Collapsible Metal Tubes Market Overview
Market Research Future (MRFR) confirms that the collapsible metal tubes market 2020 can potentially procure a growth rate of 4% between 2018 and 2023 (review period). MRFR cites the mounting demand for these tubes in the personal care sector as one of the prime reasons for the market strong expansion rate in the approaching years.
Primary Boosters and Main Deterrents
Leading manufacturers are trying to boost their production capacity all across the globe, given the rising demand for innovative packaging among the public. The demand for aluminum collapsible metal tubes is mounting tremendously and its popularity is only going to surge in the coming years, since these are more affordable compared to other metals like tin. Aluminum collapsible tubes are considered as highly creative packaging products available, which also help induce market growth for collapsible metal tubes.
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Some of the growth boosters in the market for collapsible metal tubes include the heightened demand for cosmetics as well as personal care products. Collapsible metal tubes are also trending because of their recyclable and easy to use properties. Another notable trend in the market is the rising preference for flexible metal tubes instead of rigid metal packaging, since the former is more economical for waste management and transportation of collapsible metal tubes.
Covid-19 analysis by MRFR reveals that the curbed consumer demand in the face of the current lockdown situation has led to massive revenue loss for auto manufacturers. Since auto-suppliers are heavily dependent on migrant labor, their absenteeism can result in sluggish revival after the lockdown, causing a domino effect throughout the value chain. Considering the short-term impact, many of the manufacturers are preparing to recuperate armed with a few initiatives. Further, these companies are exploring strategies to deal with the long term impact of COVID-19. We will provide COVID-19 impact analysis with report.
Speaking of revival tactics, some of the leading industry contenders in China such as SAIC, Volkswagen, BMW and Nissan are now exploring new avenues including online sale of cars, with the use of live broadcasts and VR and more. Likewise, another company in China, Geely has come up with contactless delivery, which ensures social distancing throughout the process and the key are delivered with the use of drones.
Leading competitors in the market are Adelphi Healthcare Packaging (U.K.), Andpak (U.S.), ESSEL PROPACK LIMITED (India), Montebello Packaging (Canada), Linhardt GmbH & Co. KG (Germany), ALLTUB (The Netherlands), Antilla Inc. (India), Universal Metal Products (U.S.), Perfect Containers Pvt. Ltd. (India), Jiujiang Deshun Adhesive Industry Co. Ltd (China), to name a few.
The collapsible metal tubes industry has been considered for product type, closure type, capacity and end-use.
The product types described in the market study are twist tube, squeeze tube, and others.
The closure type-based market segmentation comprises nozzle cap, standup cap, flip top cap, fez cap, and others.
Capacity-wise segments include less than 20 ml, 20 to 100 ml, as well as more than 100 ml.
The end-use industries that deploy collapsible metal tubes are food, pharmaceutical, homecare and personal care, cosmetics, industrial, and others.
The regional segmentation of the collapsible metal tubes market comprises Europe, North America, Asia Pacific or APAC, and the Rest-of-the-World or RoW.
In 2017, APAC emerged as the undisputed leader in the global market and has the potential to retain its lead till the end of the evaluation period. The market growth in the region is mostly due to the contribution of developing countries like India and China, known for manufacturing at cheaper production rates and then exporting to other areas at a considerable profit margin. The extensive growth of the retail industry in these countries hash led to the robust sales of collapsible metal tubes. With respect to Covid-19 breakthrough in the region, the efforts being put in to discover a vaccine is expected to work in favor of the collapsible metal tubes market. It is projected that once the lockdown period gets over, manufacturers will be redesigning operation processes to be more responsive and lean, backed by a better strategy to deal with the short-term impact of the pandemic.
By 2023, North America is touted to be one of the strongest contenders in the global market, on account of the rampant demand for personal care items and the overall growth of the cosmetics industry. Innovative and technological advanced packaging formats are expected to be introduced by leading industry participants in order to draw in more consumers in the region. The high purchasing power paired up with the high level of industrialization in the region also favors the market for collapsible metal tubes.
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