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Lubricant Packaging Market is likely to witness tremendous growth over the forecast timeframe
Lubricant Packaging Market
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Asia Pacific is currently witnessing huge foreign direct investments from multi-national power generation and automobile players, which is anticipated to boost the industrial scenario in countries including India, Japan, china, Thailand, Malaysia, Indonesia, etc. This will boost market in the region over the next few years. Asia Pacific led by China held largest share of Lubricant Packaging Market and shall hold its position in terms of volume during the forecast timespan.
Lubricant packaging market share was fairly consolidated in 2016 with major player holding 50% industry share. Key product manufacturers include:
• BWAY Corporation
• Balmer & Lawrie
• Greif Inc.
• Glenroy
• Time Technoplast
• Milford Barrel
• Glenroy Inc.
• Nye Lubricants
• Mauser Packaging Solutions
• SCHUTZ
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Lubricant Packaging market by end-user:
• Automobile
• Metal fabrication
• Oil & gas
• Power generation
• Chemical industry
Growth indicators in automobile and power generation industry will be primarily driving lubricant packaging market during the forecast timeframe. The global automotive sales in 2005 was roughly 65 million units and reached 93 million units in 2016, this elevation in the automotive sales is poised to positively influence market for the forecast duration.
Plastic held more than 70% of global lubricant packaging market share on account of its durability, easy availability and cost competitiveness in 2016. In plastic sub-segment, polyethylene held approximately 40% in 2016 of overall plastic market. In metal sub-segment, aluminum accounted over 60% of industry chunk in 2016. Aluminum is cost effective, abundantly available in earth's crust and lightweight making it highly suitable for applications demanding minimum packaging weight.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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