Bizizz Market Research has recently published a research report, “Lubricant Packaging Market By Packaging Type (Kegs and Drums, Cans and Bottles, Intermediate Bulk Packaging (IBC), Pails and Others), Lubricant Type (Engine Oils, Transmission & Hydraulic Fluids, Process Oils, Metalworking Fluids, General Industrial Oils, Gear Oils and Greases), Material (Metal (Steel and Tin), Plastic (Polyethylene LDPE HDPE), Polyethylene terephthalate (PET), Polyvinyl Chloride (PVC), Polyamide (PA), Polypropylene (PP) and Polystyrene (PS)), End-user (Automotive, Metalworking, Oil & Gas, Power Generation, Machine Industry, Chemicals and Other Manufacturing) Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Lubricant Packaging Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 14 Bn by 2027, witnessing a CAGR of 4.8 % during the forecast period. Key drivers of the market are growing energy generation industry and increased manufacturing of automobiles are supporting the growth of Lubricant packaging market.
The prominence of lubricant packaging is propelling the growth for the demand for lubricants significantly from the expanding power generation industry and automobile industry are contributing to the raising sales of commercial as well as passenger vehicles expected to fuel the market growth in the coming years. Furthermore, increasing investments, especially in the oil & gas, chemical and power generation sector, these are projected to propel market growth during the forecast period. Moreover, various end-use industries constituting of automotive, power generation, oil & gas, and chemical among others deploy different mechanical components including pumps, gearboxes, turbines, and compressors which needs regular lubrication to improve their smooth functioning. Therefore, increased demand from the end-user is fueling the growth of market in lubricating packaging during the forecast period.
The Lubricant Packaging market is anticipated to register a CAGR of over 4.8% during the forecast period.
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By materials, plastic segment held a key share in Global Lubricant Packaging Market in 2018.
The prominence of plastic is evident especially in various end-user industries for packaging, as they are cost-effective and have greater strength, pressure resistance, less weight, and capability to mold into different shapes, and capacities according to the consumer demand. Cans & bottles, drums, and pails are commonly produced out of high-density polyethylene, polystyrene and polyethylene terephthalate.
Asia pacific region is projected to dominate the Global Lubricant Packaging Market during the Forecast Period.
The Asia Pacific region is leading overall lubricant packaging market is anticipated to grow over XX% in the global market during the forecast period and such trend is projected to be steady during the forecast period. The market growth is steadily increasing by rising demand from mining, machining, metal forming and plastics industry especially in developing countries including India and China. Moreover, increasing urbanization and industrialization in the region are anticipated to expand demand of lubricants thus augmenting the demand of lubricant packaging during the forecast period.
Global Lubricant Packaging market was moderately consolidated with key players accounting for significant share in 2018. Organizations are substantially delivering innovative offerings that shall be contributed to the increased competency of businesses in the global market.
Prominent players operating in the Global Lubricant Packaging Market are: Mold Tek Packaging Ltd., Duplas Al Sharq, Takween Advanced Industries, Saudi Can Manufacturing Company Ltd, Neelkamal Plastics Factory LLC., Zamil Plastics Industries Ltd., and First Press Plastic Moulders Ltd., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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