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The lubricant packaging market share is expected to increase by USD 2.27 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.92%.
This lubricant packaging market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers lubricant packaging market segmentations by end-user (automotive, metalworking, oil and gas, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The lubricant packaging market report also offers information on several market vendors, including Amcor Plc, BAM Packaging Consulting GmbH, Berry Global Group Inc., CDF Corp., CYL Corp. Berhad, FUCHS PETROLUB SE, Glenroy Inc., Graham Packaging Co. LP, Greif Inc., MAUSER Corporate GmbH, Mold Tek Packaging Ltd., Shell plc, SIG Combibloc Group AG, Smurfit Kappa Group Plc, Sonoco Products Co., Takween Advanced Industries, Time Technoplast Ltd., Valvoline Inc., and Nipa Industry among others.
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The expansion of the automotive industry bolstering the market is notably driving the lubricant packaging market growth, although factors such as fluctuating raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lubricant packaging industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Lubricant Packaging Market Driver
The expansion of the automotive industry bolstering the market is one of the factors driving the lubricant packaging market growth. The expansion of the industrial sector in emerging markets and the growth of logistics businesses have increased the demand for commercial vehicles. The increasing number of construction activities and e-commerce has increased the need to transport materials, leading to an increase in the sales of commercial vehicles globally, which is positively impacting the sales of lubricants, which is boosting the growth of the lubricant packaging market. Meanwhile, increasing demand for vehicles will lead to increased demand for lubricants, which will further favor the growth of the lubricant packaging market during the forecast period.
Key Lubricant Packaging Market Trend
Demand for environment-friendly packaging is one of the key lubricant packaging market trends fueling the market growth. Lubricant packaging is entering a new era of more sustainable packaging by reducing the number of raw materials used and incorporating more recycled plastic into packaging. Using lighter-weight steel drums has also been proven to reduce the environmental impact. Vendors across the world are focusing on introducing sustainable options that will have a minor impact on the environment. For instance, in February 2022, The Fuchs Group redesigned its small packaging for automotive lubricants; the new bottles were made from 30% of recycled materials. Thus, with the increased adoption of sustainable and eco-friendly packaging products, the market is expected to witness significant growth during the forecast period.
Key Lubricant Packaging Market Challenge
Fluctuating raw material price is one of the key factors challenging the lubricant packaging market growth. Polyethylene terephthalate and high-density polyethylene are raw materials required for manufacturing lubricant packaging bottles. Any fluctuations in the availability of these raw materials affect their prices. The high demand for a specific raw material also leads to an increase in its price. To offset the higher costs incurred on raw materials, container manufacturers tend to increase the price of the end products. The high prices of containers may discourage end-users from buying the product, thereby reducing the sales volume and negatively impacting the growth of the market.
This lubricant packaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global lubricant packaging market as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lubricant packaging market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the lubricant packaging market encompasses successful business strategies deployed by the key vendors. The lubricant packaging market is fragmented and the vendors are deploying growth strategies such as price, volume, capacity, product quality, and technological innovations to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The lubricant packaging market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the lubricant packaging market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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46% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the lubricant packaging market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
An expanding corporate sector will facilitate the lubricant packaging market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 led to a decline in regional market growth. However, the easing of COVID-19-related lockdown restrictions, the resumption of operations in the automotive industry, and the initiation of large-scale COVID-19 vaccination drives helped the regional market recover in 2021. Therefore, the market is expected to witness steady growth during the forecast period.
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The lubricant packaging market share growth in the automotive segment will be significant during the forecast period. With the increase in the transition to fuel-efficient cars and motorcycles, the demand for high-performance lubricants is growing rapidly in the automotive industry. Additionally, the use of lubricants in new applications, including battery cooling and noise reduction, is driving the demand for automotive lubricants, which will bolster the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the lubricant packaging market size and actionable market insights on the post-COVID-19 impact on each segment.
Lubricant Packaging Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.92% |
Market growth 2022-2026 |
$2.27 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.0 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key consumer countries |
US, Canada, China, India, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Amcor Plc, BAM Packaging Consulting GmbH, Berry Global Group Inc., CDF Corp., CYL Corp. Berhad, FUCHS PETROLUB SE, Glenroy Inc., Graham Packaging Co. LP, Greif Inc., MAUSER Corporate GmbH, Mold Tek Packaging Ltd., Shell plc, SIG Combibloc Group AG, Smurfit Kappa Group Plc, Sonoco Products Co., Takween Advanced Industries, Time Technoplast Ltd., Valvoline Inc., and Nipa Industry |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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