The sales in the global multiflex tubes market are projected to create an absolute dollar opportunity of nearly USD 900 Million through 2032, exhibiting growth at a CAGR of around 6% to 7% during the assessment period 2022 to 2032. The demand for multiflex tubes is estimated to surpass a valuation of USD 1.9 Billion by the end of 2032, in comparison to the USD 1 Billion registered in 2021.
| Report Attribute | Details |
|---|---|
| Multiflex Tubes Market Base Year Value (2021) | USD 1 Billion |
| Multiflex Tubes Market Expected Value (2022) | USD 1.1 Billion |
| Multiflex Tubes Market Anticipated Value (2032) | USD 1.9 Billion |
| Multiflex Tubes Market Projected Growth Rate (2022 to 2032) | 6% to 7% CAGR |
Multiflex tubes, commonly known as laminated tubes, are a type of packaging solution made up of multi-layered laminate foil of plastic or aluminum. These tubes represent a hygienic, easy-to-use, and safe way of packaging.
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Adoption of multiflex tubes is increasing at a swift pace across various industries, owing to their impermeable surface barrier properties against moisture, ultraviolet (UV) lights, & and tamper-proof storage for liquid, gels, and pastes. It is increasingly being used for packaging products such as toothpaste, shaving gels, face creams, body lotions, sunscreens, foundations, and many others.
Hence, growing sales of aforementioned products across the world, on account of the increasing consumer spending on personal hygiene and enhancing facial aesthetics are estimated to accelerate the demand for multiflex tubes in the global market. In addition to this, a number of key manufacturers are emphasizing providing customized multiflex tubes with glossy or matt surface finishes and 3D printing as per the end-user requirement. This is further estimated to facilitate growth in the market.
Despite a number of benefits associated with the adoption of multiflex tubes, increasing availability of alternate packaging solutions such as collapsible aluminum tubes is expected to hamper the demand in the global market. In addition to this, the implementation of stringent regulations concerning the use of plastics across Europe, North America, and Asia Pacific is projected to restrain the sales of multiflex tubes in the plastics segment.
As per a study by FMI, North America is anticipated to exhibit rapid growth in the global multiflex tubes during the forecast period 2022 to 2032.
The growing adoption of innovative packaging solutions across personal care, cosmetics, consumer goods, pharmaceuticals, and home care industries for providing leakage-proof packaging for volatile substances and sensitive products is favoring the demand for multiflex tubes.
Hence, leading players in the market are focusing on adoption strategies such as mergers and acquisitions for increasing their production capacity of packaging solutions. For instance, in 2019, Blackstone Group, an American specialty packaging company announced acquiring majority stakes in an Indian tube-packaging company, Essel Propack Ltd. A slew of such developments is expected to augment the growth in the North American market.
Future Market Insights reveals that Europe is forecast to account for a significant share of the global multiflex tubes market from 2022 to 2032.
With the growing usage of multiflex tubes and rising concerns regarding environmental sustainability, a number of manufacturers are aiming at introducing novel products with lesser environmental impact.
For instance, in October 2019, Albea S.A., a French manufacturer of beauty, personal care, and pharma packaging solutions announced launching a new eco-designed plastic barrier multiflex tube, the Greenleaf tube, which has a lower impact on the environment. A multiplicity of such new product launches is estimated to drive sales in the Europe market.
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Some of the leading players in the global multiflex tubes market are Linhardt GmbH & Co. KG, TUBAPACK, a.s., Blackstone Group, Essel Propack Limited, LAGEENTUBES, ALLTUBE, SelectPackaging Limited, Auber Packaging Co., Ltd., Adelphi Healthcare Packaging, InterPac International LLC., and others.
Prominent manufacturers in the global market are focusing on launching multiflex tubes with environment-friendly designs and adopting merger & acquisition strategies to gain an edge in the highly competitive market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6% to 7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Product Type, Closure Type, Capacity, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Companies Profiled | Linhardt GmbH & Co. KG; TUBAPACK, a.s.; Blackstone Group; Essel Propack Limited; LAGEENTUBES; ALL TUBE; SelectPackaging Limited; Auber Packaging Co., Ltd.; Adelphi Healthcare Packaging; InterPac International LLC.; Others |
| Customization | Available Upon Request |
FMI projects the sales of multiflex tubes in the market are expected to rise at 6% to 7% value CAGR by 2032.
The global multiflex tubes market is anticipated to be dominated by North America over the forecast period 2022 to 2032.
Linhardt GmbH & Co. KG, TUBAPACK, a.s., Blackstone Group, Essel Propack Limited, LAGEENTUBES, ALLTUBE, SelectPackaging Limited, Auber Packaging Co., Ltd., Adelphi Healthcare Packaging, InterPac International LLC., and others some of the leading players in the global multiflex tubes market.
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