Global Plastic Caps and Closure Market was valued US$ 38.83 Bn in 2017 and is estimated to reach US$ 55.12 Bn by 2026 at a CAGR of more than 4.48% during a forecast period.
Global Plastic Caps and Closure Market is segmented by Product Type, by Technology, by Raw Material, by Container Type, by End-use Sector and by Region.
Plastic caps and closure market by product type segment is classified into Screw-on Caps, Dispensing Caps. By technology segment classified into Injection Molding, Compression Molding, Post-mold TE Band. By raw material, a segment is classified into PP, HDPE, and LDPE. By container type segment is classified into plastic and glass. By end-use sector, a segment is classified into Beverages, Food. Geographically split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The screw-on caps segment is projected to grow at the highest CAGR during the forecast period. Screw-on caps are tamper evident and thus find wide-scale application in food & beverage and pharmaceutical industries. They are a reliable option for the packaging of beverages and for pharmaceutical products. Screw-on caps are cost-effective packaging solutions compared to cork, also provide more room for logos, graphics, and other design elements.
The PP segment is projected to grow at the highest CAGR during the forecast period. The growth and high demand for PP as a raw material for manufacturing of plastic caps and closures can be accredited to the fact that it is economical, has a long life span and is resistant to extreme conditions.
The plastic container segment is estimated to be the fastest-growing sector over the forecast period. Plastic containers are cost-effective and light in weight. They are extensively used for packaging CSDs and bottled water owing to their cost-effective nature. The increasing demand for CSD and bottled water is driving the demand for plastic containers.
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The beverages segment dominates the global plastic caps and closures market as there is a maximum demand for carbonated soft drinks, bottled water, ready-to-drink teas and coffees in the developed countries. There is the growing demand for such kind of products in the developing countries due to the increase in the disposable incomes of the middle-class households in countries such as India, China, Brazil, etc. This increase in the disposable income leads to a maximum consumer spending on convenience products. The demand for plastic caps and closures has also grown in other end-use industries such as the cosmetics and personal care industry.
Due to the easily broken properties of glass and its high cost, the demand for glass bottles is decreasing throughout the world and its place is being taken by plastic bottles and containers. PET bottles are being preferred over the glass as they are easy to transport over long distances and to avoid cracking. The main uses of such plastic bottles are for the packaging of carbonated soft drinks, bottled water, juices and other ready to drink beverages. Also, the increase in demand for such kind of products in the emerging economies bodes well for the plastic caps and closures market in the upcoming years. Where plastic caps and closures are used in bottles include cosmetics and personal care, household, food and chemical products which increases the demand in other industries also.
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Asia Pacific plastic caps and closure market is projected to grow at the highest CAGR during the forecast period. The continuous improvements in government budgets, increasing number of standards in building codes, positive demographic outlook such as the growing population and increasing per capita income and the increasing food & beverage industry in the region, which turns to contribute the growth of the plastic caps and closure market in the Asia Pacific region. All other regions are following to contribute to the growth in plastic caps and closure market.
The report includes detailed profiles of the prominent market players that are trending in the market. Berry Group, Crown Holding, AptarGroup, Amcor, Coral Products, Closure Systems International, BERICAP, Silgan Holdings, RPC Group, United Caps, Caps & Closures Pty Ltd, Caprite Australia Pty. Ltd, Pano Caps, Plastic Closures Limited, Cap & Seal Pvt. Ltd, Phoenix Closures, ALUPAC-INDIA, Helicap Closures, and MJS Packaging, among others.
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Scope of the Global Plastic Caps and Closure Market
Global Plastic Caps and Closure Market By Product Type:
Global Plastic Caps and Closure Market By Technology:
Post-mold TE Band
Global Plastic Caps and Closure Market By Raw Material:
Global Plastic Caps and Closure Market By Container Type:
Global Plastic Caps and Closure Market By End-use Sector:
Global Plastic Caps and Closure Market By Region:
The Middle East and Africa
Key Player analysed in the Global Plastic Caps and Closure Market:
Closure Systems International
Caps & Closures Pty Ltd
Caprite Australia Pty. Ltd
Plastic Closures Limited
Cap & Seal Pvt. Ltd