Lubricant Packaging Market Size
Lubricant Packaging Market size was USD 5.6 million in 2021 and will grow at a CAGR of 3.9% between 2022 and 2030, due to the increasing use of plastics in packaging industry. The market size is expected to cross 1,637.6 thousand units in terms of volume by 2030 with an anticpated CAGR of 3.4% through the forecast period.
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In the lubricant packaging industry, there are all types of packaging options that are used for packing, storing, and transportation of lubricants. Lubricants cover a wide class of oils and fluids that are used across almost all major industries throughout the world.
Lubricants are a vital part of the energy industry, especially for components like compressors, turbines, and engines. They keep these machines running smoothly and prevent any disruptions. As governments and private companies invest more in power generation projects, the demand for lubricants is going to increase. This is because more power plants mean more equipment that needs to be lubricated. Governments know that investing in energy projects is important for economic growth. So, we can expect the power generation industry to thrive in the coming years. This will create a huge demand for lubricants, which will drive the growth of the lubricant packaging market.
The demand for lubricant packaging will increase as the demand for oil & gas increases in places such as Europe. For instance, according to the International Association of Oil & Gas Producers (IOGP), three out of every four barrels of the oil Europe requires have been imported. This shows that the need for lubricant packaging is rising in European nations as a result of the oil & gas industry's expanding output and consumption.
Plastic lubricant packaging is popular because it's cheap, lightweight, and easy to make in large quantities. But there's a problemplastic is a major threat to the environment. It doesn't break down naturally, so it piles up in landfills and pollutes our oceans. This is a big problem for lubricant packaging companies. They need to find a way to make their packaging more environmentally friendly, or they could face fines and legal challenges. That's why companies are looking for alternatives to plastic. They're experimenting with compostable materials, recycled plastics, and even new biodegradable coatings. The goal is to find a packaging solution that's both cost-effective and good for the planet.
Lubricant Packaging Market Analysis
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The Metal Packaging MarketA 2 Million-Dollar Boom By 2030, the metal packaging industry is poised to rake in a cool $2 million. That's a lot of metal! And it's no wonder why. Metals like aluminum, steel, and tin are the go-to materials for packaging your favorite beverages and other products. They come in all shapes and sizeskegs, pails, cans, totes, and more. Out of all these metals, aluminum takes the spotlight. It's cheaper, lighter, and better at handling heat and pressure than its buddies tin and steel. That's why aluminum dominated the lubricant packaging market in 2030. Steel, on the other hand, ended up with the smallest piece of the pie. It's more expensive than tin and aluminum, and it's way too heavy for packaging. So, if you're looking for a safe and reliable way to store and transport your lubricants, look no further than metal-based packaging. It's the industry standard for a reason!
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The lubricating packaging market size from cans & bottles will exceed USD 1.5 million by 2030. Aluminum, tin, and other metals, as well as polymers, such as PP and PE, are used to make cans and bottles. Aluminum, which is obtained from bauxite ores, is frequently used to make cans. Polymers are used to make bottles. Since clients in the end-user business overwhelmingly chose these, they held a major share of the lubricants packaging market. These lubricants are available to consumers in varied quantities according to their needs and are user-friendly and simple to dispense.
Get ready for a surge in the need for engine oil! By 2030, we'll need a whopping 600 thousand units. Why so much? Well, our trusty engines in cars, trucks, generators, and even lawnmowers all guzzle it up to keep running smoothly. And guess what? The car repair biz is booming, which means more people are fixing their engines and needing more oil. That's great news for the folks who make and sell engine oil. But here's the twistpeople are getting more into DIY (doing it themselves) and DIFM (doing it for me) when it comes to car repairs. This means they're either fixing their own vehicles or taking them to professional shops. So, not only will we need a ton of engine oil, but the companies that make the containers for it are going to be in high demand too. They'll be competing to make their packaging stand out from the crowd. And finally, different types of engine oils, like those for systems, cylinders, and trunk pistons, will become increasingly popular. As a result, the market for lubricant packaging is going to grow like crazy!
Get ready for a ride in the car industry! It's expected to grow by a steady 4.5% each year from now until 2030. And guess what's driving this growth? It's all those new cars rolling off the production lines. As more cars hit the road, they're going to need all sorts of lubricants to keep their engines running smoothly. These lubricants, like engine oil, gear oil, and grease, help to reduce friction and wear and tear on the moving parts inside the engine. But it's not just about cars. The rapid growth of industries in both developed and developing countries is also playing a role. As factories and businesses expand, they need more machines and equipment to operate. And guess what? Those machines also need lubricants to keep them running smoothly. And then there's the growing demand for commercial transportation. As more goods and products are shipped around the world, the need for trucks, ships, and planes increases. And you guessed it, all of those vehicles need lubricants too. So, the demand for lubricants is going up, and that means the companies that make and sell them are going to be pretty busy. They'll need lots of containers, like cans, bottles, pails, and IBCs, to store and transport all those lubricants. And that's good news for the packaging industry as well.
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Asia Pacific will witness around 4% CAGR over the forecast timeframe. The need for lubricants in the machining, mining, plastics, and metal forming industries, particularly in China and India, is likely to rise during the forecast period, propelling the Asia Pacific lubricants market growth. The lubricant packaging sector has strong growth opportunities owing to the region's strong industrialization. In China, retailers, such as JD.com and Alibaba, are supplying lubricants online. The need for lubricant packaging will also be driven by the steadily expanding vehicle sector over the projected timeframe.
Lubricant Packaging Market Share
Industry players are adopting various strategies including production capacity expansion, mergers & acquisitions and new product development to gain strong foothold in the market. In January 2020, FUCHS Group which operates globally in the lubricants industry successfully completed the acquisition of Nye Lubricants. Major players operating in lubricant packaging industry are
- Perusahaan Jaya Plastik (M) Sdn Bhd
- Duplas Al Sharq L.L.C.
- Greif, Inc.
- Martin Operating Partnership L.P.
- Mauser Group B.V.
- Mold Tek Packaging, Ltd.
- Milford Barrel
- Neelkamal Plastics
- Time Technoplast Ltd.
- SCHÜTZ GmbH & Co.
- KGaA
- BWAY Corporation (Stone Canyon Industries, LLC)
- Universal Lubricants
- Sicagen
- Scholle IPN Corporation
- NYE Lubricants
The Lubricant Packaging Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units and revenue in USD thousand from 2022 to 2030, for the following segments
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By Material
By Packaging Type
- Kegs & drums
- Cans & bottles
- Pails
- IBC
- Others
By Lubricant
- Engine Oils
- Transmission & Hydraulics Fluids
- Process Oils
- Metalworking Fluids
- General Industry Oils
- Others
By End-user
- Automobile
- Metal Fabrication
- Oil & Gas
- Power Generation
- Chemical
- Others
The above information is provided on a regional and country basis for the following
- North America
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Thailand
- Indonesia
- Malaysia
- Australia
- LATAM
- MEA
- Saudi Arabia
- United Arab Emirates
- South Africa
