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Opinion and Insight

Asia Pacific Lubricant Packaging Market Size to Exceed $5.5 Billion by 2024

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, In-

donesia, Malaysia, Thailand, South Korea) Estimated to hike at USD 5.5 billion by 2024. 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. 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. 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. 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.

ME‌Printer July - August 2019

Europe Glass Packaging Market Valuation to Reach $21 Billion by 2024

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According to the Graphical Research new growth forecast report titled Europe Glass Packaging Market By Application ( Beverages, Pharmaceuticals, Others), By Product (Borosilicate, De-alkalized Soda Lime, Soda Lime), Industry Analysis Report, Regional Outlook (Germany, UK, France, Spain and Italy) size to rise at $21 billion by 2024. Increasing beverages consumption in the region is anticipated to positively influence glass packaging market size by 2024. The beverages industry is one of the most crucial sectors of Europe which is responsible for driving European economy. Production as well as sales of beverages gener-

ates around $60 billion annually for the government. Furthermore, Europe is among world’s top beverages producer and ranks second globally. Glass packaging market is segmented on the basis of product types as de-alkalized soda lime glass, soda lime glass and borosilicate. Borosilicate accounted for approximately 25% of the overall business size. Borosilicate glasses are generally used in packaging of drugs and medicines. The product has several other applications including cookware, oven & microwave, telescopes, semiconductors, and so on. On the other hand, glass packaged

products has applications in ample number of sectors including pharmaceuticals, food & beverages, beer and alcoholic beverages. Glass containers are primarily used in pharmaceutical industry owing to various properties offered by glass. Glass based packaging materials are easy to sterilize, chemically inert and therefore do not react with the content and are generally impermeable with water. Various pharmaceutical companies are also investing in glass-based packaging worldwide. For instance, Merck and Pfizer announced collaboration with glass manufacturing company Corning to offer innovative solutions for drugs and cartridges.

Profile for ME Printer Magazine

ME Printer July - August 2019 Issue 172  

This year, Labelexpo, one of the largest label and package printing expo in the world, will celebrate its 40th anniversary. At Labelexpo Eur...

ME Printer July - August 2019 Issue 172  

This year, Labelexpo, one of the largest label and package printing expo in the world, will celebrate its 40th anniversary. At Labelexpo Eur...

Profile for meprint
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