Albany, NY -- (SBWIRE) -- 04/17/2019 -- The global aluminum barrier laminate 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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global aluminum barrier laminate abl tubes marketIncreasing Demand for Premium Consumer Goods to Boost Market
"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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