The paper tubes market saw soaring growth in 2021. According to the study, paper tubes market revenue will reach nearly US$17,150 Mn in 2031 with a compound annual growth rate (CAGR) of 6.5%.
The broad range of applications for paper tubes continues to be the primary driver of global paper tube market growth. Paper tubes are not only applied in packing, but also by paper and plastic film manufacturers to wind big rolls throughout the manufacturing process.
It's also utilised in retail to dispense and package paper rolls, adhesives, foils, and tissues. The above factors will increase the demand for paper tubes in the retail and packaging industries.
Demand for Sustainable Packaging and Innovative Trends in the Packaging Industry to be a Significant Driver of Growth
Leading manufacturers in the packaging industry are turning to innovative ways to reduce their carbon footprint by adopting eco-friendly processes. The implementation of rigorous regulatory reforms to curb the use of plastic in several nations is also a major driver of demand.
Additionally, end-user preferences for bio-degradable materials such as paper have accelerated the adoption of paper tubes in the packaging of foods, oral care products, cosmetics, educational certificates, retail products, and others.
Shifting trends within the Packaging and warehousing Industry will influence the market outlook of paper tubes. Service providers have begun to deploy advanced technologies and tools such as IoT (Internet of Things) and predictive analysis for smart inventory management.
Many of these suppliers are shifting to using paper tubes due to its convenience and flexibility, which will increase its demand in the packaging and warehousing sector.
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Cosmetics to the Largest Application of Paper Tubes during the Forecasted Period
Rising disposable income has led the cosmetics industry in emerging economies to grow at a rapid pace. Many cosmetics companies have stated their intention to switch to paper-based packaging.
Amorepacific, for instance, unveiled its latest technology in April 2021 to manufacture in-house paper tubes. L'Oreal has introduced paper tubes in their product packaging as well. The above trends will increase the market share of paper tubes in the Cosmetics segment.
The US and Canada Demand Outlook for Paper Tubes Market
The US and Canada paper tube market is highly fragmented with a large number of players. Manufacturers of paper tubes in the US are looking to include eco-friendly practices in their operations by recovering, reconfiguring, and returning to market the industrial paper tubes and cores.
For instance, Paper Tubes and Cores Corporation recovers used paper tubes and recycles them to create their products. The increasing awareness about planet conservation and sustainability will contribute to the rise in demand for paper tubes in the Packaging industry.
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Europe Paper Tubes Market Outlook
Paper tubes are extensively utilised in the Food and Beverages industries in the region. Europe also exports a substantial share of its paper tubes products. The UK, Germany, and France hold a substantial market share in the Europe paper tubes market. The market for paper tubes is estimated to grow considerably during the forecasted period owing to the flourishing Food and Beverage sector.
Further, as consumers become more environmentally conscious, the demand for paper tubes will expand.
Paper Tubes: Key Players
Some key manufacturers in the Paper Tubes market include
