Global Plastic Tubes Market 2022-2028

Global Plastic Tubes Market 2022-2028

The global plastic tubes market is growing at a CAGR of 6.4% during the forecast period (2022-2028). The market growth is driven by extensive packaging applications in the cosmetic industry. The cosmetic industry segment held 32.0% share in the plastic tubes market, accounted for $536 million in 2021. Growing disposable incomes in developed, as well as emerging economies and the improved standard of living, will further intensify the demand for cosmetic products. Further, the increase in demand for innovative packaging in cosmetic industries also drives the market for the plastic tubes. Along with it, oral care and the pharmaceutical industry are showing prominent market share in 2021. The oral care industry segment held 26.0% market share, whereas, pharmaceutical industry segment held 24.0% share in the plastic tubes market. Plastic tubes packaging is preferred in the oral care and pharmaceutical industry owing to an increase in standards of hygiene and growing demand for sophisticated tamper-proof solutions.

Geographically, Asia-Pacific with emerging nations such as China and India, held the highest market share in 2021, attributed to its inclination towards improvement in the standard of living. Rapid urbanization and increasing disposable income are the crucial factors contributing to the rising demand for personal care and cosmetics products in the region. Growing demand for plastic tubes in packaging pharmaceutical products is also expected to fuel the market during the forecast period. An emerging shift from conventional rigid packaging to flexible packaging has been witnessed in the country owing to the several benefits offered by flexible packaging, including savings in transportation costs and convenience in handling and disposal.

The market players operating in the global plastic tubes market include Essel Propack, Ltd., Berry Global, Inc., MPack Poland sp. z o.o. sp.k., CCL Industries Corp., LINHARDT GmbH& Co. KG, Laminate Tubes Industries, Ltd., and others. Major companies hold around 40% market share in the global plastic tubes market. These companies have expanded their geographical presence in order to capture the market. For instance, Essel Propack, Ltd. has its footprints across 11 countries with around 20 manufacturing facilities across the globe. The company manufactures plastic tubes to cater to a wide range of customers across the globe. Further, CCL Industries Corp. is operating in more than 165 production facilities in 40 countries with corporate offices in Toronto, Canada, and Framingham, Massachusetts. Such a strong geographical presence has benefitted the companies to increase their revenue.