Plastic Caps and Closure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The global plastic caps and closure market was worth US$ 35.2 Billion in 2017. Caps and closures are the final components of the packaging process, they also represent one of the most important parts of the entire process on which the product integrity depends upon. Plastic caps and closures are crucial components in product packaging and play a key role in enhancing the aesthetics and functionality of the products. They are currently used across a number of different industries such as pharmaceuticals, food and beverages, cosmetic products, household goods, etc.
The demand of plastic caps and closures is currently exhibiting strong growth. Plastic caps and closures offer significant advantages over caps and closures made up of other materials such as metal, rubber, etc. Plastic is more economical, versatile, durable, light and resistant to corrosion. Moreover, driven by its lighter weight, it results into a lower transportation cost. PET, PP, HDPE, LDPE, etc. are some of the primary raw materials used in making plastics caps and closures. Beverages currently represent the biggest end use sector for plastic caps and closures. We expect the global beverages market to grow at a CAGR of 3% over the next five years creating a positive impact on the demand of caps and closures. The popularity of plastic in beverage caps and closures has been increasing driven by its cost-effectiveness, durability, customizability and chemical stability. Apart from alcoholic and non-alcoholic beverages, the demand of plastic caps and closures is also increasing in numerous other end use industries such as chemicals, food, pharmaceuticals, cosmetics, etc. Looking forward, the market value is projected to reach US$ 48.3 Billion by 2023, expanding at a CAGR of around 5% during 2018-2023.
Based on the product type, the market has been segmented as screw-on caps, dispensing caps and others.
Based on the raw material, the market has been segmented as PET, PP, HDPE, LDPE and others.
Based on the container type, the market has been segmented as plastic, glass and others.
Based on the technology, the market has been segmented as injection molding, compression molding and post-mold tamper-evident band.
Based on the end-use, the market has been segmented as beverages, industrial chemicals, food, cosmetics, household chemicals, pharmaceuticals and others. Beverages currently represent the biggest segment.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the global market.
The competitive landscape of the market has also been examined with some of the key players being Berry Global, Amcor, Crown Holdings, Silgan Holdings, RPC Group, Bericap, AptarGroup, Inc, Closure Systems International, Coral Products, O.Berk Company, LLC, United Caps, Caps & Closures Pty Ltd, Caprite Australia Pty. Ltd, Pano Cap (Canada) Limited, Plastic Closures Limited, Cap & Seal Pvt. Ltd., Phoenix Closures, Alupac India, Hicap Closures and MJS Packaging.
This report provides a deep insight into the global plastic caps and closure market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the plastic caps and closure market in any manner.
Key Questions Answered in This Report:
How has the global plastic caps and closure market performed so far and how will it perform in the coming years?
What are the key regional markets in the global plastic caps and closure industry?
What is the breakup of the global plastic caps and closure market on the basis of product type?
What is the breakup of the global plastic caps and closure market on the basis of raw material?
What is the breakup of the global plastic caps and closure market on the basis of container type?
What is the breakup of the global plastic caps and closure market on the basis of technology?
What is the breakup of the global plastic caps and closure market on the basis of end-use?
What are the various stages in the value chain of the global plastic caps and closure market?
What are the key driving factors and challenges in the global plastic caps and closure market?
What is the structure of the global plastic caps and closure market and who are the key players?
What is the degree of competition in the global plastic caps and closure market?
How are plastic caps and closure manufactured?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook