Lubricant Packaging Market Size, Share, Price | Industry Report, 2024

The report is a comprehensive exploration of global Lubricant Packaging market offering growth rates, size of the industry, competitive landscape information, factors to the contributing growth of the global Lubricant Packaging market and more.

Lubricant Packaging Market size will likely surpass USD 15 billion by 2024; according to a new research report.

Lubricant packaging market is expected to grow at a healthy annual rate in the coming years owing to the rising automobiles sales and the expanding power sector, where timely maintenance of complex machinery is of utmost significance.

Lubricant packaging is widely used across all major industries as lubricants are an essential part of many applications. Exponentially growing automobile industry shall positively impact lubricant packaging market for the forecast duration. Rising disposable income of consumers, especially in Asia Pacific and Latin America, is directly influencing sales of passenger vehicles, which is a positive sign to look out for lubricant packaging market growth in the forecast timespan. North America is also an active market for product manufacturers due to large number of ongoing shale oil/gas reserve exploration projects in the U.S. and technologically evolving automobile sector.

Robust growth in energy and power generation sector will be driving product demand for the forecast duration. The major challenges for future lubricant packaging market shall be environment pollution caused from plastic clogging & landfills and the fluctuations in raw material prices.

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In 2016, plastic held major share in global lubricant packaging market due to its easy availability, durability and cost effectiveness. Polyethylene held close to 40% of global lubricant packaging market share in the same year. In metal segment, aluminum had the major market share in 2016. It is cost completive and lightweight compared to steel and tin.

In 2016, cans & bottles segment held a major share of global lubricant packaging market. The industry share shall increase in the coming years owing to its widespread usage among end-users for storing and handling lubricants. Kegs & drums also had a prominent market share in 2016. Pails is poised to expand at CAGR, near to 3%, on account of increasing demand for small d lubricant containers for retail outlets.

In 2016, engine oils led the overall lubricant packaging market. Engine oil is used for I.C engines in trucks, cars, lawnmowers and generators. The increase in automobile sales and after sales service support has substantially influenced engine oils sales in recent times, which is a positive growth indicator for product demand. In end-user segment, for the year 2016, automobile accounted for the largest market share and shall grow at more than 3% CAGR in the forecast timeframe.

Asia Pacific for lubricants packaging market is likely to witness gains close to 3.5% during the forecast timeframe. It is due to the developing economic conditions, which have substantially propelled chemical, manufacturing and automobile industry growth in countries especially India, China, Japan and Indonesia. Asia Pacific, in terms of volume and value, shall remain the global lubricant packaging market leader during the forecast period.

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North America followed Asia Pacific in terms of growth expected by 2024 for lubricant packaging market and had a noticeable business share in 2016. Shale oil/gas reserves refining sites and advancing automobile industry are two major end-users in the U.S., which are likely to fuel product demand in this region. Latin America shall witness growth, close to 2%, by 2024. This can be attributed to its developing chemical industry and rising demand for passenger vehicles.

In 2016, The lubricant packaging market was consolidated. Major product manufacturers including Balmer & Lawrie, Glenroy, Grief Inc., Time Technoplast, Mauser Group B.V, Milford Barrel, SCHÜTZ GmbH & Co., KGaA and BWAY Corporation accounted for more than 50% of industry share.
The power generation sector is especially a more diverse segment which comprises heavy equipment and machines that need regular lubrication to ensure efficient functioning of critical parts. Steam turbines, boiler pumps and coal grinding bowl mills at coal-based power plants suffer from water contamination, oxidation and strenuous operations, which can be countered using suitable lubricants. Additionally, fossil fuel-based electricity generation requires increased mining and exploration activities using expensive machinery that are exposed to harsh conditions.

Outside of the scope at hydro-electric and wind farms are examples where large mechanical equipment that require frequent lubrication are employed to harness renewable energy, extending the service landscape of the lubricant packaging market. With increasing government spending for enhancing the power generation and energy grids, infrastructure development in Asia-Pacific has amplified to support the energy demands of emerging economies. According to the World Construction Network, the consumption of energy in Asia-Pacific region was estimated to grow by 30% over 2015-2025 period and the total energy production could go up by 15% during the same period, with India and China anticipated to be the major investors in power generation projects. Asia-Pacific is set to witness increased utilization of lubricants to guarantee longer life-span and smooth operations of vital machinery, to protect investments in coal-based power plants as well as the fast-growing renewable energy segment.

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Lubricant packaging research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in thousand units and revenue in USD thousand from 2013 to 2024, for the following segments:

Lubricant Packaging market by material
Metal
Aluminum
Tin
Steel
Plastic
Polyethylene (PE)
Polyethylene terephthalate (PET)
Poly vinyl chloride (PVC)
Polypropylene (PP)
Others

Lubricant Packaging market by packaging type
Kegs & drums
Cans & bottles
Intermediate bulk packaging (IBC)
Pails
Others

Lubricant Packaging market by lubricant
Engine oils
Transmission & hydraulic fluids
Process oils
Metalworking fluids
General industrial oils
Others
Lubricant Packaging market by end-user
Automobile
Metal fabrication
Oil & gas
Power generation
Chemical industry
Others

Report Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary

Chapter 2. Executive Summary
2.1. Lubricant Packaging industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Material trends
2.1.3. Packaging trends
2.1.4. Lubricant trends
2.1.5. End-user trends
2.1.6. Regional trends

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