Made primarily from plastic compounds, for fluid flow or structural systems, plastic tubing finds extensive use as sheathing or insulation material for heating or electric setups. Plastic tubes are very popular owing to a large number of benefits arising from its physical characteristics. These include versatility in rigidity or flexibility, light weight, and durability. This makes it a very commonly used component in transporting a variety of gases and fluids in numerous processes involving hydraulics, pneumatics, and healthcare among others.
Plastic tubes are also very popular as they can be made from a wide range of raw materials such as poly vinyl chloride, ethyl vinyl acetate, polyurethane, fluoropolymers, polypropylene, polytetrafluoroethylene, polyketones, polyvinylidene fluoride, and nylon. Rapidly increasing industrial applications, particularly in emerging economies is widely considered to be a major influencer that is anticipated to aid in the growth of the global plastic tubes market. Other factors affecting market players in the field may involve:
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- Of the various raw materials involved in the production of plastic tubes, polyethylene is the most widely preferred by users and manufacturers. This can be largely be attributed to factors such as improvements in resistance to fatigue, corrosion, along with greater scope for adaptability and longer service lives. Easy availability and affordability of the material is projected to increase the prospects of the global plastic tubes market.
- Developing economies in Asia and Africa such as China, North Africa, and India are providing plastic tube manufacturers with major opportunities for growth, owing to increased application of plastic tube materials in the rapidly expanding personal care product manufacturing industry in these countries.
- Regional players in the Middle East and Africa or Asia Pacific excluding Japan are working on improving value addition to their products with the aim of meeting the demand for affordability in products, which is anticipated to assist in the demand in the global plastic tubes market.
- The growth of the market can also be attributed to increased customization being offered the availability of design and printing technology, and changes to dimensions for easy portability and optimized use.
Global Plastic Tubes Market: Introduction
A recent research study featuring plastic tubes market across the globe has been added to the research repository of Future Market Insights. The report titled “Plastic Tubes Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” includes in-depth analysis on each segment of the market and its scenario across key regions in the globe. In this comprehensive research report, the regions such as North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA) are assessed to gain complete market intelligence.
The research report covers various influencing factors that have a direct or indirect impact on the growth of the global plastic tubes market. Future value and volume projections for a period of 10 years have been included in this extensive research report.
Global Plastic Tubes Market: Forecast Highlights
The global plastic tubes market is expected to grow at a high rate to reflect a value CAGR of 5.6% during the period of forecast. It is projected to reach a valuation of more than US$ 1,500 Mn by the end of the year of assessment from an estimated value of about US$ 928 Mn in 2017.
Global Plastic Tubes Market: Dynamics Influencing Growth
Aspects such as increasing application in the cosmetic sector, growing adoption of plastic tubes over aluminium tubes, strong economic prospects in various regions pushing the use of plastic tubes application, rapidly growing hair and skin care industries, benefits such as ease of use, convenience, portability and innovative design and printing technology to enhance product offerings for manufacturers is expected to drive growth of the global plastic tubes market.
However, rising competition from substitute packaging formats such as stick packs, airless pumps and pouches, restricted scope of application in food products, increasing intolerance towards plastic and high preference for collapsible aluminium tubes for pharmaceutical applications are hindering the growth of the global plastic tubes market.
Global Plastic Tubes Market: Segmental Insights
The global market for plastic tubes has been segmented on the basis of material type, closure type, capacity type, application and region.
- By capacity type, 100 to 150 ml segment is estimated to be the largest in terms of market value and is projected to grow at a high value CAGR of 6.0% throughout the period of assessment
- By material type, polyethylene segment is the largest and is expected to dominate the global market. In 2017, this segment is estimated to be valued at above US$ 500 Mn
- By closure type, stand up caps segment is the fastest growing segment and is expected to reach a high value CAGR of more than 6.0%
- By application, cosmetic market segment is expected to lead the market with a high market valuation of around US$ 900 Mn by the end of the assessment year
- By region, Asia Pacific Excluding Japan reflects high potential for growth and the plastic tubes market in this region is projected to grow at a value CAGR of 6.9% during the period of forecast
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Global Plastic Tubes Market: Competitive Scenario
The research report on the global plastic tubes market covers detailed analysis on various companies participating in the global market. Major players such as Essel Propack Ltd., Albea S.A., Berry Global, Inc., CCL Industries Inc., Linhardt GmbH & Co KG, Huhtamaki Oyj, Bowler Plastics (Pty) Ltd., Al Obeikan Investment Group, Astrapak Limited, 3P Gulf Group, Lasheen – United Egyptian Co. For Printing, Emold Services Cc, Laminate Tubes Industries Ltd., National Company for Packaging Industries, Arapoush Gostar Co., Moheb Qazvin Packing & Plastic Industrial Co., Novopak, Akplast Plastik Tüp ve Amb. San. Tic. Ltd. Şti., Perfektüp Ambalaj San. ve Tic.A.Ş., and Lageen Ltd., are featured in this research report