November 24, 2020

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APAC to remain largest market for lubricant packaging through 2025

APAC to remain largest market for lubricant packaging through 2025
Photo courtesy of Hin Leong.

The global lubricant packaging market is projected to register a moderate growth during the forecast period 2017 to 2025, according to a new report by Future Market Insights (FMI). Global sales of lubricant packaging will account for 10,529 million units in 2017; by 2025 this number is estimated to reach nearly 15,000 million units.

Differentiation strategy adopted by lubricant packaging suppliers is expected to result in the introduction of sustainable lubricant packaging products at competitive prices. This will further lead toward increasing applications of lubricant packaging, particularly in power generation and automotive sectors.

In terms of volume, stand-up pouches will continue to be sought after based on packaging type, with sales estimated to reach 3,579 million units in 2017. Furthermore, sales of stand-up pouches will surpass 5,000 million units by 2025. In addition, bag-in-box packaging is projected to register the highest compound annual growth rate (CAGR) in volume terms. In contrast, volume sales of tubes and drums will exhibit sluggish growth until 2025.

Plastic will remain the preferred material for lubricant packaging globally. Sales of plastic for lubricant packaging is expected to post a CAGR of 4.4%, surpassing 10,000 million units by 2025. The polyethylene sub-segment of plastic materials will account for sales of 2,747 million units, expanding at the same rate as plastic. Demand for metal in the global lubricant packaging market will remain considerably lower than plastic.

The automotive sector will remain the largest end-user of lubricant packaging across the globe. Demand for lubricant packaging in this sector is expected to reach nearly 6,000 million units, registering the highest growth rate through 2025.

Engine oil is expected to remain the most lucrative lubricant product category, expanding at 4.8% CAGR through 2025. Engine oil accounted for 3,847 million units of lubricant packaging in 2017. In addition, sales of lubricant packaging for industrial oils is expected to post the second-highest growth rate through 2025. However, lubricant packaging for greases will remain sluggish during the forecast period.

Asia Pacific (APAC) is expected to remain the largest market for lubricant packaging, followed by North America. In addition, APAC will exhibit the highest growth, followed by the Middle East & Africa (MEA). Sales of lubricant packaging in APAC is anticipated to surpass 6,000 million units by 2025. Although North America will remain a lucrative region, sales of lubricant packaging will post a comparatively lower CAGR through 2025.

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