The plastic tubing market is expected to generate US$959 million. While the production of plastic tubes has reached an all-time high, Tier 1 companies are expected to contribute between 10% and 15% to the market as a whole. Between 2021 and 2031, sales of plastic tubing are expected to grow at a CAGR of 5.0%.
Further, the US plastic tubing market is expected to grow at a CAGR of 3.8%, with North American sales reaching over US$213 million in 2021. Additionally, the report forecasts that by 2021, the plastic tubes represent 30% of the market. for packaging tubes, worth more than US$3.1 billion. In terms of applications, the dental, cosmetic and pharmaceutical segments will account for more than 83.1% of market demand in 2021.
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How will the increase in the consumption of cosmetic products increase the sales of plastic tubes?
The global cosmetics and beauty industry is one of the frequent end users of plastic tubing. The growing awareness of wellness and beauty is driving the cosmetics and personal care industry.
Hence, the consumption of cosmetic plastic tubes in these industries for skin, hair and body care is one of the major factors driving the sales in the plastic tubes market.
Millennials have become more cautious and keen to maintain their health. Additionally, the growing penetration of social media and the internet highlights the importance of skin and hair care routines.
Due to the above-mentioned factors, the consumption of plastic tubes in the cosmetics industry is expected to increase in the coming years. Moreover, plastic tubes are mainly used to package anti-aging creams, shampoos, conditioners and other cosmetic products.
Leading plastic tube producers focus on using environmentally friendly materials, hygienic solutions and superb visual aesthetics.
Producers are gradually substituting eco-friendly materials for plastic to reduce environmental impact and improve the footprint of packaging solutions.
Large companies increase their sales by combining sustainable materials with eco-design principles that use recycled materials, renewable resources and product safety. Also, they focus on providing cutting-edge plastic tubing while seeking strategic alliances with other companies for sustainable tubing packaging.
Vicco Labs and EPL Limited partnered in November 2021 to develop the company’s turmeric product line and introduce Vicco Turmeric’s sustainable tube packaging.
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Profiled Key Companies
Bay Global Inc.
CCL Industries Inc.
LINHARDT GmbH & Co. KG
Hoffmann Neopac AG
Pirlo Holding GmbH
CTL-TH Packaging SL
Antilla Propack Inc
Plastic Tubes Market by Category
Polymer of ethyl vinyl alcohol (EVOH)
Polyethylene terephthalate (PET)
Less than 50ml
51 to 100ml
101 to 150ml
Business and processing applications
Middle East and Africa
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About the IGF
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
This press release was published on openPR.