Collapsible Metal Tubes Global Market To Reach Value Of $1.4 Billion In 2025
7 Jun, 2021
The collapsible metal tubes market consists of sales of collapsible metal tubes by entities (organizations, sole traders and partnerships) that manufacture collapsible metal tubes. Collapsible tubes are composite containers used for storing and dispensing liquid formulations that have a paste like consistency like cosmetics, pharmaceutical products, paint, adhesives and ointments. Collapsible metal tubes are made of metal or thermoplastic and thus prevent toxic gases, odor and dust to enter, ensuring the natural quality of product when closed.
Global Collapsible Metal Tubes Market Size And Drivers:
The global collapsible metal tubes market is expected to grow from $1.02 billion in 2020 to $1.12 billion in 2021 at a compound annual growth rate (CAGR) of 9.32%. The growth is mainly due to the growing demand for metal tubes by the cosmetic and pharmaceutical industries. The market is expected to reach $1.44 billion in 2025 at a CAGR of 6.44%. The rising awareness and consumer’s preference towards sustainable options along with reducing plastic usage contributed to the growth of the market.
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Trends In The Global Collapsible Metal Tubes Market
The growing focus towards recycling is a key trend gaining popularity in the collapsible metal tubes market. Major companies operating in the collapsible metal tubes sector are focused on developing recyclable solutions for collapsible metal tubes in order to reduce wastage and pollution. For instance, in April 2019, Tubettificio Favia, an Italian company launched ToBeNaturAL, a collapsible aluminum tube with a biodegradable closure seal. After usage, the aluminum tube can be recycled, and the bioplastic cap can be thrown directly into household agricultural waste, where it can decompose into humus for the soil and plant food.
Global Collapsible Metal Tubes Market Segments:
The global collapsible metal tubes market is further segmented based on product type, closure type, end user and geography.
By Product Type: Twist Tubes, Squeeze Tubes, Others
By Closure Type: Fez Cap, Nozzle Cap, Flip Top Cap, Stand Up Cap, Others
By End-User: Home Care And Personal Care, Cosmetics, Industrial, Pharmaceutical, Others
By Geography: The global collapsible metal tubes market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the collapsible metal tube market in 2020.
Read More On The Report For The Global Collapsible Metal Tubes Market At:https://www.thebusinessresearchcompany.com/report/collapsible-metal-tubes-global-market-report
Collapsible Metal Tubes Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides collapsible metal tubes market overviews, analyzes and forecasts market size and growth for the global collapsible metal tubes market, collapsible metal tubes market share, collapsible metal tubes market players, collapsible metal tubes market segments and geographies, collapsible metal tubes market’s leading competitors’ revenues, profiles and market shares. The collapsible metal tubes market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.