Lubricant packaging is widely used across all major industries as lubricants are an essential part of many applications. Exponentially growing automobile industry shall positively impact lubricant packaging market size for the forecast duration.

Sellbyville, DE -- (SBWire) -- 11/01/2018 --GMI presents a most up-to-date research on "Lubricant Packaging Market – Global Industry Analysis, Size, Share, By Material (Plastic [PP, PET, PE, PVC], Metal [Aluminum, Tin, Steel]), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Thailand, Brazil, Mexico, South Africa, UAE, Saudi Arabia) and Forecast 2017 – 2024".

Lubricant Packaging Market size is forecast to exceed USD 15 billion by 2024; according to a new research report by Global Market Insights, Inc. Lubricant packaging is widely used across all major industries as lubricants are an essential part of many applications. Exponentially growing automobile industry shall positively impact lubricant packaging market size for the forecast duration.

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Rising disposable income of consumers, especially in Asia Pacific and Latin America, is directly influencing sales of passenger vehicles, which is a positive sign to look out for lubricant packaging market growth in the forecast timespan. North America is also an active market for product manufacturers due to large number of ongoing shale oil/gas reserve exploration projects in the U.S. and technologically evolving automobile sector.

In 2016, kegs & drums generated largest revenue in lubricant packaging market, followed by cans & bottles. Can & bottles shall experience surge in demand in the near future due to its extensive usage across all key end-users for handling, storing and transporting lubricants. Pails are anticipated to grow at around 3% CAGR during the forecast period owing to rising demand for compact and small lubricant vessels and containers.

Process oils shall witness maximum growth in lubricant packaging market by 2024. Process oils play a key role in manufacturing polymer products, which are used in consumer goods, automotive, medical sector, etc. Process oil observes substantial demand from escalating rising automobile industry due to its ability to offer unique traits such as high saturation point, purity, stability and low volatility.

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In 2016, Asia Pacific, led by China held largest share of global lubricants packaging market and shall hold its position in terms of volume during the forecast timespan. Asia Pacific is currently witnessing huge foreign direct investments from multi-national power generation and automobile players, which is anticipated to boost the industrial scenario in countries including India, Japan, china, Thailand, Malaysia, Indonesia, etc. This will boost lubricant packaging market in the region over the next few years.

In 2016, Europe followed APAC in global lubricant packaging market volume. Prevalence of substantial automobile industry in Germany, the UK, and France are prime drivers for lubricant packaging market in the region. North America will witness significant growth rate after Asia Pacific by 2024 in lubricant packaging market owing massive lubricant demand across industries such as automotive, power generation and oil & gas.

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Lubricant packaging market share was fairly consolidated in 2016 with major player holding 50% industry share. Key product manufacturers include BWAY Corporation, Balmer & Lawrie, Grief, Glenroy, Time Technoplast, Milford Barrel, Mauser Group, and SCHUTZ.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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