Aluminum Barrier Laminate (ABL) Tubes Market is set to 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.

Albany, NY -- (SBWire) -- 05/21/2019 --With the significant rise in the packaging industry across the world, the global market for aluminum barrier laminate tubes has witnessed a tremendous surge in its valuation and size. Aluminum barrier laminate tubes are majorly utilized for the packaging of various consumer goods, such as premium dental creams, antiseptics, oils, and adhesives, worldwide. These tubes are apt for food products as well. As the demand for premium consumer goods is increasing substantially, the market for aluminum barrier laminate tubes is expected to witness a noticeable growth, globally, in the years to come.

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By 2017, the worldwide aluminum barrier laminate tubes market is anticipated to offer an opportunity worth US$772.3 mn. It is expected to rise further at a CAGR of 5.50% between 2017 and 2022 and attain a value of US$1.01 bn by the end of 2022. The rising awareness among consumers regarding the eco-friendliness of aluminum barrier laminate tubes when compared to ordinary plastic tubes is also expected to boost their demand in the near future, reflecting greatly on this market.

50 to 100 ml Segment to Dominate Global Aluminum Barrier Laminate Tubes Market

In general, the global aluminum barrier laminate tubes market is evaluated on the basis of the capacity, type of the cap, and the end users. In terms of capacity, the market is classified into less than 50 ml, 50 to 100 ml, 101 to 150 ml, and above 150 ml. Among these, the most prominent segment in this market is the 50 to 100 ml segment, which is likely to remain on the top over the next few years.

Stand-up cap, fez cap, nozzle cap, and flip top cap are the main segments of this market on the basis of the type of the cap and the cosmetics, commercial, oral care, home and other personal care, pharmaceuticals, and the food industries are the prime end user of aluminum barrier laminate tubes.

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Europe to Surface as Leading Regional Market for Aluminum Barrier Laminate Tubes

The Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), Latin America, North America, Europe, and Japan are the prime regional markets for aluminum barrier laminate tubes across the world. Of these, Europe has surfaced as the leading contributor to the global market for aluminum barrier laminate tubes, thanks to the high disposable income of people in this region that allow them to spend on expensive premium consumer products. Expanding at a CAGR of 5.50% over the period of 2017–2022, the Europe market for aluminum barrier laminate tubes will continue to lead the global market over the next few years.