The
global
aluminum barrier laminate (ABL) tubes market
is highly competitive, thanks to the presence of a number of players,
states a new report by Transparency Market Research (TMR). The
leading companies in this market rely heavily on technological
advancements of their existing products in an effort to strengthen
their position among consumers. However, the competition within the
market is expected to intensify further and the leading players are
projected to shift their focus towards expanding their regional reach
in the near future. Ambertube, Pirlo, Essel Propack, Montebello
Packaging, Linhardt, Hoffmann Neopac, Impact Int., Tubapack,
Huhtamaki, and Intrapac Int. are some of the leading players in this
market, reports the research study.
As per the report’s estimations,
the overall opportunity in the global market for aluminum barrier
laminate tubes touched US$772.3 mn by 2017 end. Analysts anticipated
the market to proliferate at a CAGR of 5.50% over the period from
2017 to 2022 and attain US$1.01 bn by the end of the period of the
forecast. In terms of capacity, the 50 to 100 ml aluminum barrier
laminate tube segment witnesses a relatively greater demand across
the world and this trend is predicted to remain so over the next few
years.
On the basis of geography, the
worldwide market for aluminum barrier laminate tubes registers its
presence across the Middle East and Africa (MEA), Latin America,
North America, Europe, Asia Pacific excluding Japan (APEJ), and
Japan. Among these, Europe has surfaced as the market leader and,
expanding at a CAGR of 5.50% between 2017 and 2022, this regional
market is anticipated to continue on the top over the forthcoming
years, states the market report.
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“The global market for aluminum
barrier laminate tubes has gained significant momentum, thanks to the
constant rise in the packaging sector across the world,” says an
analyst at TMR. Globally, aluminum barrier laminate tubes find
substantial application in premium consumer goods, such as premium
oils, antiseptics, dental creams, and adhesives, and, these days,
they are also being thoroughly utilized in the packaging of food
products. The augmenting demand for premium consumer goods is
expected to drive the growth of the worldwide market for aluminum
barrier laminate tubes in the years to come, states the research
report.
High Cost to Limit Uptake
On the other hand, the high cost
of aluminum barrier laminate tubes is expected to limit their reach
among consumers across the world, leading to a slowdown in the growth
rate of this market to some extent in the near future. However, the
rising awareness among consumers regarding the
environment-friendliness of aluminum barrier laminate tubes, when
compared to ordinary plastic tubes, is also anticipated to fuel their
demand over the next few years, propelling this market tremendously,
notes the research study.
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