Global Aluminum Tubes Market Set to Reach US$ 1,415.44 Million by 2033 | FMI

Posted on 2024-04-22 by Future Market Insights in Retail // 0 Comments

The global aluminum tubes market is experiencing robust growth, with a valuation of US$ 820.83 million in 2023. According to market projections, the market is expected to soar at a Compound Annual Growth Rate (CAGR) of 5.6% from 2023 to 2033, reaching approximately US$ 1,415.44 million by 2033.

Key Drivers of Market Growth:

Rising Adoption in Oral Care and Cosmetics: Aluminum tubes are gaining traction in the oral care and cosmetics industries due to their superior properties such as easy molding, lightweight, and anti-corrosiveness. Manufacturers are increasingly opting for aluminum tubes over other substitutes, driving market growth.
Tamper-Proof Packaging: Aluminum tubes offer tamper-proof evidence, enhancing product quality and consumer trust. This feature, coupled with the material’s malleability, makes aluminum the preferred choice for manufacturing collapsible tubes.
Sustainability and Recycling: With a focus on sustainability, manufacturers are producing aluminum tubes from 100% recyclable aluminum. This eco-friendly approach resonates with both professionals and consumers, driving demand for aluminum tubes and contributing to market growth.

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Performance of North American Market:

The North American aluminum tubes market holds a significant market share of 22% globally. The region is poised for substantial growth, driven by increasing demand for convenient packaging solutions in sectors such as personal care, cosmetics, and pharmaceuticals. Technological advancements and product developments by market players further bolster market growth, with the United States leading in market share due to its established infrastructure and presence of key manufacturers.

Flourishing Europe Market:

Europe accounts for 26% of the global aluminum tubes market share, driven by the adoption of innovative and sustainable packaging solutions in the pharmaceutical and cosmetics industries. Recent initiatives, such as Unilever’s introduction of recyclable toothpaste tubes, have spurred further adoption of aluminum tubes in the region. The move towards recyclable packaging aligns with consumer preferences for eco-friendly solutions, driving market growth in Europe.

Competitive Landscape

Montebello Packaging, Alltub Group, Norsk Hydro, Linhardt GmbH & Co., Perfect Containers Pvt. Ltd., Tubettificio M. Favia s.r.l., Oriental Containers Pvt. Ltd is some of the key companies profiled in the full version of the report.

The leading players in the aluminum tubes market are heftily investing in innovating low-carbon aluminum products that are recyclable and cut down the cost as well to get an edge in the global market.

More Insights into the Global Aluminum Tubes Market

North America has emerged as a lucrative region in the global aluminum tubes market, garnering a total market share of 22%. The region is estimated to witness phenomenal growth across the forecast period owing to rising demand for convenient packaging solutions across several sectors, such as personal care, cosmetics, and healthcare. In addition to that, the aluminum tubes market has an impressive growth opportunity in the future due to the rising trend of flexible packaging in the future.

Rising technological advancements and product developments by the key market players are auguring growth in the market. United States is said to be accountable for considerable market share. Established and technologically advanced infrastructure in the United States is attributable to the positive market. The presence of leading manufacturers of aluminum tubes in the United States is yet another dominant reason for its growth in market.

The European region is expected to drive the market growth by accounting for 26% of the total market share. Owing to the increasing adoption of inventive and sustainable packaging solutions in the pharmaceutical and cosmetics industries is said to garner a significant share in the industry.

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Key Segments of the Global Aluminum Tubes Market

By Tube Type:

Squeeze Tube
Twist Tube
Others

By Product:

Stand-up cap
Nozzle Cap
Flip Top Cap
Other Caps

By Capacity:

Less than 50 ml
50 to 100 ml
100 to 150 ml
Above 150 ml

By End User:

Cosmetics and Personal Care
Food
Pharmaceuticals
Industrial
Homecare
Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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