According to the study, plastic grease cartridges are substituting the fiberboard cartridges at a considerable pace, owing to the benefits provided by the former packaging solution.
[ClickPress, Mon Sep 02 2019] Sales of grease cartridges are likely to witness a promising growth at a CAGR of over 5% through 2026, as per Fact.MR’s latest research report. Grease cartridge sales will continue to remain highly influenced by steady demand from mining and automotive industry.
According to the Fact.MR report, the grease cartridges market is undergoing a phase of evolution, and manufacturers are focusing on the improving the quality of grease along and storage..
Demand for Plastic Grease Cartridges Continues to Surge
According to the Fact.MR study, demand for plastic grease cartridges continues to remain steady with the segment valued at nearly US$ 140 Bn in 2017.
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A notable shift has been witnessed from traditionally used fiberboard cartridges to plastic cartridges, on the back of high prices of paperboard used for the manufacturing of the former. In addition, the rising demand for plastic grease cartridges is driven their features such as climate-resistance, rigidity, and durability that mitigates the risk of leakage. This makes plastic grease cartridges more desirable for logistics and shipping activities. According to the study, demand for plastic grease cartridges is also positively influenced by growing e-commerce industry, where these materials are used on a large scale.
Grease Cartridges Market Growth Relies on Demand from Automotive Industry
Manufacturers of the grease cartridges market are focusing on lucrative after-sales opportunities in mining and automotive industry. Automotive industry independently holds over 50% share of the overall lubricant market across the world, which is attributed to the large-scale lubrication needs in the automobile production. Grease cartridges are gaining popularity, owing to their efficiency in reducing the manual efforts employed for applying grease on vehicle chassis, automotive intersections, and anti-friction bearings.
With the increasing inclination of consumers towards convenient lubricating products, manufacturers are endeavoring towards proposing and implementing breakthroughs in the storing and packaging solutions, out of which the grease cartridges market is expected to draw significant growth prospects.
Grease Cartridges Market – Key Insights on Segmentations