Global sales of the microtube boxes market were valued at US$ 264.6 billion in 2021, and this figure is expected to reach US$ 277.65 billion in 2022, reflecting an annual increase of 4.9%. Looking ahead, the market is poised to expand even further, projected to reach US$ 465.34 billion with a Compound Annual Growth Rate (CAGR) of 5.3% from 2022 to 2032.
Microtube boxes play a crucial role in the pharmaceutical and chemical industries, serving as reliable storage solutions for microtubes used in various sampling processes. Laboratories depend on these storage products to maintain organization, reliability, and safety.
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These versatile microtube boxes come in various sizes to accommodate diverse product specifications and end-user needs. They are crafted from robust materials to safeguard the delicate microtubes they house, with common options including polypropylene, polycarbonate, and polyethylene terephthalate. Polypropylene, with its high melting point, is particularly favored for manufacturing microtube boxes.
These boxes are constructed from thermoplastic polymer materials renowned for their resistance to a wide range of acids, bases, and solvents. Manufacturers produce microtube boxes in various capacities, typically ranging from 25 to 50 tubes, 51 to 100 tubes, 100 to 150 tubes, and beyond 150 tubes, catering to the diverse requirements of laboratories and research facilities.
Key Points:
- Global sales of microtube boxes reached US$ 264.6 billion in 2021, set to grow at a 4.9% annual rate.
- The market is expected to reach US$ 277.65 billion in 2022 and further expand to US$ 465.34 billion by 2032, with a 5.3% CAGR.
- Microtube boxes are vital in the pharmaceutical and chemical industries for storing delicate microtubes used in sampling.
- These boxes come in various sizes and are constructed from robust materials like polypropylene, known for its high melting point.
- The market offers boxes with varying tube capacities, making them adaptable to different laboratory needs.
COVID-19 Impact Analysis:
The recent outbreak of the COVID-19 has adversely affected various markets in the packaging industry, and the Microtube Box market is no exception. Products which are deemed ‘essential’ continue to experience significant sales, while non-essential items faced a sharp decline in demand.
Following government’s measures, particularly social distancing norms and stay-at-home orders, companies operating in the Microtube Box market have put their production on a halt. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace. Several market players are further planning to relocate their supply chain from China – the first epicenter of the COVID-19.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Microtube Box market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Market Segmentation:
Valuable information covered in the FMI’s Microtube Box market report has been segregated into key segments and sub-segments.
Material:
- Plastic Microtube Boxes
- Polyethylene
- Polycarbonate
- Polyethylene Terephthalate
- Polypropylene
- Other Plastics (PVC, PS etc.)
- Paperboard Microtube Boxes
Capacity:
- Microtube Boxes Storing Up to 50 Tubes
- Microtube Boxes Storing 51 to 100 Tubes
- Microtube Boxes Storing 100 to 150 Tubes
- Microtube Boxes Storing Above 150 Tubes
Competition Analysis:
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Microtube Box market. Competitive information detailed in the Microtube Box market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Microtube Box market report.
Key players:
VWR International, LLC, Medax International Inc, Cole-Parmer Instrument Company, LLC, Isolab Laborgerate GmbH, Ritter GmbH, and Rose Plastic India Pvt. Ltd, Thermo Fisher Scientific Inc., Bioline Technologies, MTM Molded Products Company, Ritter GmbH, and Axil Scientific Pte Ltd
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Important Questions Answered:
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Microtube Box market been expanding during the forecast period?
- How will the global Microtube Box market look like by the end of the forecast period?
- What innovative strategies are adopted by Microtube Box market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Microtube Box market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Microtube Box market
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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