The Plastic Microtubes market is projected to reach 211.50 million USD by 2025, at a CAGR of 6.10% between 2020 and 2025. The growth in the market size is expected to be driven by the increasing demand for eco-friendly and efficient lab consumable solution. The growth is also associated with the steady demand in US and Europe, decrease in the cost of manufacturing with the advancement of innovative technologies, eco-friendly (recyclable)materials and outsourcing manufacturing thus decreasing costs of production.
The sale of Polypropylene Plastic Microtubes accounted for the largest market with a share of 75%in 2019. However, Polystyrene Plastic Micro tubeshave increased at the highest growth of 9.46% between 2014 and 2019.The growth is attributed to the increased demand for disposal Plastic Microtubes due to the cheaper price, ease of balance and comfort offered by the high quality Polystyrene Plastic Micro tubes, despite the proliferation of Polypropylene Plastic Microtubes in developing countries.
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The report covers impact of COVID-19 on Plastic Microtubes market.
By application, the sale of Plastic Microtubes for clinical labs accounted for the largest market with a share of 64%in 2019. Plastic Microtubes for clinical labs have increased at a CAGR of 7.88% between 2014 and 2019.The growth is attributed to the increased demand for the high quality Plastic Microtubes. By region, the production of Plastic Microtubes in North America accounted for the largest market with a share of 38%in 2019. North America has been the largest market for plastic microtubes followed by Europe and Asia-Pacific between 2014 and 2019.
The market for plastic microtubes is intensely competitive and is highly fragmented. The vendors in the Plastic Microtubes market compete based on product portfolio, product differentiation, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features into their products. In addition, the market is expected to be highly competitive over the years with increased number of new players. Some of the major players in the market are Thermo Fisher, Avantor, Inc. (VWR), Eppendorf AG, Corning, BRAND GMBH + CO KG, Cardinal Health, Inc., Bio-Rad, FUKAEKASEI Corporation and WATSON Corporation, Labcon North America, Thomas Scientific (Denville Scientific) and Others.
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