PLASTIC CAPS AND CLOSURES MARKET ANALYSIS
Caps and closures are the final components of the packaging process. The caps and closures are also being considered an important part of the entire process on which the integrity of the product depends. They play a major role in enhancing the aesthetics and functionality of the product. Caps and closures have applications in various industry verticals such as food & beverage, pharmaceuticals, and others.
Market Dynamics:
The growth of the plastic caps and closures market is driven by its advantages over caps and closures made up of other materials such as metal, rubber, and others. Plastic caps and closures are relatively more economical, versatile, light, durable, and resistant to corrosion. The demand for caps and closures is also driven by its light weight, which helps in reducing the overall cost of transportation. Demand for plastic caps and closures is expected to boost over the forecasted period, owing to several factors such as increasing convenience of packaging, increasing trend of e-commerce shopping, and rising disposable income of the consumers, which has resulted in an increase in demand for convenient packaging products and therefore, plastic caps and closures. However, growth of the market is expected to be hampered by introduction of stringent policies by governments of various countries towards the use of plastics.
Market Outlook:
Based on material type, the polypropylene (PP) segment is expected to be dominant in the market in 2019. Polypropylene is a thermoplastic polymer, which is reversible and can be reshaped and reheated Caps and closures that are manufactured by using polypropylene offers high strength, durability, thermal resistivity, and are cost effective. Moreover, polypropylene closures with foamed polyethylene liners offers high sealing capabilities and good chemical resistance to alkalis, alcohols, acids, cosmetics, aqueous products, and household oil, and solvents amongst others.
Among region, Asia pacific is expected to hold a dominant position in the global plastic caps and closures market, owing to factors such as growth of the end-use industries such as food and beverage, cosmetics and others and increasing investments for establishing manufacturing plants by market players operating within the region. Demand for plastic caps and closures in Asia Pacific is further expected to rise, owing to factors such as increasing population, industrialization, and rising disposable income, which results in increasing consumption of packaged products.
Key players:
Key players operating in the global plastic caps and closures market include Silgan Holdings Inc., Amcor Ltd, Crown Holdings Inc., Aptar Group Inc., Berry Global, Inc., Albéa S.A., Ball Corporation, Evergreen Packaging Inc., Global Closure Systems, Guala Closures Group, Pact Group, Tetra Laval International S.A., BERICAP GmbH & Co. KG, and others.
Market Taxonomy:
On the basis of material type, the global plastic caps and closures market is segmented into:
On the basis of product type, the global plastic caps and closures market is segmented into:
On the basis of technology, the global plastic caps and closures market is segmented into:
On the basis of application, the global plastic caps and closures market is segmented into:
On the basis of region, the global plastic caps and closures market is segmented into:
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