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Packaging Tubes Market Estimated to Reach a US$ 4.5 Billion Value by 2028

Feb 27th 2019 at 1:23 AM

The expanding database of Market Research Reports Search Engine (MRRSE) has been recently updated by the addition of a new study which is titled as “Packaging Tubes Market Estimated to Reach a US$ 4.5 Billion Value by 2028”. The fact-based research report on the global Packaging Tubes market covers various aspects such as trends, drivers, challenges and opportunities that have an influence on the growth and expansion of the global market. All these factors are analyzed across key regions of Latin America, North America, Europe, Middle and Africa (MEA) and the Asia Pacific. In order to provide an accurate forecast, analysts have presented the current market, which forms the basis of how the metal caps and closures market is expected to develop in the future.

Tubes, which are most prominently used in packaging of pharmaceuticals, cosmetics, and oral care products, account for a multimillion dollar market worldwide. The global sales of packaging tubes is estimated to be valued at over US$ 2.5 Bn by this year’s end, which may possibly reach US$ 4.5 Bn by the end of 2028. As suggested by research, the global packaging tubes market is expected to expand at a promising CAGR of 5.4%, during the 10-year forecast period – 2018-2028.

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Tubes can be made up of aluminum, monolayer plastic, or multilayer combination of materials. The multilayer tubes are also known as laminated tubes, and one of the layers of these tubes is composed of a barrier material. The revenue from packaging tubes is anticipated to witness 1.8x growth over the projection period. Growing adoption of packaging tubes by food, home and personal care, commercial, and a few other end-use industries is presumed to play an important part in increasing the demand for packaging tubes in near future.

Revenue from aluminum & plastic tubes for packaging to face challenges in near future due to price pressure & material concerns.

Aluminum tubes are highly preferred for packaging of pharmaceutical ointments with fez caps due to high barrier properties and bio-degradable nature. Aluminum tube sales are estimated to account for a sizeable share in terms of value as well as volume, during the forecast period. Although superior barrier properties, bio-degradable nature, and easy availability will continue to enable aluminum tubes to remain the largest selling tube type, high price point, high weight per unit, and poor quality aesthetics are identified to be the longstanding challenges, causing the decline in their sales.

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Whereas, plastic tubes are the top preference for packaging of cosmetic products, with flip-top caps due to large possibilities of decoration and ease of use. Low manufacturing costs, lightweight end product, and endless possibilities of aesthetic decoration will remain the key factors compelling tube manufacturers to continue using (monolayer) plastic. However, with growing concerns about non-biodegradability of plastic, the tubes market is likely to witness a fall in the sales of plastic tubes in near future. Though bio-based plastics have been in use over the past decade, their limited availability and the associated legislative framework will collectively restrict their widespread adoption among tube manufacturers.

On the basis of product type, the global market for packaging tubes is predicted to see a major shift of consumers from plastic and aluminum tubes.

Laminated tubes are considered ideal for oral care products with stand-up cap due to light weight and high barrier protection. A prominent factor uplifting the prospects for laminated tubes is their excellent barrier capacity due to the presence of a barrier layer made up of high barrier plastic such as EVOH or polyamide, or aluminum. These tubes are foreseen to emerge superior, in terms of adoption and growth rate throughout the forecast period. This has been attributed predominantly to the performance of laminated tubes with respect to cost, barrier properties, and weight. These tubes are lightweight, economic in terms of price, and have high barrier properties, which enable them to attract a growing consumer base, exhibiting higher rate of growth than both plastic and aluminum tubes segments.

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