Press release
Booming Demand for Lubricant-Contaminated HDPE Containers Spurs Projected US$ 225 Billion in US Market
USA Lubricant Contaminated HDPE Container Waste Market
The USA Lubricant Contaminated HDPE Container Waste Market is expected to reach US$ 150.77 Billion and is projected to grow at a CAGR of 4% over the forecast period. Over the forecast period, the market for lubricant-contaminated HDPE containers in the U.S. is expected to reach US$ 225 Billion.
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As commercial vehicle sales rise, lubricants for commercial vehicles are expected to be increasingly popular, driving the waste disposal market for lubricant-contaminated HDPE containers in the United States. Custom-sized containers are often produced by manufacturers based on customer requirements.
Additionally, HDPE containers larger than 50 liters are mainly used in industrial applications, which fuels their demand. Food manufacturers can produce a wider range of foods with fewer naturally U.S lubricant contaminated HDPE container wastes as demand for natural lubricant contaminated HDPE container wastes has grown over the past few years.
In addition, the automotive industry makes up a significant amount of the market for lubricant-contaminated HDPE containers in the United States and substantially contributes to its growth. Due to the emergence of state laws and regulations, the polyethylene recycled plastic market is projected to grow from 2016 to 2019, accounting for about 25% of the US market share.
In packaging, recycling plastics is growing in popularity as well as knowledge about plastic waste management is increasing. Environment-friendly methods for producing and disposing of plastic are emerging. Hence the market for U.S. lubricant-contaminated HDPE container waste market.
Key Takeaways from the Market Study
- According to market forecasts, the U.S. lubricant contaminated HDPE container waste market is set to reach US$ 225 billion by 2032.
- According to projections, the automotive sector is expected to grow at a CAGR of 5.8% between 2023 and 2033.
- 30-50 liters of container size are expected to account for more than 22% of the global market.
Recycle plastics are expected to grow at a revenue share of 98% over the forecast period.
- The market for lubricant contaminated HDPE container waste in the U.S. is expected to grow to US$ 225 billion by 2032.
"High demand for recycled plastics, automotive sales, and sustainable packaging containers are predicted to boost the demand for lubricants contaminated HDPE containers in the U.S. market over the next few years," comments an analyst at FMI.
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Competitive Landscape
Consolidated Container Company, Nye Lubricants, Inc., Scholle Ipn Corporation, Greif, Inc., Mauser Group B.V., Milford Barrel, BWAY Corporation, Rahway Steel Drum Company, Inc., Container Distributors, Inc., Jakacki Bag & Barrel, Inc., KSCI Container Services, CKS Packaging, Inc., Polycon Industries, Inc., Trico Corporation, Encore Container, SCHÜTZ Container Systems,
By partnering strategically, manufacturers are able to boost production and meet consumer demands, increasing revenue and market share. Manufacturing products that are beneficial to the end user by utilizing new technologies and products. Expansion of production capabilities can be facilitated through strategic partnerships.
In April 2022, Encore Container, a leading provider of plastic drums and IBC totes, announced it would diversify its product line to serve new customers in new markets, starting in January by offering 77-gallon plastic drums and expanding in the coming months. In order to take advantage of these new opportunities, they are investing in 77-gallon drums.
More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the U.S Lubricant Contaminated HDPE Container Waste market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the U.S Lubricant Contaminated HDPE Container Waste market analysis report by Application (Industrial, Automotive, Aerospace), by Container Size (0-30 Liters, 30-50 Liters, Greater than 50 Liters), by and by Plastic Use (Re-Use, Recycle).
FMI's Domain Knowledge in Chemicals & Materials
Our chemicals & materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the U.S Lubricant Contaminated HDPE Container Waste sector.
Our expertise in recognizing the challenges and trends impacting the global U.S Lubricant Contaminated HDPE Container Waste industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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