Plastic Caps and Closures Market - Global Industry Analysis

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A closure is a device that helps in sealing the contents inside the container and securing the content from dust, spilling, atmosphere, evaporation, and from external damage. The finishing and closure are consistent parts of any container.  The closure should be conventional to the finishing of the bottle for its functionality. In simple words, the design of the closure is interlinked with the finishing of the container. Plastic closures including a cap act as an efficient sealing device for bottles and containers. The plastic closures and caps provide durability, versatility, and flexibility. Also, with its economical production rate, the plastic closures and caps nowadays are becoming an excellent choice for packaging. The caps and closures are effective against tampering of products which makes them the best packaging method.

The plastic caps and closures market is experiencing the highest growth rate in developed as well as developing countries. The advancements of technology in plastic packaging have resulted in the upgradation and innovation of the product development in many sectors of the industry. Many organizations are significantly investing their capital in research and development in order to come up with the exclusive and economical products. Hence, the innovations, particularly in the plastic packaging industry are rising exponentially. An Italian organization, Imola has come up with a machine which prints high-quality imagery at a fast rate on caps. Also because of the fragility, brittleness, and high cost of glass, the demand for the plastic caps and closures is rising day by day. PET bottles are now being favored over glass containers as to avoid any breakages. Additional, PET bottles are very easy to transport. To meet the rising demand, approximately 650 billion units of PET bottles are manufactured globally. Such plastic bottles are used for the packaging of bottled water, juices, carbonated soft drinks, and other beverages. Such factors are contributing to the plastic caps and closures market growth over the forecast period.  

 
Based on material, the plastic caps and closures market is segmented into PET, PP, and HDPE. On the basis of type, the market is categorized into dispensing caps, closures, and screw caps. Based on end-user, the plastic caps and closures market is bifurcated into pharmaceuticals, food, household cosmetics & personal care, and others. 

Asia Pacific held significant revenue share of the global plastic caps and closures market in 2017 and the region is expected to continue with its regional superiority over the forecast period. The growth of this regional market is attributed to the rising demand in the beverages industry for products such as alcoholic beverages, carbonated drinks, and others. North America is predicted to provide significant opportunities for plastic caps and closures. The growth is anticipated in the region due to the increasing consumption of liquor among the population.

Some of the industry players operating in the plastic caps and closures market include Phoenix Closures, Inc., Global Closure Systems, Amcor Limited, J.L. CLARK Silgan Holdings Inc., Comar LLC, AptarGroup, Alcoa Corporation, TriMas, BERICAP GmBh & Co. KG, Guala Closures Group, and others.