Lubricant Packaging Market in APAC expected to reach over $5.5bn by 2024

Graphical Research has reported the addition of the “Lubricant Packaging Market: Asia Pacific Industry Analysis and Opportunity Assessment 2019 - 2024" report to their offering.

India - August 13, 2019 /MarketersMedia/ —

Rising automotive production is a major factor that will augment the growth of lubricant packaging market. The sale of passenger cars in Asia Pacific region witnessed a year-on-year growth of over 3% whereas the region has witnessed an annual growth of over 4% in the overall automotive sale in 2017. Rising automotive demand, increasing spending capacity of middle-class population, and overall economic development are few factors that will drive the automotive sector’s growth in the region. Lubricants are extensively used as engine oils in automobiles and further development in the industry will prosper lubricant packaging demand.

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According to the Graphical Research new growth forecast report titled Asia Pacific Lubricant Packaging Market By Packaging (Kegs & drums, Cans & bottles, Pails, IBC), By End-user (Automobile, Metal Fabrication, Oil & Gas, Power Generation, Chemical), By Material (Plastic [PP, PET, PE, PVC], Metal [Aluminum, Tin, Steel]), By Lubricant (Engine Oils, Transmission & Hydraulic Fluids, Process Oils, Metalworking Fluids, General Industrial Oils), Industry Analysis Report, Regional Outlook (China, India, Japan, Australia, Indonesia, Malaysia, Thailand, South Korea) Estimated to hike at USD 5.5 billion by 2024.

Among the material segment, metal will have substantial market share. Metals are widely used in the manufacturing of packaging products like cans, pails, kegs, etc. Aluminum is preferred for cans, tin is used for drums, pails, kegs, etc. and medium & large sized drums are made from steel. Aluminum will have the highest share in lubricant packaging industry during the forecast timespan owing to its easy availability, excellent pressure & temperature characteristics, lightweight and low costs.

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Among the packaging type segment, pails are likely to have over 20% share in lubricant packaging industry during the forecast timespan. Structure of pails is similar to that of bucket and has a closing-lid at the top. Pails are used for low volume lubricant storage and handling applications in both industrial and commercial sectors.

Among the lubrication type, transmission & hydraulic fluids are likely to have over 15% share in of the industry during the forecast period. These fluids are extensively used in power transmission applications as a power transmitting medium in hydraulic systems. The growth of this segment will be driven by escalating demand for lubricant packing in backhoes & excavators, hydraulic brakes, garbage trucks, industrial machinery, elevators, etc.

Metal fabrication application will have substantial market share during the forecast period. Metal fabrication is widely used in manufacturing sector. Increasing demand for prefabricated construction owing to the investment in numerous infrastructure development projects will prosper the demand of metal fabrication segment. Other factors such as investments in metal processing & electric furnace, escalating demand for aircrafts, rising consumption of aluminum, etc. will also have positive impact on lubricant packaging demand.

Browse Table of Contents @ https://www.graphicalresearch.com/table-of-content/1224/asia-pacific-lubricant-packaging-market

Key Asia Pacific lubricant packaging market participants includes Perusahaan Jaya Plastik (M) Sdn Bhd, Duplas Al Sharq L.L.C., Greif, Inc., Mauser Group B.V., Milford Barrel, Time Technoplast Ltd, BWAY Corporation, Sicagen, Scholle IPN, etc.

Asia Pacific 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 million from 2013 to 2024, for the following segments:

Segments Covered in this Report:

Asia Pacific Lubricant Packaging Market Share, By Material
Metal
Aluminum
Tin
Steel
Plastic
Polyethylene (PE)
Polyethylene Terephthalate (PET)
Polypropylene (PP)
Poly vinyl chloride (PVC)
Others

Asia Pacific Lubricant Packaging Market Size, By Technology
Kegs & drums
Cans & bottles
Intermediate bulk packaging (IBC)
Pails
Others

Asia Pacific Lubricant Packaging Market Value, By Lubricant
Engine oils
Transmission & hydraulic fluids
Process oils
Metalworking fluid
General industrial oils
Others

Asia Pacific Lubricant Packaging Market Forecast, By End-use
Automobile
Metal fabrication
Oil & gas
Power generation
Chemical industry
Others

Browse key industry insights from this Report @ https://www.graphicalresearch.com/industry-insights/1224/asia-pacific-lubricant-packaging-market

Related Reports:

Europe Lubricant Packaging Market : https://www.graphicalresearch.com/industry-insights/1225/europe-lubricant-packaging-market

North America Lubricant Packaging Market : https://www.graphicalresearch.com/industry-insights/1213/north-america-lubricant-packaging-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

Contact Info:
Name: Parikhit B.
Email: Send Email
Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1224/asia-pacific-lubricant-packaging-market

Source URL: https://marketersmedia.com/lubricant-packaging-market-in-apac-expected-to-reach-over-55bn-by-2024/88907332

Source: MarketersMedia

Release ID: 88907332

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