The global sales plastic caulk tube Market are estimated to be worth USD 3.3 billion in 2021 and are anticipated to reach a value of USD 5.7 billion by 2031. Sales are projected to rise at a CAGR of 5.5% over the forecast period between 2021 and 2031. The revenue generated by plastic caulk tube in 2020 was USD 3.2 billion.
The plastic caulk tube industry is experiencing the robust growth due to expansion of construction and renovation activities. The increasing preference for durable and user-friendly designs solutions for sealant and adhesive industry is infusing the market demand. These tubes have wide application in adhesive sealants and caulking compounds. These tubes have benefits like lightweight, resistant to corrosion, and long shelf life.
Global Plastic Caulk Tube Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 3.2 billion |
| Estimated Size, 2021 | USD 3.3 billion |
| Projected Size, 2031 | USD 5.7 billion |
| Value-based CAGR (2021 to 2031) | 5.5% |
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The demand for caulk as a sealant material is rising due to its wider applications in construction for convenient fitting of pipes and building equipment. The caulk tubes are mainly made up of plastic and paperboard, but plastic caulk tubes are accepted worldwide for several applications related to adhesion. Caulk tubes protect the material and allow the end-users to apply it in an optimal condition.
Manufacturers of plastic caulk tubes also offer tubes made up of recyclable material such as bioplastics. The plastic caulk tubes market is expected to grow significantly over the upcoming decade.
The regular household usage of plastic caulk tubes in households facilitates easy applications in day to day works, household demand for caulk tubes will drive the demand for the same.
In the construction and industrial sector the plastic caulk tubes is of great value, due to their lightweight and easy application features that make them easier to handle even by less-skilled workers in the bigger operational sites. So, the growth of the building & construction sector along with the manufacturing sector has a direct contribution to the growth of the plastic caulk tube market.
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The government rules and regulations worldwide banning and limiting the usage of plastics directly or using as raw materials are directly limiting the growth of the plastic caulk tube market globally. The increasing demand for sustainable materials such as paperboard for making caulk tube is affecting the market demand for plastic caulk tubes market.
Usage of recyclable and renewable types of plastics such as HDPE (high-density polyethylene) as sustainable raw materials for manufacturing caulk tubes can help manufacturers to present themselves as green practitioners. The plastic caulk tubes which are an easy fit in caulk guns are trending in the market and will be holding a major market share over the forecasted period.
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The rate of infrastructural development and the ongoing boom in the building and construction sector in both countries of India and China makes them major market shareholder due to large demands coming through major end-use industries of plastic caulk tubes market. Overall the market is set to grow in value and volumes in both India and China for the upcoming decade.
Germany is one of the leaders in the automation and aerospace industry, the growth of the aerospace industry and the development of manufacturing facilities is the direct positive indicator for the growth and increased usage of the plastic caulk tubes market in the country over the forecasted period.
The already matured market of a plastic caulk tube is moving towards expansion in the USA due to the spread of manufacturing industries and construction services in all parts of the country.
The plastic caulk tube is expected to grow due to the usage of recyclable plastics which are termed sustainable, and also the growing demand for caulk tubes in the household sector is set to contribute to the growth of the same.
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Plastic Caulk Tube Market
