Global plastic caps and closures market expected to generate revenue of around USD 55.22 billion by the end of 2024, growing at a CAGR of around 5.11% between 2018 and 2024. The swift technological development and continuous improvement in the product have led to the upsurge in the packaging industry across the globe.
The report covers forecast and analysis for the plastic caps and closures market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the plastic caps and closures market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the plastic caps and closures market on a global level.
In order to give the users of this report a comprehensive view of the plastic caps and closures market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein material segment, type segment, and end-user segment are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launch, agreements, partnerships, collaborations & joint ventures, research & development, technology and regional expansion of major participants involved in the market on the global and regional basis. Moreover, the study covers price trend analysis, the product portfolio of various companies according to the region.
The study provides a decisive view of the plastic caps and closures market by segmenting the market based on material, type, end-user, and regions. All the segments have been analyzed based on present and the future trends and the market is estimated from 2018 to 2024. The regional segmentation includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This segmentation includes demand for plastic caps and closures market based on all segments in all the regions and countries.
The report also includes detailed profiles of end players such as 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.
This report segments the global plastic caps and closures market as follows:
Global Plastic Caps and Closures Market: Material Segment Analysis
Global Plastic Caps and Closures Market: Type Segment Analysis
Global Plastic Caps and Closures Market: End-user Segment Analysis
Global Plastic Caps and Closures Market: Regional Segment Analysis
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.
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