Press release
Lubricant Packaging Market to have Good Business Opportunities in the Coming Years
Lubricant Packaging Market
Of late, several companies have come to the fore and boosted their portfolios in lubricant packaging. With lubricants being utilized in an array of industries, including automotive, manufacturing and electronics, companies are engaging in an economical and effective packaging.
Oil-based lubricants have soared in popularity to boost product integrity as manufacturers are offering foil packs for ease and accuracy; tubes designed to reduce waste; and lubricant guns with pneumatic, manual or battery operating systems.
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Potential trends: Flexible Packaging with stand-up pouches
Leading companies are doing away with rigid packaging and are embracing flexible packaging, a trend poised to boost lubricants business outlook. For instance, stand-up pouches have been setting the trend in North America as companies are helping brands repackage product lines of engine oils into stand-up pouches.
Stand-up pouches are said to have tremendous convenience and portability and have features such as handles and spouts to facilitate easy pouring. As these pouches have significantly less plastic than traditional rigid bottles, they have become highly sought-after among environment-conscious consumers.
It is worth noting that flexible packaging helps manufacturers to differentiate their products and exhibit compelling graphics.
Growth drivers: automotive sector
Underpinned by growing traction for engine oil, automotive sector is slated to boost revenue and volume in lubricant packaging market. Notably, these innate packaging products protect the integrity of high-performance oils and have become famous as an advanced barrier material.
Growth in the auto sector in emerging economies such as India and China will become instrumental in product expansion, albeit COVID-19 fallout has stalled the sector.
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Growth opportunities: North America and APAC
Stakeholders perceive overwhelming opportunities in PVC lubricant packaging as it has become popular as a versatile and economical polymer widely being used in packaging.
Use of PVC in external lubricants has become more pronounced to reduce the friction and melt surface of the processing equipment. Investment in PVC lubricants is likely to surge as plastics are still preferred by leading companies. Meanwhile, several companies see opportunities galore in aluminum metal.
Infusion of funds in the U.S. lubricant packaging market is apparent as flexible packaging has been setting the trend in the North America. Apart from being durable, lubricant packaging has been known to be eco-friendly and leverages in a significant product-to-package ratio.
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Global Market Insights, Inc.
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About Global Market Insights:
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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