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Major players in the tube packaging market are Albea SA , Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc, Montebello Packaging Inc. , VisiPak Inc. , Intrapac International Corporation, CCL Industries Inc.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Tube Packaging Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06371389/ ?utm_source=GNW
Hoffman Neopack AG, Huhtamaki Oyj, CTL Packaging USA, HCT Packaging Inc., Maynard & Harris Plastics, Printpack Inc., and Silgan Holdings Inc.
The global tube packaging market is expected to grow from $9.35 billion in 2021 to $10.11 billion in 2022 at a compound annual growth rate (CAGR) of 8.12%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic , at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The tube packaging market is expected to reach $13.73 in 2026 at a compound annual growth rate (CAGR) of 7.96%.
The tube packaging market consists of sales of tube packaging by entities (organizations, sole traders, and partnerships) that are used for packing various gel-like materials such as creams, ointments, gels, and other thick liquids. Tube packaging is a cylindrical shape Packaging in which the material to be packed is enclosed in various types of materials such as plastic, paper, and aluminum are used for making tube packaging.
The types of tube packaging are laminated, aluminum, and plastic. Laminate tubes refer to a hybrid of aluminum tubes and plastic tubes.
It has multiple layers of plastic separated by layers of aluminum foil. The types of packages include squeeze, twist, stick, cartridges, and other package types.
The various applications include oral care, cosmetics, food & beverage, pharmaceuticals, cleaning products, and other applications.
North America was the largest region in the tube packaging market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in tube packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the flexible packaging industry is expected to propel the growth of the tube packaging market going forward. Flexible packaging refers to the packaging of products using non-rigid materials.
Flexible packaging helps the tube packaging market to grow by packing consumer and institutional products and in industrial applications, to market, protect, and distribute different products. For instance, in 2019, according to the Flexible Packaging Association, a US-based association of flexible packaging manufacturers, the flexible packaging industry generated $33.6 billion in sales and it was the second largest packaging segment in the US and generated 19% of the packaging sales in the US Therefore the growth of the flexible packaging industry is driving the growth of the tube packaging market.
Technological advancements are a key trend gaining popularity in the tube packaging market. Major companies operating in the tube packaging market are constantly developing new technologies such as ‘recyclable tube packaging’ to sustain themselves in the tube packaging market.
For instance, in November 2019, Essel Propack Ltd, an Indian laminated plastic tube manufacturer, launched Platina 250 and Green GML 33 Lamitubes, based on recyclable HDPE technology and are recognized by the Association of Plastic Recyclers, USA. kind in the tube packaging and help brands to convert to sustainable barrier packaging formats which are recyclable.
In November 2021, Sonoco, a US-based packaging company, acquired D&W paper Tubes Inc. for an undisclosed amount. The acquisition would be complementary to the industrial paper packaging business of Sonoco and help extend the product operations of Sonoco in the Southeast. D&W Paper Tubes is a US-based manufacturer of sustainable industrial paper tubes and cores operating in the tube packaging market.
The countries covered in the tube packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The tube packaging market research report is one of a series of new reports that provides tube packaging market statistics, including tube packaging industry global market size, regional shares, competitors with a tube packaging market share, detailed tube packaging market segments, market opunit trends and , and any further data you may need to thrive in the tube packaging industry. This tube packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06371389/?utm_source=GNW
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