May 18, 2024
Collapsible Metal Tubes Market

Collapsible Metal Tubes Market is Estimated to Witness High Growth Owing to Increasing Demand for Convenient Packaging Solutions

The collapsible metal tubes market has been growing steadily over the past few years owing to the rising demand for convenient and compact packaging solutions. Collapsible metal tubes provide a hygienic and cost-effective packaging option for various personal care and healthcare products such as toothpastes, hair gels, pharmaceutical ointments and creams. They protect products from contamination while allowing for precise and complete dispensing of contents.

The Global collapsible metal tubes market is estimated to be valued at US$ 11.76 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the collapsible metal tubes market are PPG Industries, Akzo Nobel N.V., Sherwin-Williams Company, BASF SE, The Dow Chemical Company, Arkema Group, RPM International Inc., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems Ltd., Asian Paints Limited, Kansai Paint Co., Ltd., Jotun Group, Sika AG, Hempel A/S, Benjamin Moore & Co. These companies dominate the market with their wide product portfolio and global production and distribution networks.

The key opportunities in the market include expanding into developing markets in Asia Pacific and Latin America, developing innovative environment-friendly coating solutions and providing customized product development as per end-use industry requirements.

The global expansion of Collapsible Metal Tubes Market Size is spearheaded by the key players through strategic acquisitions of local players, partnerships with regional distributors and establishing manufacturing plants in high growth regions. This helps them reduce costs and better serve customers.

Market Drivers

One of the key drivers for the growth of collapsible metal tubes market is the increasing demand from the personal care industry. The demand for cosmetic and skincare products is rising exponentially worldwide due to growing consumer spending on personal grooming and higher focus on aesthetics. Collapsible metal tubes provide an ideal packaging solution for creams, gels, pastes and other semi-solid personal care products keeping them fresh for longer. The compact size and easy usability of collapsible metal tubes also drives their increasing preference across industries.

PEST Analysis

Political: Regulations regarding packaging of food and cosmetics products are influencing the metal tubes market growth. Authorities have imposed certain rules and guidelines for packaging that need to be followed by manufacturers.

Economic: Rising disposable income levels and changing lifestyles are encouraging the demand for premium and innovative packaging solutions like collapsible metal tubes. High demand from personal care and cosmetics industries is fueling market revenue.

Social: Growing preferences of consumers towards convenient, portable and eco-friendly packaging is positively impacting the sales of collapsible metal tubes. Increased health awareness is also driving the consumption of products packed in these tubes.

Technological: Manufacturers are focusing on developing advanced coating technologies to provide protection against corrosion and enhance product shelf life. Lightweight and customized designs with improved functionalities are gaining traction.

Europe market concentration

Europe accounts for the largest share in terms of value owing to high consumption of cosmetics and personal care products in countries like Germany, UK, France, Italy and Spain. Strong presence of key manufacturers is another factor augmenting the regional market.

Fastest growing region – Asia Pacific
Asia Pacific market is projected to witness the fastest growth during the forecast period due to rising expendable incomes, expanding middle class population and improving living standards in countries like China, India and South Korea. Increasing consumer buying power is elevating the sales of premium packaged products in the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it