Europe Lubricant Packaging Market to See $3.2bn Valuation by 2024
Friday, August 16, 2019
Press release from the issuing company
According to the Graphical Research new growth forecast report titled Europe Lubricant Packaging Market By Packaging (Kegs & drums, Cans & bottles, Pails, IBC), By Lubricant (Engine Oils, Transmission & Hydraulic Fluids, Process Oils, Metalworking Fluids, General Industrial Oils), By Material (Plastic [PP, PET, PE, PVC], Metal [Aluminum, Tin, Steel]), By End-user (Automobile, Metal Fabrication, Oil & Gas, Power Generation, Chemical), Industry Analysis Report, Regional Outlook (Germany, UK, France, Italy, Spain, Russia, Sweden), Estimated to surpass USD 3.2 billion by 2024.
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Abundant presence of automobile manufacturing and power generation sector in Europe are the prime reason keeping the demand of lubricant packaging high over the forecast time period. In Europe vehicle manufacturing is an important industry with nearly 19.2 million vans, cars, buses and trucks being manufactured per year and accounting for almost 11.2% of the jobs in European Union. These aforementioned sectors will together drive the growth of lubricant packaging market towards positive direction. This is owing to the high consumption of lubricants in automobile sector for the smooth functioning of engines and other important components. Increasing environmental concerns have increased the investment in various innovative technologies and increasing popularity of electric vehicles is best example for that. Countries such as Norway have a good number of electric vehicle fleet in both private and public transport. This has subsequently affected the lubricant demand. Along with this the fluctuating petrochemical feedstock prices will keep the market growth rate sluggish over forecast timeframe.
Based on material type market is segmented into plastic and metal. The metal segmented is further categorized into tin, aluminum and steel while plastic segment consists of polyethylene, polypropylene, polyvinyl chloride, poly terephthalate and others. The others include polystyrene and polyamide. Among these polyethylene type plastic packaging holds the largest share in Europe region owing to its cost effectiveness and better strength.
There are different types of lubricant packaging available in the market. The major ones are cans & bottles, kegs & drums, intermediate bulk containers, pails, and others; which includes stand-up pocuhces, tubes, bad in box, etc.
There are different types of lubricants such as process oils, metal working fluids, engine oils, industrial oils, transmission & hydraulic oils, etc. Among these engine oil and transmission oils holds the largest share due to substantial presence of end user industries.
Various end user industries in the market are metal fabrication, automobile, chemical industry, power generation, oil & gas and others. Others are marine, construction, aerospace, etc.
Important players in Europe lubricant packaging market are SCHÜTZ GmbH & Co., KGaA, Scholle IPN, Mauser Group B.V., Glenroy, Inc., etc.
Europe 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:
Europe Lubricant Packaging Market Share, By Material
Kegs & drums
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