A recent report by Global Market Insights predicts demand for lubricant packaging in Asia-Pacific will grow at a compound annual rate of 3.5 percent from 2017 to 2024, driven by the regions increasing thirst for lubes, especially from India and China. However, packaging suppliers in the two countries have a more conservative outlook.
Kline & Co. consultants projected Indias annual lubricants demand to grow at a compound annual rate of 2.5 percent out to 2021. Packaging suppliers will benefit from that trend, but not all companies should expect to benefit that much, partly because of shifts in types of package used by the industry, said Adhip Pal Chaudhuri, a manager at Balmer Lawrie, a Kolkata-based supplier of greases and travel services that also manufactures steel drums for oil and chemical packaging.
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