By 2024, North America Lubricant Packaging Market to Generate $3 bn
Wednesday, August 07, 2019
Press release from the issuing company
According to the Graphical Research new growth forecast report titled North America Lubricant Packaging Market By Lubricant (Engine oils, Transmission & Hydraulic Fluids, Process Oil, Metalworking Fluids, General Industrial Oils) By Material (Aluminum, Plastic), By End-User (Automobile, Metal Fabrication, Oil & Gas, Power Generation, Chemical Industry) By Packaging Type (Kegs & Drums, Cans & Bottles, Intermediate Bulk Containers, Pails), Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast Estimated to cross USD 3 billion by 2024.
The growing lubricants demand across various industry verticals such as automobile, metal fabrication, oil & gas, power generation, chemical industry and others shall positively influence the North America lubricant packaging market growth from 2019 to 2024.
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On the basis of lubricant type, the North American lubricant packaging market has been segmented into engine oils, transmission & hydraulic fluids, process oils, metal working fluids, general industrial oils and others. Among the aforementioned segments, engine oil held the largest share of over 36% in 2018 and is projected to continue leading throughout the review period. The growing demand for automobile especially in the U.S. shall positively influence the growth of the segment. General industrial oil was the second most revenue generating segment in 2018 and held a market share of over 18%.
On the basis of end-user industry, automotive was the largest segment and held a market share of over 47% in 2018. Metal fabrication was the second largest industry in 2018 closely followed by power generation segment. The growing demand for energy has resulted in the extensive use of lubricants especially in gas turbine power plants which shall further propel the growth for lubricant packaging market size during the period 2019-2024. On the basis of packaging types, kegs & drums held a market share of around 44% in 2018 and is likely to continue leading throughout the forecast period. The growing demand for kegs and drums in warehouses owing to its easy stackable property is projected to substantially contribute to the segment growth.
Some of the major players in the North America lubricant packaging market are Glenroy, Inc, Greif, Inc, Martin Operating Partnership L.P, Mauser Group B.V, Milford Barrel, BWAY Corporation, Universal Lubricants and Scholle IPN.
North America lubricant Packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Segments Covered in this Report:
North America Lubricant Packaging Market Share, By Material
Kegs & drums
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