The US plastic tube market was $354 million in 2018 and is anticipated to grow at a substantial rate of 5.9% during the forecast period.
The plastic tube is highly suitable for the purpose of packaging of semi-liquid pharma products as they are isolated from the chemicals and do not react with the chemicals of the packaging. Therefore, the increased demand for gel and lotion packing is a major factor for increasing the use of plastic tubes in the pharmaceutical packaging market in the US. Moreover, in February 2019, the American Chemical Council's Plastics Division and the European Union (EU) had announced the target of 100% use of recyclable, reusable and compostable plastics by 2025 and 2040 respectively in their regions. These regulations are expected to shape the plastic tube packaging industry of the country in the future.
The US plastic pipe market growth is attributed to the integration of printing and design technology by plastic tube manufacturers that enhance the packaging capabilities and have strong economic prospects. Advanced packaging technology has allowed companies to introduce innovation in products rather than adhere to traditional packaging methods. Many companies, therefore, adopt sustainable and intelligent innovation in their product designs. The consumption of plastic tubes is increasing due to several benefits of plastic tubes such as ease of use, portability, and convenience. However, in many countries, plastic is banned due to its environmental effects and fluctuation in prices of raw materials which is expected to hinder the growth of the market.
The report analyzes the US plastic tube market on the basis of type and end-user. Based on type, the market is classified into polyethylene, polypropylene, polyamides, ands others. Polyethylene type of plastic pipe led the market in 2018 and is further estimated to follow the same trend over the forecast period. Based on end-user, the market is segmented into pharmaceutical, cosmetic, oral care, and others.
Furthermore, the market consists of several players that are operating and providing plastic tubes across the globe. Some of the key market players include Berry Global, Inc., Freelin-Wade Co., Cope Plastics Inc., Hudson Extrusions, Inc., Saint-Gobain Performance Plastics, Inc., and Others. These players adopt various strategies to capitalize on market growth opportunities. Mergers and acquisitions, product launch, geographical expansion, partnerships, and collaborations are the majorly adopted strategies by the market players.
The Report Covers:
A comprehensive research methodology of the US plastic tube market.
A detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the US plastic tube market.
Insights about market determinants which are stimulating the US plastic tube market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
Key Topics Covered
1. Report Summary 1.1. Research Methods and Tools 1.2. Market Breakdown 1.2.1. By Segments
2. Market Overview and Insights 2.1. Scope of the Report 2.2. Analyst Insight & Current Market Trends 2.2.1. Key Findings 2.2.2. Recommendations 2.2.3. Conclusion 2.3. Rules & Regulations