Lubricant Packaging Market Revenue, Size, Analysis and forecast to 2023Posted by sagark on November 4th, 2019 Lubricant Packaging Market Overview Lubricants are known to reduce the friction between two surfaces. Lubricants can be of two types, external and internal lubricants. External lubricants lessen the adherence between metal surfaces and polymer melt. Internal lubricants decrease the friction between molecular chains. Lubricants find wide application in industrial machineries such as turbines, hydraulic systems, bearings, compressors, machine tool slideway, open and closed gears, industrial transmissions, and pneumatic tools. It forms an integral part of the machineries and hence, needs to be preserved carefully. Lubricant packaging plays an important role in preserving the lubricants. Proper storage and preservation of lubricants retain their properties for a longer duration and improves the shelf life of the lubricant. Additionally, when lubricant is stored under suitable packaging, it enables the convenient handling of the lubricant and transferring it to the facility. These attributes drive the demand for lubricant packaging to a considerable extent. The global lubricant packaging market is projected to expand at 3% CAGR over the forecast period 2017 to 2023. Request Free Sample Copy With TOC @ https://www.marketresearchfuture.com/sample_request/6605 Key Players Global lubricant packaging market is dominated by key players such as
Lubricant Packaging Market Segmentation Global lubricant packaging market has been segmented based on packaging type, material, end user, and lubricant. Based on packaging type, the market is segmented as bottle, stand-up pouch, pail, can, drum, keg, tube, intermediate bulk container, and bag-in-box. Under the packaging type, the drum segment dominates the market and is estimated to expand at a high CAGR over the forecast period. Based on material, the market is segmented as plastic and metal. Under the material segment, plastic represents the largest market share. Plastic is cheaper, popular for its strength, and durability. Consequently, it is widely preferred for lubricant packaging over metals. Based on end user, the market is segmented into automotive, metalworking, power generation, oil & gas, chemicals, machine industry, and others. Under the end user segment, automotive holds the largest share of the lubricant packaging market due to heavy consumption of lubricants for automobiles and other vehicles. Based on lubricant, the market is segmented into transmission & hydraulic fluid, engine oil, metalworking fluid, process oil, gear oil, grease, and general industrial oil. Under the lubricant segment, engine oil leads the lubricant packaging market and is likely to develop at the highest CAGR over the forecast period. The growth is owing to the surging sales for passenger cars with IC engines. Moreover, the increasing industrial automation has paved the way for increased adoption of several equipment which needs process and industrial oils which are expected to further fuel the growth of the lubricant packaging market. Intended Audience
Regional Analysis The lubricant packaging market is segmented into four key regions namely Europe, North America, the Rest of the World, and Asia-Pacific. Asia-Pacific held the largest market share in 2017 followed by Europe and North America. The surging automobile sales is accelerating the demand for lubricant packaging in the Asia-Pacific market. Furthermore, the growing oil & gas sector is expected to propel the market demand. Besides, the constant investment in the oil & gas industry is driving the market growth substantially. Rapid industrialization in the emerging economies such as India and China act as a significant force behind the expansion of the demand for lubricant packaging in the APAC market. The Middle East being a major oil exporter globally, is estimated to drive the lubricant packaging market owing to the oil reserves situated there. Browse Full Report With TOC @ https://www.marketresearchfuture.com/reports/lubricant-packaging-market-6605 Like it? Share it! More by this author |