A recent market intelligence report that is published by Data Insights Partner on the global Lubricant Packaging Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Lubricant Packaging Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Lubricant Packaging Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Lubricant Packaging Market is offered. In accordance with the report, the global Lubricant Packaging Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Global Sales of lubricant packaging were valued at US$ XX Bn in 2019 and are projected to reach US$ xx Bn by 2028, registering a CAGR of 4.1% during the forecast period
The Asia-Pacific region is anticipated to be rapidly growing market for lubricant packaging, and is estimated to hold a share of xx% in the total lubricant packaging market, reflecting CAGRs of 5.2% respectively during the forecast period.
The changing demography and rising per capita incomes have fuelled the demand for luxury cars in emerging economies across the globe, which is estimated to increase the sales of passenger vehicles, especially SUV cars. The automotive sector accounts for a share of 55% in the total lubricants market across the globe. Increasing automobile production boosts the need for lubricants on a large scale.
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Consumption of lubricants in either solid, semi-liquid, or liquid forms is linked to the demand for them 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.
With a nominal GDP of around 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 2018. Increasing disposable income in BRIC nation 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 rest of the BRICs nations accounts for approximately 20% of the total global market share for vehicles production
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, impacting sales
In developed countries, the market for automotive lubricants is developing at a slower rate of 1.1% per annum due to the improved engine technology (which decreased the usage of lubricants on a large scale), better oil quality, and saturation in the 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 witness a significant drop in the recent years which eventually hampered lubricant packaging market.
The automobile industry is enduring a period of technological advancement with several regulations that require manufacturers to increase the fuel efficiency of their vehicles
New types of smaller and more powerful engines are likely to gradually require advanced engine oils. At the same time, efforts by automobile manufacturers to reduce the maintenance needs of engine oil so as to provide longer drain intervals are predicted to have a dampening effect on the sales of lubricants, especially in the lightweight vehicle market which observes a higher decline in lubricant consumption than medium and heavy duty vehicles. All these factors are anticipated to hamper the market for lubricant packaging.
Demand for lubricants is rising with the surge in small- and medium-sized steel and metal industries across the globe which require them either in solid or semi-liquid forms for production purposes such as cutting metal, sheets, and manufacturing auto ancillary components. To cut costs and avoid wastage, SME prefer to lease small quantities of lubricants from renowned producers. Subsequently, manufacturers capitalize on the opportunity to serve the consumer need through either small stand-up pouches, bottles, cans, or bag-in-boxes.
Multiple lubricant packaging companies have either collaborated with or acquired local as well as international plastic packaging manufacturers such as, for instance, the alliance between Duplas Al Sharq LLC and Mauser Group B.V. These collaborations are a key trend adopted by major players to expand their packaging markets.
Ø These players aim to expand their product range so as to cater to the demands of multiple end-use industries
v In April 2015, Duplas Al Sharq LLC collaborated with Global Closure System, a leading manufacturer of plastic closures
v In April 2016, Mauser Group B.V. announced the acquisition of Engineered Recycling Company, LLC (ERC) LLC, a plastic manufacturer
A few companies are approaching the new concept of flexible packaging which 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 which incur limited transportation cost. This strategy has been gaining prominence and can be utilized by other lubricant manufacturers.
Ø For instance, in December 2016, Martin Operating Partnership launched the CK-4/FA-4 product lineup
This market intelligence report on the global Lubricant Packaging Market encompasses market segments based on packaging, lubricant , material , end use and country.
By Packaging Type the global Lubricant Packaging Market has been divided into:
By Lubricant the global Lubricant Packaging Market has been divided into:
q Engine Oil
q Transmission and Hydraulic Fluid
q Process Oil
q Metal-working Fluid
q General Industrial Oil
q Gear Oil
By Material the global Lubricant Packaging Market has been divided into:
By End Use the global Lubricant Packaging Market has been divided into:
q Metal working
q Oil & Gas
q Power Generation
q Other Manufacturing
By country/region, the global Lubricant Packaging Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Exxon Mobil
q Neilchem Trading LLC
q Shamo Plast Industries
q Alzar FZE
q Amgulf Polymers and Chemicals Limited
q Balmer Lawrie & Co. Ltd.
q Mold Tek packaging Ltd
q Time Technoplast Ltd.
q Glenroy, Inc.
q Duplas Al Sharq LLC
q Greif, Inc.
q Mauser Group B.V.
q Scholle IPN
q CYL Corporation Berhad
q Martin Operating Partnership L.P.
q Custom Pak Illinois, Inc.
q Dalden Corporation
q Excel Plastic Industry LLC
q Products Filling & Packaging Co.
q Al Bayader International
q Nilkamal Crates and Bins FZE
q Detpak Middle East Trading LLC
q Exxon Mobil
q Royal Dutch Shell PLC.
q Chevron Corporation
q China Petroleum & Chemical Corp
q BP PLC.
q FUCHS PETROLUB SE
q TOTAL S.A.
q Idemitsu Kosan Co Ltd
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Lubricant Packaging Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter's five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
In March 2016, Balmer Lawrie’s leather chemicals business launched new products and technical service centre (Balmer Lawrie & Co Ltd)
In April 2015, DUPLAS AL SHARQ partnered with Global Closure Systems in order to enhance its plastic closure segment
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Ø This study offers comprehensive yet detailed analysis of the Lubricant Packaging Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Lubricant Packaging Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Lubricant Packaging caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Lubricant Packaging Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
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v Identification of key factors driving investment opportunities in the Lubricant Packaging Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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