The oil can market is fueled by rising demand for lubricants across industries and the preference for convenient dispensing solutions. Technological advancements in durable and user-friendly packaging further propel the market. However, fluctuating raw material costs and environmental concerns pose potential challenges. Uncover the market drivers, competitors, and key players' market share in our Sample Report.
NEWARK, Del., April 25, 2024 /PRNewswire/ -- The Future Market Insights, Inc. market analysis implies an estimation of US$ 2.90 billion for the oil can market in 2024. These trends, characterized by their amplifying adoption, signifies a surge in sales of oil cans, calculated for a valuation of US$ 4.40 billion by 2034. This forecast reflects a CAGR of 5.20% from 2024 to 2034.
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The oil can market is slated to witness steady growth ushered by amplifying commercial production and automotive upkeep requirements. With amplifying demand for lubricants in the manufacturing, construction, and automotive sectors, the oil bottle market experienced an augmentation.
The technological breakthroughs in packaging styles for durability and convenience sustain the oil can market expansion. Catalysts like shifting raw material costs and spurring ecological issues are roadblocks to sales growth of oil cans. The oil can industry indicates an optimistic trajectory, bolstered by strong demand from end-use sectors and continual product innovations.
Regional Outlook
The rising consumer choices for convenient lubrication solutions soar the demand for well-designed oil cans in North America. The transition towards green packaging solutions and the stress on reusability push the breakthroughs of sustainable oil can options in Europe. The boosting automotive and production industries in emerging economies like China and India aids considerably in the demand for oil cans.
"The oil can market encounters constant growth, ushered by boosting demand from end users. Market trends of oil cans are prompted by shifting oil costs, technological innovations, and progressing ecological regulations, influencing competitive policies and consumer requirements.", says Ismail Sutaria (Lead Consultant, Packaging and Materials at Future Market Insights, Inc.).
Key Takeaways
- The plastic material possesses a share of 57.00% in 2024.
- In the capacity category, the 1 to 5 Liters segment to hold a share of 48.00% in 2024.
- Italy oil can industry imply augmentation at a CAGR of 4.40% between 2024 and 2034.
- Germany oil can market indicates a CAGR of 2.50% through 2034.
- France oil can industry indicates a CAGR of 5.60% through 2034.
- Spain sales of oil cans indicate a CAGR of 3.70% through 2034.
- The United Kingdom oil can market reflects expansion between 2024 and 2034 at a CAGR of 5.10%.
- Through 2034, Canada oil can industry shows escalation at a CAGR of 4.60%.
- China oil can market exhibit upsurge at CAGR of 6.40% between 2024 and 2034.
- Between 2024 and 2034, the United States oil can sales imply growth at a CAGR of 3.70%.
- From 2024 to 2034, South Korea demand for oil cans equates at a CAGR of 6.10%.
- Japan oil can sales implies expansion at a CAGR of 5.90% through 2034.
Competitive Landscape
The competition in the oil can market is fragmented, and there are numerous vendors. The oil can manufacturers adopt diverse competitive tactics to strengthen the market and be ahead of the competition. The rising sales force them to be ingenious and fierce, administering some segregation from other oil can producers.
Recent Developments
- In April 2021, Dover Fueling Solution made an agreement with Shell to automate the site with 'Tokheim Fuel POS.' The agreement implicates a confirmation of the Tokheim fuel POS system and amalgamates a touchscreen interface that connects with various systems such as Electric Vehicle charging, dispensers, CCTV, payments, and others.
- In December 2020, PIUSI launched the Suzzarable-3, a comprehensive dispenser assortment for IBC tanks needed for diverse requirements and implementations.
Purchase now and gain full access to the Oil Can Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
About the Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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