market is the increasing demand for convenient storage and packaging. Also, increasing demand for passenger cars with IC engines is expected to drive market growth.
The prominent players in the lubricant packaging market include Amcor Limited (Switzerland), Glenroy,Inc(US), Graham Packaging (US), Mold Tek Packaging(India), Scholle IPN (US), BAM Packaging (US), Berry Plastics (US), CDF (US), Greif, Inc(US), SCHÜTZ GmbH & Co., KGaA (Germany) and among others.
For the purpose of analysis, the global lubricant packaging market has been divided on the basis of five segments namely material, packaging type, lubricant, end user, and region. On the basis of material, the market has been segmented as metal and plastic. Under the material segment, plastic accounts for the largest market share. Plastic is the most preferred material for lubricant packaging as it is inexpensive as compared to metals and offers strength and durability for lubricant storage.
On the basis of packaging type, the market has been segmented as stand-up pouch, bottle, drum, pail, can, tube, keg, bag-in-box, intermediate bulk container. The drum segment dominates the market on the basis of packaging type and is expected to grow at the highest CAGR during the forecast period. Rise in demand for lubricants from industries across the power generation segment and shifting consumer preference towards efficient vehicles in the automotive segment are likely to increase the market growth. Moreover, growing demand for lubricants in the chemical industry is expected to increase the market growth.
On the basis of lubricant, the market has been segmented into engine oil, transmission & hydraulic fluid, process oil, metalworking fluid, general industrial oil, gear oil, and grease. Engine oil dominates the lubricants segment and is expected to grow at the highest CAGR during the forecast period due to the increasing sales for passenger cars with IC engines. Also, the increasing industrial automation has led to the adoption of various equipment which requires industrial and process oils which are expected to further fuel the growth of the market.
On the basis of end user, the market has been segmented into automotive, metalworking, oil & gas, power generation, machine industry, chemicals, and others. Automotive dominates the end-user segment owing to heavy consumption of lubricants for cars and other vehicles.
Global Lubricant Packaging Market Segmentation
Source: MRFR Analysis
Geographically, the lubricant packaging market has been divided into four major regions namely North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific has accounted for the largest market share in 2017 followed by North America and Europe. The rapid growth in automobile sales is driving the growth of the market in Asia-Pacific. Moreover, the expanding oil & gas and automobile sector is anticipated to fuel the market demand. Additionally, sustained investments in the oil & gas sector are also influencing the market growth positively. Increasing demand for comfort and purchasing power of consumers will bolster the market growth.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Rapidly growing industrialization in the region driving the demand of the market. China, Japan, India, and Singapore are the major markets in the region. Growing demand for long durable storage materials such as HDPE plastic is also expected 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 expected to contribute significantly during the forecast period due to the presence of oil reserves in the region.
The report for global lubricant packaging market of market research future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||3% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Packaging Type, Lubricant, and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amcor Limited (Switzerland), Glenroy,Inc(US), Graham Packaging (US), Mold Tek Packaging(India), Scholle IPN (US), BAM Packaging (US), Berry Plastics (US), CDF (US), Greif, Inc(US), SCHÜTZ GmbH & Co., KGaA (Germany)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global lubricant packaging market is recorded a substantial market valuation by 2023.
The global lubricant packaging market is projected to register a moderate 3% CAGR in the forecast period.
The plastic segment is slated to expand as the fastest-growing segment.
The bottle segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global lubricant packaging market are Glenroy,Inc(US), Amcor Limited (Switzerland), Mold Tek Packaging (India), Graham Packaging (US), among others.