Lubricant Packaging Market| COVID-19 Analysis, Opportunities and Forecast

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Lubricants packaging is defined to be a particular type of packaging used for lubricant products such as motor oil, grease, engine oil, gear oil, hydraulic machine, and brake oil. The invention in technology and augmented expenditure on non-oil industries are also driving the lubricant packaging market growth.

The fluctuating petrochemical feedstock prices are accounted to be a significant challenge for lubricant packaging market size growth in the coming years.

Regional Analysis

Regionally, the lubricant packaging market has covered significant regions of North America, Europe, Asia-Pacific, and the rest of the world. Of them, Asia-Pacific has accounted for the largest market share in 2017 owing to the rapid growth in automobile sales, which is driving the growth of the market in Asia-Pacific.

Europe is also likely to hold a substantial market share in the global lubricant packaging market owed to the incidence of major manufacturers, rising mergers and integration of operations. Besides, the mounting number of construction activities in Europe will also increase the demand for buses, heavy trucks, and other commercial vehicles which are anticipated to drive the lubricant packaging market in the future.

Segmentation

The global lubricant packaging market has been segmented on the basis of material, packaging type, lubricant, end user, and region.

By the mode of lubricant, the market is comprised of engine oil, transmission & hydraulic fluid, process oil, metalworking fluid, general industrial oil, gear oil, and grease. Wherein, engine oil leads the market and is expected to proliferate at the highest CAGR during the prediction period owing to the swelling sales for passenger cars with IC engines.

By the mode of end user, the market has been segmented into automotive, metalworking, oil & gas, power generation, machine industry, chemicals, and others where automotive leads the market owing to the substantial consumption of lubricants for various vehicles.

Key Players

The protruding players in the lubricant packaging market are Amcor Limited (Switzerland), Glenroy,Inc(US), Graham Packaging (US), Mold Tek Packaging(India), Scholle IPN (US), BAM Packaging (US)

 

 

Read More :

http://www.briefingwire.com/pr/rigid-packaging-market-is-estimated-to-grow-at-a-cagr-of-60-during-forecast-2023

https://yarabook.com/read-blog/96970

https://yarabook.com/read-blog/96980

https://yarabook.com/read-blog/97200

https://yarabook.com/read-blog/97218 

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