Lubricant Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2018–2026
Global Lubricant Packaging Market: Overview
Lubricants packaging is extensively used across various industries, such as automobiles, energy and power, etc. The rise in disposable income of consumers is positively influencing the passenger vehicles' sales—particularly SUV cars—which, in turn, is contributing to the expansion of the global lubricant packaging market. This is boosting the need for lubricants, both solid and liquid forms, on a huge scale.
Global Lubricant Packaging Market: Growth Factors
The major growth driver in the global lubricant packaging market is the growing demand for lubricants needed for offering the after-sales service by the automobile industry. The rise in the sale of automobiles in the BRICS nations, due to rise in the disposable income, is also fuelling the expansion of the global lubricants packaging market. Developing countries, like China and India, produce vehicles in large numbers, which, in turn, is creating the demand for lubricants and thus for lubricants packaging.
Growing competition in the lubricants packaging market has reduced the profit margin of the manufacturers that is impacting their sales and price fluctuation of raw materials, among other factors, is hindering the growth of the lubricants packaging market.
Global Lubricant Packaging Market: Segmentation
The global lubricant packaging market can be divided based on material type, lubricant, packaging, and end-users. On the basis of material type, the lubricant packaging market can be segmented into metal (steel and tin) and plastic, among others. The plastic segment can be further sub-divided into polyethylene, polyvinyl chloride (PVC), polyamide (PA), polypropylene (PP), and polystyrene (PS). Based on lubricant, the lubricant packaging market can be categorized into engine oil, gear oil, general industrial oil, greases, metal-working fluid, process oil, and transmission and hydraulic fluid. On the basis of packaging, this market can be fragmented into bottles, pails, drums, stand-up pouches, tubes, cans, IBC, bag-in-box, and kegs. Based on end-users, the market for lubricant packaging can be divided into metalworking, machine, automotive, industry, power generation, oil and gas, and chemicals, among other manufacturing industries.
Global Lubricant Packaging Market: Regional Analysis
Based on regions, the global market for lubricant packaging can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The North American region is expected to witness a high growth in the lubricant packaging market in the upcoming years. This is due to the expansion of the automobile industry in this region. In the Asia Pacific region, developing economies, like India and China, are expected to hold substantial share in the market for lubricant packaging in the upcoming years. This is due to growing automotive sales and increasing per capita disposable income in this region. The Latin American region is also expected to witness a good growth rate in this market, owing to the growing demand for passenger vehicles and development of the chemical industry.
Global Lubricant Packaging Market: Competitive Players
The key market players of the global market for lubricant packaging include Amcor Ltd., Bemis Company, Universal Lubricants, Martin Operating, CYL, Scholle, Mauser Group, Mondi Plc, Greif, Duplas, Glenroy, Time Technoplast, Mold Tek, Orora Ltd., Westrock Company, BWAY Corp., Milford Barrel, International Paper Company, Sigma Plastics Group, and Balmer Lawrie, among several others.
Global Lubricant Packaging Market: Regional Segment Analysis