Lubricant Packaging Market

Lubricant Packaging Market

Lubricant Packaging Market - Global Industry Analysis and Opportunity Assessment, 2019 - 2029

  • XPLREP4391

  • October, 2019

  • 179 Pages

  • Packaging

Lubricant Packaging Market to Progress at CAGR of 5% Through 2029

The global lubricant packaging market - which was valued at US$ 8 Bn in 2018 - is forecasted to behold healthy growth during the forecast period (20189 -2029), according to a new market study by XploreMR. Majorly used for safely storing lubricants during long-distance transportation, lubricant packaging is expected to gain traction on the back of surging demand for electric vehicles.

The growth of the market is majorly attributed to facts such as increasing adoption in the automotive industry in the Asia Pacific, expansion of the power generation sector, and burgeoning sales of automobiles, both commercial and passenger. Moreover, players in the oil & gas, power generation, and chemical industries have increased spending to ensure the safety of lubricants during holding and storing.

Furthermore, automotive and power generation industries utilize numerous mechanical components, such as turbines, pumps, gearboxes, and compressors, that have to withstand a continual motion for prolonged periods. To facilitate uninterrupted functioning, lubrication is done from time to time, thereby subsequently surging the need for lubricant packaging. On the back of these facets, the global lubricant packaging market will expand at a healthy CAGR of 5% through 2029.

A recent market study published by XploreMR on the lubricant packaging market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on historic as well as current growth parameters, the growth prospects of the lubricant packaging market are obtained with maximum precision.

Safe and easy-to-use lubricant packaging solutions are witnessing burgeoning demand in the automotive industry, and leading market players are further innovative around the lubricant packaging design to incur competitive advantages in the landscape. A mounting number of lubricant packaging companies are making a shift away from rigid packaging solutions to capitalize on the convenience of use, light weight, and low cost of flexible lubricant packaging solutions, such as bag-in-box, semi-flexible cardboards, and lubricant sachet packaging solutions. In the coming years, leading players in the market are expected to target end users from the automotive industry, especially in Asia Pacific, by introducing oil and lubricants flexible packaging solutions to win in the landscape.

Lubricant Packaging Market Analysis 2019-2029

A recent market study published by XploreMR on the lubricant packaging market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on historic as well as current growth parameters, the growth prospects of the lubricant packaging market are obtained with maximum precision.

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Lubricant Packaging Market - Global Industry Analysis and Opportunity Assessment, 2019 - 2029
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