The global plastic caps and closures market was valued at $ 38.83 billion in 2017 and is estimated at $ 55.12 billion by 2026 with a CAGR of more than 4.48% over a forecast period.
The global Plastic Cap and Closure Market is segmented by the product type, technology, raw material, container type, end use sector, and region.
The plastic caps and closures market by product type segment is divided into screw caps and dosing caps. Subdivided according to technology segments into injection molding, compression molding, TE tape after shaping. According to raw materials, a segment is divided into PP, HDPE and LDPE. Depending on the type of container, the segment is divided into plastic and glass. According to the end-use sector, a segment is divided into beverages, food. Geographically divided into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
The screw cap segment is expected to grow with the highest CAGR in the forecast period. Screw caps are tamper-proof and are therefore widely used in the food and beverage industry as well as in the pharmaceutical industry. They are a reliable option for beverage packaging and pharmaceutical products. Compared to cork, screw caps are cost-effective packaging solutions and also offer more space for logos, graphics and other design elements.
The PP segment is expected to grow with the highest CAGR in the forecast period. The growth and high demand for PP as a raw material for the manufacture of plastic caps and closures is due to the fact that it is economical, durable and resistant to extreme conditions.
The plastic container segment is estimated to be the fastest growing sector in the forecast period. Plastic containers are inexpensive and lightweight. Because of their inexpensive nature, they are widely used for packaging CSDs and bottled water. The increasing demand for CSD and bottled water is driving the demand for plastic containers.
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The beverage segment dominates the global plastic caps and closures market as there is maximum demand for carbonated soft drinks, mineral water, ready-to-drink teas and coffees in the industrialized countries. The demand for such products is increasing in developing countries due to the increase in the disposable income of middle class households in countries such as India, China, Brazil, etc. This increase in disposable income leads to a maximum consumer spending on convenience products. The demand for plastic caps and closures has also increased in other end-user industries such as the cosmetics and personal care industries.
Due to the fragile properties of glass and its high cost, the global demand for glass bottles is decreasing and they are being replaced by plastic bottles and containers. PET bottles are preferred to glass because they are easy to transport over long distances and avoid cracks. The main uses for such plastic bottles are in the packaging of carbonated soft drinks, bottled water, juices, and other ready-to-drink beverages. The increasing demand for such products in the emerging countries also bodes well for the market for plastic closures and closures in the coming years. Where plastic caps and closures are used in bottles include cosmetics and personal care, household, food and chemical products, increasing demand in other industries as well.
The Asia Pacific plastic caps and closures market is expected to grow at the highest CAGR over the forecast period. The continuous improvements in government budgets, the increasing number of standards in building codes, positive demographic prospects such as the growing population and per capita income, and the increasing food and beverage industry in the region, contributing to the growth of the plastic caps and closure market in Asia -pacific area. All other regions will follow to help grow the plastic caps and closures market.
The report provides detailed profiles of the leading market players who are trending in the market. Berry Group, Crown Holding, AptarGroup, Amcor, Coral Products, Closure Systems International, BERICAP, Silgan Holdings, RPC Group, United Caps, Caps & Closures Pty Ltd, Caprite Australia Pty. Ltd, Pano Caps, Plastic Closures Limited, Cap & Seal Pvt. Ltd, Phoenix Closures, ALUPAC-INDIA, Helicap Closures and MJS Packaging.
Scope of the Global Plastic Caps and Closures Market
Global Plastic Caps And Closures Market By Product Type:
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Global Plastic Caps And Closures Market By Technology:
TE tape after shaping
Global Plastic Caps And Closures Market By Raw Material:
Global Plastic Caps And Closures Market By Container Type:
Global Plastic Caps And Closures Market By End Use Sector:
Global Plastic Caps And Closures Market By Regions:
The Middle East and Africa
Key Players Analyzed in the Global Plastic Cap And Closure Market:
Group of berries
Locking systems international
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Caps & Closures Pty Ltd
Caprite Australia Pty. Ltd
Plastic Closures Limited
Cap & Seal Pvt. GmbH