The global lubricant packaging market is expected to develop at a healthy rate of more than percent between 2022 and 2028, with a market size of around USD $$ billion in 2021.
Lubricant packaging refers to a variety of container types for storing, managing, and transporting lubricants such as engine oils. Lubricant packaging market growth is fueled by rising global demand for lubricants and a quick shift toward flexible packaging formats. According to Statista, a global database management business, global lubricant demand hit 37 million metric tonnes in 2020, and by 2023, it is predicted to reach 37.4 million metric tonnes. Furthermore, SCG Chemicals and The Shell Company of Thailand Limited will partner in January 2022 to produce “Eco-friendly Lubricant Bottles” composed of high-quality Post-Consumer Recycled Resin (PCR).
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Castrol has cooperated with Pulpex, a paper-based packaging company, to design paper bottles for Castrol’s goods in May 2021. Furthermore, the usage and demand for Lubricant Packaging is expected to rise throughout the forecast period, owing to the rising automotive sector and rapid industrialisation in emerging economies. However, environmental concerns about the usage of plastics, as well as the high cost of raw materials, may limit market growth throughout the projection period of 2022-2028.
Asia Pacific, North America, Europe, Latin America, and the Rest of the World are the primary regions examined in the global Lubricant Packaging Market study. Because of rising lubricant demand from industries and the automotive industry in the region, North America is the world’s leading region in terms of market share. Over the projected period 2022-2028, Asia-Pacific is expected to grow at the fastest rate. Rapid development and expanding automotive sales in the Asia-Pacific region would provide lucrative growth opportunities for the Lubricant Packaging Market.
Major market player included in this report are:
● BWAY Corporation
● Greif
● SCHuTZ GmbH & Co KGaA
● Time Technoplast Ltd
● Balmer Lawrie
● Duplas Al Sharq L.L.C
● Nye Lubricants Inc
● Glenroy Inc
● Graham Packaging Company
● Mold-Tek
The study’s goal is to estimate market sizes for various segments and nations in recent years and anticipate values for the next eight years. The report is structured to include both qualitative and quantitative characteristics of the sector in each of the study’s regions and countries. Furthermore, the research provides thorough information on critical areas such as driving drivers and obstacles that will shape the market’s future growth. The research will also include accessible opportunities in micro markets for stakeholders to invest, as well as a complete analysis of the competitive landscape and significant competitors’ product offers. The following are the market segments and sub-segments in detail:
Lubricant Packaging Market, By Type
• Automotive Oil
• Industrial Oil
• Process Oil
• Marine Oil
• Others
Lubricant Packaging Market, By Application
• Automotive
• Industrial
• Others
In addition, the following years were examined for the study:
Historical year – 2018, 2019,2020
Base year – 2021
Forecast period – 2022 to 2028
Market Study’s Target Audience for the Global Lubricant Packaging Market:
Consultants and Advisors of Note
Large, medium-sized, and tiny businesses all exist.
Entrepreneurial investors
Added-Value Resellers (VARs)
Providers of third-party knowledge
Financial advisors
Investors
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