The global poly tubing market is expected to increase at a growth rate of around 4.5% to 5.5% during the forecast period. The sales of poly tubing market are expected to reach millions of units, due to the rise in demand in the agriculture and food & beverage sector.
Poly Tubing Market: An Overview
Poly tubing is a versatile wrap that is typically used to wrap industrial products, food items, pharmaceuticals, healthcare devices, agricultural applications and many more. It is used as a wrap for all types of protective, flexible packaging.
Poly tubing is a general-purpose polyethylene that is easily available, cost-effective coupled with better durability that anticipates an increase in the demand for poly tubing over the next few years.
Growing demand from application industries and the rising dominance of protective, impact-resistant packaging has increased the utilization of poly tubing in the global market.
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What Drives the Growth of the Poly Tubing Market?
The factor that drives the growth of the poly tubing market is led by various industries such as food, healthcare, and others. Rising demand for flexible packaging and the growing food & beverage industry, and the pharmaceutical industry supplements the demand of poly tubing in the global market.
Agricultural activities demands extensive use of poly tubing to cover the soil in order to save water for irrigation purposes. It proves to be highly beneficial for water scarcity issue as it helps crops to retain water for longer period.
Active lifestyle and consumer’s buying pattern has increased the demand for packaging that keeps the food and beverage intact away from contamination, moisture free and odour resistant. The poly tubing has a high tensile strength which is ideal to use in factories and industries. They are used as a temporary barrier to control airflow for ventilation purposes.
The tremendous growth of the medical industry is a key factor in driving the sales of the poly tubing market. Owing to the improvement in technology and science, there is a rapid growth in the healthcare and pharmaceutical industry directly impacting the growth of the poly tubing market.
What Restraints the Growth of the Poly Tubing Market?
The fabrication and processing of poly tubing are time-consuming as sometimes the process can be expensive for certain applications where there are better substitutes for packaging.
Poly tubing depending on the material can be prone to breaking or tearing which is not suitable for heavy products that need impact-resistant packaging. Plastic material is also difficult to recycle however with technological advancements in developing countries the recycling process is easier.
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What Growth Opportunities are offered by Poly Tubing Market?
The changing lifestyle trend of preferring protective and hygienic packaging has been spurring innovation and development of plastics thus providing marketing opportunities in key sectors like consumer goods, retail stores, and food & beverage.
Manufacture of poly tubing in developing countries such as India, China, Mexico, Brazil and many others open opportunities for key players to expand their business.
Key players in the Asia Pacific region of the Poly Tubing Market are:
Pee Cee Pack Industries
Qingdao Haishida Plastic Technology Co., Ltd
Yangzhou Honnda New Materials Co., Ltd
Daisaku Trading Co Ltd.
Takigawa Corp
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Which Factors will Contribute to the Growth of the Poly Tubing Market in India and China?
Countries in Asia Pacific region is projected to witness a promising growth in the upcoming years owing to the growing economy, increasing manufacturing plant, increasing infrastructural activity. The well-established manufacturing base in India and China will further provide an impetus for growth in the future. As the growth of the agriculture sector is gaining traction in India there is a tremendous growth opportunity for the poly tubing market.
How has Covid-19 Impacted the Growth of the Poly Tubing Market?
The Covid-19 pandemic outbreak has affected various sectors affecting the demand and supply chain of the product, stoppage of production due to the unavailability of raw material, manpower, and creating a disturbance in the supply. The Covid 19 proved to hamper the sales of the poly tubing market because of the manufacturing disruptions but the demand for poly tubing has increased due to its benefits such as protective packaging, temperature resistance, and impact resistance.
Key Segments of Poly Tubing Market Covered in the Report
