Grease Cartridges Market Trend Evaluation & Future Forecast during the Period 2018-2026
global grease cartridges market is anticipated to grow at a CAGR of over 5% during 2018-2026.
[ClickPress, Fri Sep 27 2019] Grease Cartridges Market - Introduction
Demand for lubricating grease has been gaining steady traction, on the back of its extensive use in the mining and automotive industries for enhancing operational performance. Lubricating grease also enjoys widespread applications in the oil and gas industry for achieving resistance to rust, enhancing anti-wear capacity, and reducing viscosity loss.
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The broad spectrum of applications of lubricating grease in varied industries continues to create sustained opportunities for manufacturers. As a result, grease cartridges have been witnessing steady demand, and driving the growth of grease cartridges market.
The changing preferences of end-users have also significantly influenced the grease cartridges market globally. They have shifted their focus towards convenience in contrast to the traditional grease applications. On the back of a combination of broader, macroeconomic factors and niche, industry-specific factors, the global grease cartridges market is anticipated to grow at a CAGR of over 5% during 2018-2026.
Shift from Conventionally Used Tubs to Grease Cartridges Driving Growth
End-user preference for high-quality materials is influencing manufacturers to invest in developing advanced materials that have improved storage capability. A notable shift from the conventionally used tubs towards grease cartridges has been observed, on the back of the ease of dispensing grease. In addition, greases stored in favorable conditions are said to perform better in a humid and wet environment and curtail the downtime of the machines which is quite large in the conventional formats. This is yet another crucial growth determinant for the global grease cartridges market.
Plastic Board Cartridges to Remain Significant Growth Determinant for the Grease Cartridges Market
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. Large-scale adoption of plastic board cartridges can be attributed to their relatively low price as compared to the high raw material prices of fiberboards. In addition, the plastic board cartridges have rigid structures which stand tough and resist the effect of climate on the grease. With plastic board cartridges, the grease is held securely and eliminates the chances of leakage. As a result, the study reports that the plastic board cartridges are preferable storage to ensure the safer shipping of the grease and is expected to hold a significant share in the grease cartridges market during the forecast period.
Regional Analysis of the Global Grease Cartridges Market
Asia Pacific is expected to hold the largest share in the global grease cartridges market during the forecast period, which is attributed to the rising demand for grease in the automotive industry.
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Following the region, the growth prospects of the grease cartridges market in Latin America and the Middle East & Africa are moderate to low, despite MEA’s potential to boast an impressive growth rate. The modest growth rate of Latin America grease cartridges market is the consequence of moderate demand for grease in this region.
Competitive Landscape in the Global Grease Cartridges Market
Manufacturers in the grease cartridges market are focusing on innovative strategies to consolidate their position in the market. The study profiles some of the leading players operating in the global grease cartridges market which include Adhesive Materials Group, Eurokartuschen eK, GR Produkter AB, Tubi System AB, Berlin Packaging, Fischbach USA, MBP Manufacture Bourguignponne de Plastique, Sonoco products company, Biederman Enterprises Ltd., Bev-Cap Pty Ltd., Andpak Inc., Long Thames Enterprise Co. Ltd., Plastic Tooling Manufacturing Pty. Ltd., and Schieferdecker GmbH & Co. KG, among others. The report highlights the key strategies, recent developments, and their financial position in the global grease cartridges market.
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