Lubricant Packaging Market Size, Share, Research Methodology, Competitive Landscape and Business Opportunities
Research Reports
May 24, 2022
Market Overview
The Lubricant Packaging Market will grow at a compound annual growth rate (CAGR) of 6.85 % in the forecast period. The market share was valued at USD 7.37 billion in 2020.
Proper packaging methods for lubricants are necessary to maintain their desired properties, facilitate transportation and store safely.
Increased vehicle sales and growth in power generation, oil and gas, and mining helped grow the global lubricant packaging market. The market continues to grow with the development of specific lubricants for different machines in different industries.
Increasing demand for lubricants and, therefore, convenient lubricant packaging solutions are driving the growth of the global lubricant packaging market. Global demand for internal combustion engine vehicles has increased significantly over the last decade, creating a huge demand for lubricating oils. In addition, increased motorcycle sales are fueling Lubricant Packaging Market demand.
In addition, the significant expansion of industries such as mining, oil and gas, and power generation has also contributed to the growth of the global lubricant packaging market. Ongoing research and development work in packaging technology will also benefit the lubricating oil packaging industry.
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Market Segments
The Lubricant Packaging Market is segmented into material, type, packaging type, and lubricant type.
The material segment is categorized into Metals and Plastic. The Plastic segment will be the dominating segment.
The packaging type is segmented into a Stand-up pouch, Bottle, Drum, Pail, Can, Tube, Keg, Bag-in-box, and intermediate bulk container. The drum segment holds a higher market share.
The lubricant segment is divided into the Engine oil, Transmission & Hydraulic fluid, Process oil, Metalworking fluid, General Industrial oil, Gear oil, and Grease. Engine oil occupies the major market share.
The type section consists of Automotive Oil, Industrial Oil, Process Oil, Marine Oil, and Others.
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Regional Analysis
The Asia Pacific region is the prominent regional segment of the global lubricant packaging market. The rapid development of the automotive and power generation industries has contributed significantly to the region’s market growth. Increasing people’s disposable income has led to increased ownership of vehicles and increased demand for lubricating oils. The increasing use of transformer and turbine oils in the growing power generation industry is also driving market growth in China, India, Indonesia, and South Korea.
North America is the next largest regional market for lubricating oil packaging. Higher vehicle ownership creates greater demand for lubricating oil packaging. In addition, the rapid growth of the oil and gas industry, heavy industry, and power generation industry is driving the market growth here.
Europe also has a large share of the global lubricant packaging market. People’s high disposable income and higher vehicle ownership are the main factors for market growth. The oil and gas market in the Middle East region is one of the largest demand-generation regions in the world. Moderate growth is expected in the other regional segments during the forecast period.
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Industry News
In July 2021, ALPLA Group, a global manufacturer of innovative plastic packaging solutions based in Austria, acquired South African packaging manufacturer Verigreen. Verigreen specializes in manufacturing cans and bottles for lubricating and motor oils. This acquisition will strengthen AlPLA’s ability to manufacture lubricant packages.
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