Outlook of Lubricant Packaging Market status and development trends reviewed in new report

Lubricants are substance required to reduce friction by avoiding contact between the surfaces of metals. These are required in various industries to enhance the workability of machines and reduce its breakdown. Its packaging depends on type and industry served by it with viscosity ranging from extreme low to exclusively high. Lubricant packaging is of specific type as per its handling and transportation requirement. Technologies are under development to increase the pace of filling and packaging of product.

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Lubricant Packaging Market size shall witness a healthy growth in forecast period with application in automobile, fabrication, oil & gas, power generation and chemical industry. There is rise in demand of automobiles with increase in purchasing power of people especially in emerging economies. Automobile sector has major share in product market and it is growing at a CAGR of above 4.5% in last five years that has increased its usage. Industrial sector has witnessed a rise in product demand owing to its use for reducing friction between the machines. These factors are expected to propel lubricant packaging market in the forecast timeframe.

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Major restraint for lubricant packaging market is manufacturers margin concern. Increase in competition owing to rising marketing expenditures and material cost has curbed the margin that has pulled down products sale. Further, improvement in engine technology has decreased lubricating oil consumption. Automobile industry in developed countries is growing at slow pace and facing saturation in vehicle population.

Based on type lubricant packaging market is segmented into drums, bottles, intermediate bulk containers (IBC), pails, cans, pouches, kegs, tubes and bag in box. Drums have increasing share due to their demand in transportation, oil & gas and fabrication industries. Cans and pouches have substantial share in lubricant packaging market due to its use in automobile sector. Company authorised and private owned after sales service centres majorly use bottles, cans and pouches. Pails have significant share owing to their availability with various capacities and easy handling features. Demand of bag in boxes has enhanced due to innovation and attractive appearance.

Reasons to Buy This Report:

1. Lubricant Packaging Market size & share forecast by product & application 2017-2024
2. Growth drivers, pitfalls & industry challenges
3. Key Lubricant Packaging Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles

As per the lubricant, the market is classified as engine oils, transmission & hydraulic fluids, process oil, metalworking fluid, general industrial oil, gear oil and grease. Engine oil contributes majorly in lubricant packaging market with its use in automobile industry. These have huge consumption in vehicles due to presence of large number of automobiles globally.

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Asia Pacific has substantial share in lubricant packaging market owing to growing automobile sector. The region has witnessed automotive industry CAGR above 11% in past five years that has increased product demand. Manufacturing industries comprise of above 22% in North America economy and have extensive consumption of lubricants.

Europe, led by Germany is following Asia Pacific trend due to well established and flourishing automobile industry hosting big players such as Audi and Volkswagen. Middle East and Africa have moderate share with government initiatives and increased spending on non-oil industries in Iran and Saudi Arabia. Further innovation in technology is boosting product growth in the region.

Prominent players in lubricant packaging market are Balmer Lawrie & Company, Mold Tek, Glenroy, Duplas Al Sharq, Mauser Group, Neelkamal Plastic Factory, Niagra Company, Xinxiang Gangyu Material and Time Technoplast to name a few. Companies are opting for flexible packaged products as it requires less plastic usage that enhances efficiency and innovation in logistics. Companies such as Star Corporation and South Atlantic services have acquired this strategy to reduce transportation cost.

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