MarketResearchNest.com adds “Global Lubricants Packaging Market 2017-2021” new report to its research database. The report spread across 70 pages with table and figures in it.
Research analysts forecast the global lubricants packaging market to grow at a CAGR of 2.29% during the period 2017-2021.
About Lubricants Packaging
Packaging refers to the process of enclosing or wrapping up of a product for storage, distribution, and protection from external environment for sales, transport, or warehousing. Lubricants packaging is a special type of packaging used to encase lubricant products such as motor oil, grease, engine oil, gear oil, hydraulic machine, and brake oil. The various types of lubricants packaging include stand-up pouches, bottles, tubes, cans, bag-in-box, pails, and drums.
Covered in this report
The report covers the present scenario and the growth prospects of the global lubricants packaging market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Browse full table of contents and data tables at https://www.marketresearchnest.com/Global-Lubricants-Packaging-Market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Lubricants Packaging Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Lubricants Packaging Market 2017-2021
Technavio recognizes the following companies as the key players in the global lubricants packaging market: Amcor, Glenroy, Graham Packaging, Mold-Tek Packaging, and Scholle IPN.
Other Prominent Vendors in the market are: BAM Packaging, Berry Plastics, CDF, KLW Plastics, Nipa Industry, Smurfit Kappa, Sonoco Products, Takween Advanced Industries, and Zamil Plastics.
Commenting on the report, an analyst from Research team said: “One trend in the market is growth of innovative packaging technology for lubricants. Stringent government regulations and increased environmental concerns are prompting the lubricant packaging industry to develop alternative products to the present plastic packaging material. According to the regulations of ASTM D-6400, biodegradable plastics and compostable plastics should be used as encasing materials.”
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According to the report, one driver in the market is low price of crude oil. Crude oil prices directly affect the energy value chain, especially in exploration and the production companies. Since 2014, crude oil prices have declined by almost 50%. This decline in the crude oil prices has offered attractive opportunities for downstream companies to increase their revenue and profit growth. The plunge in the oil prices has reduced the feedstock cost and increased the volume and profit margin of companies operating in downstream operations.
Further, the report states that one challenge in the market is fragmented market place and crude oil prices leading to increased competition. The lubricants packaging manufacturing industry is highly fragmented with the presence of large and domestic vendors in the market. The lubricants packaging industry is facing concerns with respect to customers’ demand for low-cost packaging material. This should be catered to while considering their profit margins and the standard and quality of packaging materials. Large companies can provide integrated packaging solutions by including value-added designs, and after sales and support services.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Mr. Jeet Jain