Published Date : Apr 10, 2018
ALBANY, New York, Apr 10, 2018: MarketResearchReports.biz has announced the addition of a new market study to its repository, titled, “2018-2025 Lubricant Packaging Report on Global and United States Market, Status and Forecast, by Players, Types and Applications.” The report states that low fuel prices coupled with rising spending capacity of people worldwide will likely drive up sales of automobiles thereby fuelling demand for lubricant packaging. This is because automobiles require lubricants such as engine oils, transmission fluids, and gear oils, to function properly.
The report adds that the emergence and subsequent popularity of electric vehicles, on account of the zero carbon emissions, too has majorly bolstered the market for lubricant packaging. Flourishing industrialization in developing economies, together termed BRICS (acronym for Brazil, Russia, India, China, and South Africa) has also proved immensely beneficial for the market.
A noticeable trend in the market for lubricant packaging is the growing demand for pouch packaging which is predicted to have a positive impact on the market. Stand-up pouches are superseding rigid lubricant bottles on account of their lesser weight, durability, portability, eco-friendly nature, and effective storage space. Based on product, the market for lubricant packaging is segmented into plastic, metal, and others. Oil and gas, automotive, power generation, metal working, machinery and equipment, and others are some of the main end users of the product.
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The United States market for lubricant packaging is a prominent one owing to substantial sales in the region. This is because of the presence of a solid automobile industry in the region. Apart from that, robust industrialization in the region too has stoked demand for lubricant packaging in its market. Vendors in the United States market compete against one another on the basis of price, capacity, volume, technological innovations, and product quality. They are pouring money into developing cutting-edge products and building new manufacturing units to cater to the surging demand. Asia Pacific is another key market for lubricant packaging owing to the exploding industrialization and automobile manufacture and sales in the region.
In order to progress in the market, key players – including manufacturers and producers – are adopting both flexible and rigid plastic packaging solutions to cater to the various needs of end users. They are also seen making efforts to increase their geographical footprints via the inorganic route of strategic mergers and acquisitions. Besides, they are devising various solutions to bring down operational costs and up their profit margins.
Some of the key players in the United States market for lubricant packaging are Mold Tek Packaging, Balmer Lawrie, Time Technoplast, Duplas Al Sharq LLC, Glenroy, Mauser Group, Greif, Scholle IPN, Martin Operating Partnership, CYL Corporation Berhad, Neelkamal Plastic Factory, Universal Lubricants, Takween Advanced Industries, Niagara Lubricant, Xinxiang Gangyu Packing Material, Packman Industries, Zhongtian Petrochemical, Suzhou Fansheng Plastic Manufacture, Dongying Longhai Petrochemical, and Honglan Packaging.
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