by Building construction material packaging includes various packaging solutions for construction materials like tubes, boxes, rolls, shrink wraps and others. Construction materials like cement, tiles, bricks, paints and others require secure and durable packaging for transportation and storage without damage. Tube packaging provides leakproof and tamper proof packaging solutions for construction materials like mortar, adhesives and others. Tubes ensure minimum wastage of content during application and easy dispensing.
The global tube packaging market is estimated to be valued at US$ 12195.04 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Tube packaging offers the opportunity to lower transportation costs for construction materials. Tube packaging requires minimal raw materials and is lightweight compared to alternative packaging formats like boxes, barrels and plastic containers. The lightweight nature and stackable design of tubes allow efficient loading of larger quantities in trucks and ships compared to rigid containers. This helps optimize the payload and reduce excess weight during transportation. The efficient loading and carriage of construction materials in tubes leads to lower fuel consumption and freight charges. Construction projects located in remote areas can especially benefit from the cost savings achieved through tube packaging during transportation of materials. Overall, tube packaging presents the substantial opportunity to lower supply chain expenses for building material manufacturers and construction companies.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the tube packaging market is moderate as extensive capital investments are required to setup the manufacturing facility. Moreover, the established brands have strong relationships with customers which creates barrier for new players.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many local and international players providing various packaging options. Also, switching costs are low for buyers in this market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have limited control over pricing due to availability of substitutes.
Threat of new substitutes: The threat of new substitutes is low in this market as tube packaging is recyclable, affordable and multipurpose. However, flexible packaging substitutes pose moderate threat due to their wide applications.
Competitive rivalry: The competitive rivalry in tube packaging market is high due to presence of numerous national and international brands providing price-based competition.
SWOT Analysis
Strength: Tube packaging provides barrier protection, moisture resistance, affordability and reusability. It has wide applications in personal care, food, pharmaceutical and adhesive industries.
Weakness: Tube packaging materials have limited design versatility and graphic capabilities. Raw material price fluctuations can impact the overall cost of tube packages.
Opportunity: Growing e-commerce industry demands innovative, small and flexible packaging solutions. Increasing demand for portable and stand-up pouches in food and cosmetic sectors offers growth prospects.
Threats: Stringent government regulations regarding use of plastics and adoption of eco-friendly alternatives pose significant threats. Substitutes like flexible pouches and laminated tubes are gaining traction.
Key Takeaways
The Global Tube Packaging Market Demand size is projected to grow at a CAGR of 4.5% during the forecast period of 2024 to 2031. The market is estimated to reach a value of US$ 12195.04 Mn by 2024.
Regional analysis – Asia Pacific dominates the global tube packaging market and is estimated to maintain its leading position throughout the forecast period. Growing personal care and pharmaceutical industries in India and China, rising health awareness and increasing spending on premium products are driving the tube packaging market in Asia Pacific region. North America is the second largest market followed by Europe.
Key players – Key players operating in the tube packaging market are Amcor Limited, Prepack Thailand Co., Ltd., Berry Plastics, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles Gmbh, and AR Packaging Group. Amcor Limited and Mondi Group collectively hold over 30% of the global market share due to their strong flexographic printing capabilities and extensive product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
