Push-pull closure is mainly used in sports bottle. The consumer pulls the spout to open bottle and has to push the spout to reclose. Moreover, push-pull closures are also used in household applications such as dishwashers. Push-pull closures are made up of polyethylene, polypropylene, thermosets, polystyrene, and polyethylene terephthalate.
The growth of push-pull closure market is driven by increasing consumer spending on products such as food & beverages, cosmetics & personal care, pharmaceutical, and household. For instance, as per Ministry of Food Processing Industries, India in 2017, the consumption of food and beverages in India was US$ 369 billion, which has increased and is expected to reach US$ 1.142 trillion by 2025. Therefore, push-pull closure market is expected to boost during the forecast period.
Furthermore, increased demand for small sports bottles due to its compactness is expected to fuel the push-pull closure market growth over the forecast period.
However, strict government regulations on the usage of plastic is a major factor that is expected to hamper growth of the global push-pull closure market. In addition, food and beverage manufacturers are choosing closure less packaging for their products, which reduces packaging cost and this is another factor that is expected to hinder growth of the global push-pull closure market.
Asia Pacific is expected to witness highest growth rate during the forecast period, owing to increasing disposable income and rising consumption of food and beverages. According to India Brand Equity Foundation (IBEF), India’s per capita GDP was US$ 1,942 in 2017, which is expected to reach US$ 3,273.85 by 2023.
Among material type, the polypropylene segment accounted for largest share in the global push- pull closure market and it is expected to grow during the forecast period due to its excellent chemical resistance properties. Moreover, polypropylene has lower density, higher softening point, and higher rigidity & hardness. Therefore, these properties are expected to increase its demand in various end-use industries.
Players operating in push-pull closure market are focusing on various strategies such as mergers and acquisitions, in order to strengthen their position in global market. For instance, in April 2016, RPC Group acquired Global Closure Systems, a manufacturer of plastic containers and closure systems. The acquisition was done for a value of US$ 720 million. This acquisition helped RPC Group to expand its business in the European market.
Key Market Players
Major players operating in the global push-pull closure market include Closure Systems International, CL Smith, Amcor Limited, RPC Group, Mold-Rite Plastics, Georg Menshen GmbH, Silgan Closures, Bericap GmbH, O.Berk, United Caps Luxembourg, Blackhawk Molding, Jiangsu Changjiang Lids, Global Closure Systems, and Silgan Plastic Closures Solutions.
On the basis of material type, the push-pull closure market is segmented into:
On the basis of diameter, the push-pull closure market is segmented into:
On the basis of end-use industry, the push-pull closure market is segmented into:
On the basis of region, the push-pull closure market is segmented into: