Manufacturers across industries are focusing on new product development and product enhancement to grab major hold in the global market. Different types of products are being shipped across major revenue pockets in the globe. In addition, manufacturers are focusing on enhancing their visibility through branding and product promotions. This has triggered the use of attractive packaging solutions. The adoption of composite cardboard tubes in packaging luxury and premium products is growing at a higher rate as they offer both safety functionality and appeal. These packaging solutions are widely used owing to the convenience they offer coupled with cost effectiveness.
According to Future Market Insights, the demand for composite cardboard tubes is expected to increase at a steady rate throughout the period of assessment (2017-2026). By the end of the year of assessment, the sale of composite cardboard tubes is expected to reach a value of over US$ 2 Bn.
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Leading players involved in manufacturing of composite cardboard tubes are focusing on enhancing the features of their products by incorporating more strength, higher flexibility and increased sustainability. Players such as Marshall Paper Tube Co., Inc., Chicago Mailing Tube Co., Paper Tubes & Sales, Heartland Products Group, Darpac P/L and Cactus Corrugated Containers Inc., are focusing on product differentiation and enhancing their product pipeline to cater to the growing demand for composite cardboard tubes worldwide.
Cosmetics and Personal Care End Use Industry to Offer Potential Opportunities for Composite Cardboard Tube Manufacturers
The use of composite cardboard tubes in cosmetics and personal care sector is increasing at a high rate as compared to other end use industries. The rate of adoption of composite cardboard tubes in this sector is projected to expand at a meteoric rate of over 8% in the years to follow. Moreover, as per research carried out on use of composite cardboard tubes in various industries, the sale of composite cardboard tubes in cosmetics and personal care sector is poised to reach a significant valuation by the end of the year of forecast. Also, use of composite cardboard tubes in food and beverages has been high since past years. Sale of composite cardboard tubes in this sector is anticipated to touch a value of over US$ 890 Mn by 2026 end.
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APEJ to Grab a Major Share in the Global Composite Cardboard Tubes Market
Numerous packaging companies are based in Asia Pacific excluding Japan (APEJ) and are targeting manufacturing hubs in the region such as India and China. These emerging economies exhibit favourable environment for several industries. The growth in the manufacturing sector in these areas has offered huge growth opportunities for packaging players. According to the research report, by the end of the period of assessment, APEJ composite cardboard tubes market is expected to touch a high market valuation of over US$ 800 Mn. It is a highly lucrative region for manufacturers involved in composite cardboard tubes.
Ring Lid Foil Assembly to be Largely Used for Packaging Purposes
Composite cardboard tubes packaging comes in different lid types. Few of these include ring lid foil assembly, ring pull style, slip lid and peel-off membrane. Of these, the packaging solution with ring lid foil assembly has shown higher sales since past years. In the years to follow, this type of lid assembly is estimated to reach a higher sales figure of over US$ 600 Mn. Advantages such as zero spillage, higher durability and enhanced protection from external agents such as heat/temperature, chemicals and high loads are expected to contribute to the popularity of ring lid foil assembly.
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Corrugated Boards to Gain High Traction in Various End Use Industries
With respect to material type, corrugated boards are gaining high traction in various end use industries. These boards offer several packaging benefits, for instance sustainability, convenience and robustness along with flexibility. The sale corrugated boards is rising across the globe and is poised touch a market valuation of more than US$ 1 Bn by the end of the year of assessment (2026) owing to high adoption of corrugated boards as compared to paperboards.