Press release
Future of Lubricant Packaging Market Size 2024 CertainTeed Corporation, Atlas Roofing Corporation, GAF Materials, Owens Corning, Tarco
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.
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Lubricant Packaging Market will surpass USD 15 Billion by 2024; according to a new research report.
By 2050, global population has been estimated to surpass 9 billion, as per the United Nations. Rising residential necessities of increasing population coupled with high rate of urbanization will present a robust growth indicator for Lubricant Packaging market. Residential re-roofing activities in Europe and North America will be another key driver for the Lubricant Packagings market in the coming years.
Lubricant Packaging market is monitored by several environmental regulations laid by REACH and EPA regarding volatile organic compounds (VOC) discharges from producing asphalt-saturated felt and rubberized asphalt. This will further encourage the contractors towards usage of non-bitumen Lubricant Packagings, which might pose as an intra-industrial restrain in the coming years.
Non-bitumen synthetic Lubricant Packaging segment held highest market share in 2016 and accounted more than 40% industry share in 2016.
Massive industry share is credited to unique features exhibited by synthetic underlayments such as light weight, resistance against tearing & leaking & fungal growth, ease of fixing and anti-skid finish. Majority of synthetic underlayments minimalize the occurrence of leaks by exhibiting self-healing properties. Their moisture-repellence and wrinkle-free performance will further encourage the usage of non-bitumen synthetic underlayments market. Asphalt-saturated felt and rubberized asphalt will lose some share to synthetics in the near future owing to regulations discouraging VOC emissions.
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Non-residential construction segment led the Lubricant Packaging market in 2016 and will show moderate growth by 2024. Non-residential construction will witness extensive demand for roofing underlying treatments by 2024 on account of escalating maintenance and refurbishing activities. However, residential construction segment is projected to be the fastest growing segment with CAGR close to 6.0%. The rise will be credited to increasing investment in residential construction sector particularly in Brazil, India and GCC.
Geographically, Asia Pacific had the highest share in global Lubricant Packaging market in 2016. The region had surpassed USD 11 billion in the same year and will likely follow the same trend by 2024. MEA is expected to be the next fastest growing region in the industry with an estimated CAGR over 3.5%. GCC government investment in construction sector has been rising substantially, in order to strengthen the regional infrastructure with a vision towards upcoming events. For instance, FIFA World Cup 2022. These trends will stimulate the global Lubricant Packaging market.
Significant Lubricant Packaging market players include: CertainTeed Corporation, Atlas Roofing Corporation, GAF Materials, Owens Corning, Tarco, Johns Manville, Gardner-Gibson, Duro-Last Roofing, Inc., Vaproshield, DuPont, etc. Extensive product development initiatives by the industry players will boost the Lubricant Packaging market.
Read full report description @ https://www.marketstudyreport.com/reports/lubricant-packaging-market/?utm_source=FR-SK
Related Reports: -
Global Lubricant Packaging Market Professional Survey Report 2017
This report studies Lubricant Packaging in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in thes...
https://www.marketstudyreport.com/reports/global-roofing-underlayment-market-professional-survey-report-2017/?utm_source=RR-SK
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