Lubricant Packaging Market Size
Lubricant Packaging Market size was USD 5.6 million in 2021 and will grow at a CAGR of 3.9% between 2022 and 2030, due to the increasing use of plastics in packaging industry. The market size is expected to cross 1,637.6 thousand units in terms of volume by 2030 with an anticpated CAGR of 3.4% through the forecast period.
All kinds of packaging solutions are employed in the lubricant packaging sector for storing, transporting, and packing lubricants. Lubricants include a broad spectrum of oils and fluids utilized practically in almost all significant industries worldwide.
Particularly for components like compressors, turbines, and engines, lubricants are a basic need in the energy sector. They ensure that these equipment remain faultless and stop any disturbances. Demand for lubricants is projected to rise as governments and businesses fund more initiatives involving the generation of power. This is so because larger power plants imply more equipment requiring lubrication. Governments understand that for economic development energy initiatives must be funded. Thus, the electricity producing sector should flourish in the next years. This would generate a great demand for lubricants, which will propel the lubricant packaging market expansion.
As the need for oil and gas rises in regions like Europe, so will the demand for lubricant packaging. For example, three of every four barrels of the oil Europe needs have been imported, claims the International Association of Oil & Gas Producers (IOGP). The growing output and consumption of the oil and gas sector indicates that the need for lubricant packaging is developing in European countries.
Because it's cheap, light-weight, and easy to manufacture in big quantities, plastic lubricant packaging is rather common. One issue, though, is that plastic seriously compromises the ecology. It accumulates in landfills and poll our oceans since it does not break down organically. For firms in lubricant packaging, this presents a significant challenge. They can run fines and legal battles if they fail to make their packaging more ecologically friendly. Companies thus are searching for substitutes for plastic. They are testing recyclable plastics, compostable materials, even novel biodegradable coatings. The objective is to identify a reasonably priced packaging solution that benefits the environment.
Lubricant Packaging Market Analysis
The two million dollar boom in metal packaging The metal packaging sector is expected to turn in approximately $2 million by 2030. That is plenty of metal! And that makes sense. Your preferred beverages and other goods are packaged using metals including tin, steel, and aluminum. They range in size and form from kegs to pails, cans to totes. Among all these metals, aluminum shines most. Compared to its friends tin and steel, it is lighter, less expensive, and superior in handling heat and pressure. Aluminum thus dominated the lubricant packaging market in 2030. Conversely, steel ended up with the least bit of the pie. It's far too weighty for packaging and more costly than tin and aluminium. Therefore, go no further than metal-based packaging if you search for a dependable and safe method to carry and preserve your lubricants. For a reason, this is the industry standard.
By 2030 the market for lubricating packaging from cans and bottles will surpass USD 1.5 million. Cans and bottles are fashioned from aluminum, tin, and other metals as well as polymers such PP and PE. Usually used to create cans, aluminum comes from bauxite ores. Bottles are formed from polymers. These are the most often chosen lubricants among the clients of the end-user company, hence they have a significant portion of the lubricants packaging market. Depending on their requirement, consumers can purchase these lubricants in different amounts; they are also easy to apply and user-friendly.
Get ready for an explosion of engine oil demand! We will require a staggering 600 thousand units by 2030. Why in particular? To keep operating properly, our dependable engines in automobiles, trucks, generators, and even lawnmowers guzzle it all. And, guess what? More individuals are servicing their engines and requiring more oil as the burgeoning auto repair business indicates. For those who manufacture and market engine oil, that is fantastic news. The twist is that when it comes to auto repairs, individuals are increasingly leaning toward DIFM—doing it for me—and DIY—doing it themselves. This implies they either are bringing their own cars to expert shops or fixing them themselves. We will thus not only require a lot of motor oil but also the companies that produce the containers for it will be much in demand. They will be vying with each other to have unique packaging among the others. And lastly, several kinds of engine oils—those for systems, cylinders, and trunk pistons among others—will grow in popularity. Consequently, the market for lubricant packaging is going to expand really rapidly!
Get ready for a ride in the car industry! It's expected to grow by a steady 4.5% each year from now until 2030. And guess what's driving this growth? It's all those new cars rolling off the production lines. As more cars hit the road, they're going to need all sorts of lubricants to keep their engines running smoothly. These lubricants, like engine oil, gear oil, and grease, help to reduce friction and wear and tear on the moving parts inside the engine. But it's not just about cars. The rapid growth of industries in both developed and developing countries is also playing a role. As factories and businesses expand, they need more machines and equipment to operate. And guess what? Those machines also need lubricants to keep them running smoothly. And then there's the growing demand for commercial transportation. As more goods and products are shipped around the world, the need for trucks, ships, and planes increases. And you guessed it, all of those vehicles need lubricants too. So, the demand for lubricants is going up, and that means the companies that make and sell them are going to be pretty busy. They'll need lots of containers, like cans, bottles, pails, and IBCs, to store and transport all those lubricants. And that's good news for the packaging industry as well.
Asia Pacific will witness around 4% CAGR over the forecast timeframe. The need for lubricants in the machining, mining, plastics, and metal forming industries, particularly in China and India, is likely to rise during the forecast period, propelling the Asia Pacific lubricants market growth. The lubricant packaging sector has strong growth opportunities owing to the region's strong industrialization. In China, retailers, such as JD.com and Alibaba, are supplying lubricants online. The need for lubricant packaging will also be driven by the steadily expanding vehicle sector over the projected timeframe.
Lubricant Packaging Market Share
Industry players are adopting various strategies including production capacity expansion, mergers & acquisitions and new product development to gain strong foothold in the market. In January 2020, FUCHS Group which operates globally in the lubricants industry successfully completed the acquisition of Nye Lubricants. Major players operating in lubricant packaging industry are
- Perusahaan Jaya Plastik (M) Sdn Bhd
- Duplas Al Sharq L.L.C.
- Greif, Inc.
- Martin Operating Partnership L.P.
- Mauser Group B.V.
- Mold Tek Packaging, Ltd.
- Milford Barrel
- Neelkamal Plastics
- Time Technoplast Ltd.
- SCHÜTZ GmbH & Co.
- KGaA
- BWAY Corporation (Stone Canyon Industries, LLC)
- Universal Lubricants
- Sicagen
- Scholle IPN Corporation
- NYE Lubricants
The 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 thousand from 2022 to 2030, for the following segments
By Material
- Plastic
- Metal
By Packaging Type
- Kegs & drums
- Cans & bottles
- Pails
- IBC
- Others
By Lubricant
- Engine Oils
- Transmission & Hydraulics Fluids
- Process Oils
- Metalworking Fluids
- General Industry Oils
- Others
By End-user
- Automobile
- Metal Fabrication
- Oil & Gas
- Power Generation
- Chemical
- Others
The above information is provided on a regional and country basis for the following
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Thailand
- Indonesia
- Malaysia
- Australia
- LATAM
- Brazil
- Mexico
- MEA
- Saudi Arabia
- United Arab Emirates
- South Africa
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