Cosmetics and pharmaceutical companies are some of the key end users of collapsible metal tubes market. Growing use of these tubes in cosmetics and pharmaceutical industries is pegged to stimulate the growth of the global collapsible metal tubes market. Several companies in this market have increased their efforts to improve their production capabilities. This shift can be attributed to the need for meeting the growing demand from various end-user sectors. As a result, the revenues of the global collapsible metal tubes market are poised to touch the higher volumes during upcoming period.
Key use of collapsible metal tubes is to store viscous liquids such as ointments, artist’s paint, toothpaste, caulk, adhesives, and so on. Generally, collapsible metal tubes are cylindrical structures with an oval or round shape. On one end of the tube body, there is a spherical orifice, which is closed by various types of closures or caps. Growing consumer intolerance toward plastic and plastic packaging is boosting the global collapsible metal tubes market.
Collapsible metal tubes are gaining popularity owing to the extended durability they offer to the contents of the products. At the same time, they have exceptional barrier properties. Many vendors engaged in the global collapsible metal tubes market have increased investment in research activities. One of the key aims of these strategies is to implement advanced technologies while manufacturing their products.
The global collapsible metal tubes market was valued at US$ 1,069.4 Mn in 2016 and is expected to be valued at US$ 1,550.8 Mn in 2025. The market is characterized by growing demand of collapsible metal tubes owing to their wide-spread usage in pharmaceutical and cosmetics industry. The global collapsible metal tubes market is expected to expand at a CAGR of 4.3% in terms of market value during the forecast period, 2017-2025.
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Consumer demand is rising due to intolerance towards plastic and plastic packaging. The market is also marked with the advancement in the manufacturing technology. The manufacturers of collapsible metal tubes around the world have also experienced the rise in demand owing to their superior barrier properties and extended shelf life they provide to the contents. Manufacturers are observed to focus more on expanding production capacity to meet soaring demand. The global revenues will be predominantly driven by the pharmaceutical sector.
Key market characteristics observed in the global market for collapsible metal tubes include high demand for private label brands and various expansion activities by key players of the collapsible metal tubes market. The demand for high capacity collapsible metal tubes production lines is also rising. The market volume is expected to expand 1.4X during the forecast period 2017-2025. Transparency Market Research, in its report titled, “Collapsible Metal Tubes: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017-2025,” has segmented the global collapsible metal tubes market by product type, closure type, capacity, end-use, and geographic regions.
On the basis of product type, the global collapsible metal tubes market is segmented into squeeze tube, twist tube, and others. The squeeze tube is the leading segment with a market share of over half of the global market. ‘Others’ segment is the fastest growing segment due to a high scope of innovative packaging and rapidly increasing consumer preference for metal tubes. The twist tube segment contributes only one-fifth to the market globally.
On the basis of closure type, the market is segmented into stand up cap, nozzle cap, fez cap, flip top cap, and others. The stand up cap is the leading segment with the market share of around one third of the total market. ‘Others’ will be the fastest growing segment. Based on capacity, the market is segmented into less than 20ml, 20 to 100ml, and more than 100ml. Less than 20ml is the dominant segment while more than 100ml is the fastest growing segment.
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On the basis of end-use, the market is segmented into cosmetics, home care & personal care, industrial, pharmaceutical, food, and others. Pharmaceutical segment is the most dominant segment with over half the share of the global market. Food and ‘others’ will represent the fastest growing segments.
The global collapsible metal tubes market is segmented geographically into five key regions including North America, Latin America, Europe, Middle East and Africa (MEA) and Asia Pacific (APAC). While APAC will remain dominant over others, Europe and North America will also maintain the key market positions with considerable market value shares over the forecast period.