Plastic Caps & Closures Market Prophesied to Perceive Burnished Growth by 2030; Asserts MRFR

Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Plastic Caps & Closures Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Plastic Caps & Closures Global Market – Overview

Caps & Closures are an important part of packaging and containers such as bottles, cans, tubes, stand-up Pouches and others. Often, they do not only serve to open the container, but also offer the option to reseal it. The market for plastic caps and closures is profiting substantially from an increasing use of packaging. Moreover, rising demand for bottled water and smaller packaging sizes will provide important stimuli to growth in the future. The quality of plastic caps & closure is improving continuously and access to materials which are used traditionally. According to a recent study report published by the Market Research Future, The global Plastic Caps & Closures market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2022 - 2030).

The expansion in end-use application, especially in the field of personal care products, consumer household appliances and pharmaceuticals ensure better market prospects. Developing economies like India, China, and Brazil have changed their buying patterns by purchasing more packaged foods. The rising food market enables the global players to introduce new products, expand to new regions, and develop new technologies. Asia-Pacific with developing nations is the most attractive market because of its inclination towards improvement in quality of food. The demand for packaged products has been increasing in the Asia-Pacific region majorly due to the changing lifestyle and the increase in purchasing power. It will leads to increase demands for plastic caps & closures.

The market driven by various factors such as increase in the consumption of processed foods & beverages, innovation in plastic packaging, and the reusability of Plastic. The increase in the consumption of processed food & beverage will result in the growing demand for caps and closure for sealing purpose. This increase in demand will result in the growth of the caps & closure industry in future.

Key Players:

Aro Metal Stamping co. (U.S.), Kenmode Precision Metal Stamping (U.S.), Martinrea International Inc. (Canada), Shiloh Industries, Inc. (U.S.), Acro Metal Stamping Co. (U.S.), Manor Tool & Manufacturing Company (U.S.), American Industrial Company (U.S.), Wisconsin Metal Parts, Inc. (U.S.), and Clow Stamping Co. (U.S.). and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Plastic Caps & Closures market.

Industry/ Innovation/ Related News:

The key strategies followed by most companies within the global Plastic Caps & Closures market are that of new product development.

On December 2017, RPC Zeller Plastik Zell has innovated its screw-on Classic range of polypropylene hinge tube closures (HTC) with the addition of a 25mm size, available with a matt finish. The new closure will enable brand manufacturing using a single closure design.

On December 2017, Crown Holdings has acquired Signode Industrial Group Holdings which will provide an additional portfolio of premier transit and protective packaging franchises to our existing metal packaging business

On Dec 2013, Amcor Rigid Plastics has expanded the use of its unique roll-on pilfer-proof (ROPP) finish design for aluminum screw-cap PET bottles. Amcor has a strong position in the wine market with aluminum screw-cap containers and has now extended its ROPP with new 1.75L and 750ml stock PET bottles that offer light weight and smooth conversion from glass.

Plastic Caps & Closures Market – Segmentation

The global Plastic Caps & Closures market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Raw Material: Comprises Polypropylene, Polyethylene, Polystyrene, Other Resins

Segmentation by Product Type: Comprises Screw Caps, Dispensing Caps and Other Plastic Caps

Segmentation by End-use: Comprises Food & Beverage, Pharmaceutical, Others

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Plastic Caps & Closures Market:

Regional Analysis

Caps and closures industry uses different type of materials to construct suitable product packaging, such as plastics, metals, rubber, and paperboard among others. Plastic is chemically resistant, inexpensive and lightweight with a wide range of physical and optical properties. In fact, many plastics are heat sealable, easy to print, and can be integrated into production processes where the package is formed, filled, and sealed in the same production line. It is driven by the adoption of smaller bottles in several beverage markets as well as a positive outlook for pharmaceuticals. Geographically, Asia Pacific is leading the market of Plastic Caps & Closures. With the increasing popularity towards packaged food in countries such as India and China, the demand for plastic caps & closures is anticipated to grow, significantly. Growing purchasing power, disposable income, and rise in manufacturing activities and growth in the demand for conveniently packaged products has resulted in an increase in demand for plastic caps & closures market. Whereas, The North America and Western Europe are expected to register a moderate growth rate owing to the saturation of end use markets in the regions.

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