openPR Logo
Press release

Lubricant Packaging Market: Bag-in-box and Stand-up Pouches Packaging Type Segments Expected to Witness Very High Growth in North America and Europe

09-25-2017 08:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Global sales of lubricant packaging is estimated to be valued at nearly US$ 6,200 Mn in 2017 and is expected to reach nearly US$ 8,800 Mn by the end of 2025, exhibiting a CAGR of 4.5% over the forecast period. The global sales revenue of the lubricant packaging market is expected to grow 1.4X over the forecast period. Several factors are responsible for this growth. A few of them are outlined below.

For more information on this report, fill the form @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4228

Increasing need for lubricants for after sales services in the automobile industry

The changing demography and rising per capita income has fuelled the demand for luxury cars in emerging economies across the world, which is estimated to increase the sales of passenger vehicles, especially SUV cars. The automotive sector accounts for a share of 54% in the total lubricants market across the globe. Increasing automobile production boosts the need for lubricants on a large scale. Consumption of lubricants in either solid, semi-liquid, or liquid form is directly linked to demand from the automobile industry. This boosts the sales of packaging products such as pails and intermediate bulk containers to store lubricants including engine oil, process oil, gear oil, and grease, which are used for the production and daily operation of automobiles.

Rising automotive sales in BRICS countries creating demand for lubricants

With a nominal GDP of US$ 16.6 trillion, BRICS countries are emerging economies wherein the market for lubricants is tremendously expanding, accounting for a share of 52.2% in 2016. Increasing disposable income in BRICS nations is correlated to rising automotive sales and this ongoing trend is anticipated to positively impact the demand for lubricants and thus its packaging. China alone accounts for almost 20% of the total vehicle production, while the rest of the BRICs nations account for approximately 20% of the total global market share of vehicles production.

Shrinking supply margins of lubricant manufacturers may hamper the lubricant packaging market

Increasing competition in the field of lubricant packaging due to various factors such as rising raw material costs and marketing expenditures are leading to declining margins of manufacturers, thus impacting sales. In developed countries, the market for automotive lubricants is developing at a slower rate of 1% per annum due to improved engine technology (which decreases the usage of lubricants on a large scale), better oil quality, and saturation in vehicle population. The increasing drain life for automobiles is also creating a negative impact on the market for lubricants. The after sales services of vehicles have witnessed a significant drop in recent years, which eventually challenges the lubricant packaging market.

Browse Market Research Report @ https://www.futuremarketinsights.com/reports/lubricant-packaging-market

Global Lubricant Packaging Market Analysis by Packaging Type

In terms of value, the drums segment is estimated to account for 26.3% share of the global lubricant packaging market by the end of 2017. The cans segment is expected to dominate the global lubricant packaging market, with an increase of 80 BPS and having the highest growth over the forecast period. Market share of the pails segment is estimated to be around 11.6% in 2017 and is expected to reach 11.9% by the end of 2025. In terms of revenue, the drums and IBC segments are projected to create an incremental opportunity of US$ 515.5 Mn and US$ 609.3 Mn respectively during the forecast period. In terms of value, the bag-in-box segment is anticipated to register a high growth rate of 5.5% during the forecast period.

Lubricant packaging companies shifting from rigid to flexible packaging formats

A few companies are approaching the new concept of flexible packaging that requires comparatively less plastic usage than traditional rigid packaging, thereby achieving efficiency and innovation in both inbound as well as outbound logistics. South Atlantic Services and Star Packaging Corp have come up with innovative lubricant packaging solutions that incur limited transportation costs. This strategy has been gaining prominence and can be utilised by other lubricant packaging manufacturers. For instance, in December 2016, Martin Operating Partnership launched the CK-4/FA-4 product line-up. In 2014, Time Technoplast was accorded the ‘Best Innovative Technology Supplier’ award by TATA Motors.

Increasing consumption of lubricants by the automotive sector boosting the lubricant packaging market

In recent years the lubricant packaging market has witnessed an impressive growth due to the increasing consumption of lubricants for automobiles across the globe. The lubricant packaging market has seen steady growth in the North America and European markets, while Asia Pacific is expected to show substantial growth over the forecast period and witness 1.6X growth by value majorly driven by rising per capita disposable income and increasing automotive sales in the region. Lubricant oils and chemicals are packed in rigid containers. However, innovation from manufacturers has caused a shift to the alternative medium of bag-in-boxes, which is considered to be the most attractive packaging segment. On the basis of lubricant type, engine oil is expected to dominate the global lubricant packaging market over the forecast period.

About FMI

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact FMI

3rd Floor, 207 Regent Street,
London W1B 3HH
United Kingdom
T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
Email:sales@futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lubricant Packaging Market: Bag-in-box and Stand-up Pouches Packaging Type Segments Expected to Witness Very High Growth in North America and Europe here

News-ID: 736113 • Views: 79

More Releases from Future Market Insights

How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring

All 5 Releases


More Releases for Increasing

Thyristor Market - The Increasing Demand From Increasing Population 
Published: Oct, 2018 The global thyristor market was valued at US$ 4,035.0 Mn in 2017 and is projected to register compound annual growth rate (CAGR) of over 7.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Thyristor Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The report suggests that the rising population and urbanization is likely to spur the
Why Cloud Computing is Gaining Increasing Importance?
With increasing amount of data coming into and flowing out of a company, data analysis, protection and storage has become a hectic job. Organizations are looking for ways to manage this effectively. Cloud technology plays a vital role in data analyzing and storage process. Furthermore, the emergence of big data has necessitated the adoption of cloud analytics. Dell EMC, VMware & Intel are some of the leading companies providing cloud solutions. VMware
Vaccine Market Demand is Increasing
U.S. Vaccine Market: Snapshot The overall vaccine industry has strengthened itself in terms of its growth rate, with a relatively higher growth rate than most other healthcare market segments. Vaccination has been an invaluable addition to better public health, and has helped millions of children, adults and animals from deadly diseases. The CDC stated in a report that diseases such as diphtheria, polio, and smallpox have been fully eliminated, while measles,
M-Commerce increasing rapidly worldwide
A new report by Hamburg-based secondary research organization yStats, “Global M-Commerce 2014: Smartphones and Tablets“, covers the latest trends and developments in mobile shopping. Yücel Yelken, CEO of yStats notes that mobile shopping is transforming the retail industry worldwide, as mobile traffic to retail sites surges and the variety of products purchased on mobile grows. M-Commerce sales worldwide were estimated to top EUR 100 billion last year as the increasing
Increasing Tourist Arrivals to Phuket
A surge in tourist arrivals at Phuket International Airport in 2011 has been welcomed by many of the Islands hotels. However long passenger queues caused by extra international arrivals have been cause for concern; what measures has the airport put in place to combat these problems? According to recent statistics from Phuket International Airport, the number of passengers at the airport had reached more than 5.6 million in the first eight
08-25-2008 | Sports
Lionsportal.com
Detroit Lions’ fans are increasing
The Detroit Lions are an American football team based in Detroit, Michigan. Originally based in Portsmouth, Ohio and called the Portsmouth Spartans, the team began play in 1929 as an independent professional team, one of many such teams in the Ohio and Scioto River valleys. For the 1930 season, the Spartans formally joined the National Football League (NFL) as the other area independents folded because of the Great Depression. Despite