Plastic Caps and Closures Market Overview
The global plastic caps and closures market is expected to exhibit a strong 5.22% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global plastic caps and closures market is mainly driven by the growing demand for plastics in the global packaging industry, but held back by the increasing awareness about the adverse effects of plastic waste on the environment.
The global plastic caps and closures market is mainly driven by the growing demand for consumer products such as packaged food and beverages (especially beverages), pharmaceuticals, and personal care products. These products are often sold in plastic bottles or small plastic containers and use a plastic cap or closure to seal the product from environmental contamination. The strong temperature resistance and weather resistance of plastics makes them the perfect material for use in bottles and corresponding caps and closures. This has been the major driver for the global plastic caps and closures market, as other materials, such as metals and glass, are much more expensive to manufacture and shape into the desired shape. The easy moldability of plastics is also a major driver for the global plastic caps and closures market, as a large variety of containers can easily be fitted with plastic caps and closures.
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The growing demand for packaged beverages and personal care products is likely to be the major driver for the plastic caps and closures market over the forecast period. However, the plastic caps and closures market is also restrained by the growing awareness about the adverse effect plastic plays in environmental protection, i.e. the growing generation of nonbiodegradable plastic waste. This is likely to drive recycling efforts in the plastic caps and closures market over the coming years, lending the market an extra dimension that will enable smooth growth through the forecast period and beyond.
Competitive Analysis
Leading players in the global plastic caps and closures market include
Guala Closures Group
J. L. Clark
Phoenix Closures Inc.
TriMas
Alcoa Corporation
AptarGroup
Comar LLC
Global Closure Systems
Silgan Holdings Inc
Amcor Limited
Recycling efforts are likely to be crucial in the plastic caps and closures market over the forecast period, as several governments around the world are coming down hard on the excessive discarding of plastic waste. In fall 2018, students of Concord Intermediate School near Elkhart, Indiana started a project to collect discarded plastic caps and turn them into benches for the school’s playground. Deliveries of the recycled benches began in mid-2019. Community projects such as this could provide a direction for the global plastic caps and closures market in the coming years.
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Plastic Caps and Closures Industry Segmentation
The global plastic caps and closures market is segmented on the basis of type, material, end use, and region.
By type, the global plastic caps and closures market is segmented into screw caps, dispensing caps, and closures. The screw caps segment is likely to dominate the global plastic caps and closures market over the forecast period due to the widespread use of screw plastic caps.
By material, the market is segmented into polypropylene, polyethylene, and polystyrene. The polypropylene segment is likely to play a key role in the development of the plastic caps and closures market over the forecast period due to its growing demand.
By end use, the global plastic caps and closures market is segmented into personal care, pharmaceuticals, food and beverages, and others. The food and beverage industry is expected to be the major end user in the global plastic caps and closures market over the forecast period due to the growing demand for bottled beverages.
Regional Analysis
The Americas segment dominates the global plastic caps and closures market and is likely to retain the lead over the forecast period due to the growing demand for bottled beverages, personal care products, and healthcare products in the U.S. and Canada.
Europe is also a leading regional market for plastic caps and closures, due to the growing demand for bottled healthcare and personal care products.
Asia Pacific is expected to exhibit rapid growth in the global plastic caps and closures market over the forecast period due to the growing fast food industry in the region and the growing demand for bottled beverages of various kinds.
Table Of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 17
2.2 Scope Of The Study 17
2.3 Market Structure 17
2.4 List Of Assumptions 18
2.5 Key Takeaways 19
2.6 Key Buying Criteria 19
3 Research Methodology
3.1 Research Process 21
3.2 Primary Research 21
3.3 Secondary Research 22
3.4 Market Size Estimation 23
3.5 Forecast Model 24
4 Market Dynamics
Continues…..
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List Of Tables
Table 1 Market Synopsis
Table 2 List Of Assumptions
Table 3 Europe Food And Drink Industry, 2014-2015
Table 4 Global plastics news caps and closures market, By Type, 2016-2023 (Usd Million)
Table 5 Global dispensing caps market, By Type, 2016-2023 (Million Units)
Table 6 Global metal caps for glass bottles Market, By Type, 2016-2023 (Weight-Th Mt)
Table 7 Global Market, By Material, 2016-2023 (Usd Million)
Continues…..
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