Characterized by the presence of a massive pool of established participants, the global aluminum barrier laminate tubes market appears highly competitive, states a new research report by Transparency Market Research (TMR). Thus far, the leading companies, such as Ambertube, Essel Propack, Pirlo, Montebello Packaging, Hoffmann Neopac, Linhardt, Impact Int., Huhtamaki, Tubapack, and Intrapac Int., have been relying upon the technological advancements of their products in a bid to strengthen their businesses. However, with the rising competition within the market, these players are likely to focus on expanding their regional presence to gain an edge over their rivals, notes the research study.
According to TMR’s estimations, the worldwide market for aluminum barrier laminate tubes will arrive at US$772.3 mn by 2017. The opportunity in this market is projected to further rise at a CAGR 5.50% during the period of 2017–2022 and reach a value of US$1.01 bn by the end of the forecast period. 50 to 100 ml aluminum barrier laminate tubes enjoy a relatively higher demand across the world and are likely to remain doing so over the next few years, states the research report.
Rising Demand for Premium Consumer Goods to Boost Market’s Growth
“The global market for aluminum barrier laminate tubes is observing a noticeable surge in its valuation, thanks to the significant rise in the packaging industry across the world,” says a TMR analyst. Across the world, aluminum barrier laminate tubes majorly find application in premium consumer goods, such as premium dental creams, antiseptics, oils, and adhesives, and, nowadays, they are also being utilized for the packaging food products. With the rising demand for premium consumer goods, the worldwide market for aluminum barrier laminate tubes is anticipated to witness a significant rise in the years to come.
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Going forward, the increasing awareness among consumers pertaining to the eco-friendliness of aluminum barrier laminate tubes, in comparison with ordinary plastic tubes, is also projected to boost their demand in the near future, propelling this market tremendously. However, the high cost associated with aluminum barrier laminate tubes may limit their reach among consumers, leading to adverse impact on the growth of this market in the near future, states the research report.
Europe to Maintain its Dominance in Near Future
The research report also evaluates the global aluminum barrier laminate tubes market on the basis of its regional presence. As per the research study, Asia Pacific excluding Japan (APEJ), the Middle East and Africa (MEA), Latin America, Europe, North America, and Japan are the main regional markets for aluminum barrier laminate tubes across the world.
Thanks to the high purchasing power of people, enabling them to afford premium consumer goods, Europe acquired the leading position in the global market. Ensuring its dominance over the period of the forecast, the Europe market for aluminum barrier laminate tubes is anticipated to register a CAGR of 5.50%, reports the market study.
