The plastic caps and closures market was valued at 1683.73 billion units in 2019 and is expected to reach 2095.21 billion units by 2025, at a CAGR of 5.62% over the forecast period 2020 - 2025. Heat induction cap liner could be used on the variety of bottles made up of different plastic materials such as PP, PVC, HDPE etc, which protects the container from leakage and provides tamper evidence characteristics to it, due to which the market will grow in future.
- Plastic caps and closures are used in a stretch of industries segments, such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. Caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing. - Caps and closures use PP and PE as the primary raw materials for manufacturing. Industries rely heavily on the plastic caps and closures, as they provide a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been increasing at a healthy rate and as an impact of this, the caps and closures market is also expected to record an increase in demand during the forecast period. - However, this industry is comprehensively dependent on the suppliers of raw materials for manufacturing. PP and PE, which are used as raw materials, have significantly fluctuating costs in the market. As the cost of production is dependent on this raw material, manufacturers find it difficult to maintain constant output.
Key Market Trends Polypropylene to Account for a Significant Share
- Plastics converters are the heart of the plastics industry. Polypropylene (PP) comes under thermoplastic which are reversible and can be reheated and reshaped. Polypropylene caps are known for good impact strength, durability, cost-effectiveness and thermal resistance. Polypropylene bottle caps are autoclavable. Wide mouth PP caps are well-suited for many dry products. - F422 HDPE Foam Lined Polypropylene Caps of Qorpak are acid resistant. This F422 liner is comprised of a .38" LDPE core sandwiched between identical layers of .002" - .003" virgin HDPE. These polypropylene closures with foamed polyethylene liners have excellent sealing characteristics and offer good chemical resistance including acids, alcohols, alkalis, aqueous products, cosmetics, household oils and solvents. - The food and drink industry is the EU’s biggest manufacturing sector in terms of jobs and value added by which the demand for plastic converter is increasing. In the last 10 years, EU food and drink exports have doubled, reaching over EUR 90 billion and contributing to a positive balance of almost EUR 30 billion by which the demand of PP is witnessing a high growth. - Germany is Europe’s largest beverage industry, which represents the fourth largest industry sector in Germany and due to the high demand of beverages product such as energy drinks, mocktails, etc, the demand of PP is growing faster.
North America to Occupy Major Share
- The food industry is one of the major contributors to the caps and closures market in the region. Consumers are becoming more health-conscious, and the demand for the healthy beverages is on the rise along with raising personal incomes have made bottled water a more accessible convenience for the individuals and is boosting factor for the growth of caps and closures market. - Food products stored in bottles are being protected through various kinds of airtight plastic closures. Metal caps or closures are also used for the storage of food products, such as grains, typically stored in glass containers. The United States is the second-largest food market across the world, and it is expected to account for a considerably high share of the caps and closures market. - In the United States and Canada, retail shelf packaging is growing popular, owing to the changing lifestyles of the people. This faster pace of lifestyle is expected to further fuel the growth of sales through retail channels. - This trend is further bolstered by the growing millennial population in the workforce. Millennial population in the United States is found to work across flexible work hours, which further bolsters the demand for on-the-go foods, which is expected to drive the market for caps and closure (owing to increase in packaged food).
Competitive Landscape The plastic caps and closures market is in between consolidated and fragmented because it has many players and there are no major players driving the market. Major players in the market studied include Silgan Holdings Inc., Amcor Ltd, Crown Holdings Inc., Aptar Group Inc., and Berry Global Inc. Recent developments in the market are - - February 2019 - Aptar launched a dispensing closure made of post-consumer recycled resin. In Europe, the company is using 50% of recycled PC in the manufacturing of dispensing closure, ensuring the global transition to a circular economy and a sustainable future.
Reasons to Purchase this report: - The market estimate (ME) sheet in Excel format - 3 months of analyst support
Our reports have been used by over 10K customers, including:
The barrier films market size is projected to grow from USD 3.1 billion in 2020 to USD 4.1 billion by 2025, at a CAGR of 5.3%. The barrier films market is witnessing high growth owing to increasing consumer preference for packed & processed food, use of barrier films in end-use industries and gowing electronics industry. Barrier films are...
Executive Summary The Global Masterbatch Market valued at USD 12.05 billion in the year 2019 by value and 7219.23 thousand tonnes by volume has been witnessing unprecedented growth. Masterbatch or MB is an additive for plastics that is majorly used to color plastic (color masterbatch) or confer beneficial physical properties...
The plastic antioxidants market size is estimated to be USD 2.0 billion in 2020 and is projected to reach USD 2.6 billion by 2025, at a CAGR of 5.3% between 2020 and 2025. Factors such as plastics replacing conventional materials, increasing demand in medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants...
The plastics for electric vehicle market in North America is expected to grow from US$ 213.50 million in 2019 to US$ 904.89 million by 2027; it is estimated to grow at a CAGR of 20.0% from 2020 to 2027. The adoption of lightweight materials in an urge to reduce vehicle weight will boost the demand of plastics for electric vehicle in the...
The Asia-Pacific PET packaging market in the pharmaceutical sector (henceforth, referred to as the market studied) was valued at USD 2652 million in 2019, and it is projected to reach USD 3540 million by 2025, registering a CAGR of 5.1% during the period of 2020-2025. Plastic packaging is becoming more popular than other products, as a plastic...
The North America plastic bottles and containers market was valued at USD 30.08 billion in 2019, and it is expected to reach a value of USD 36.45 billion by 2025, registering a CAGR of 5.95% over the forecast period (2020 – 2025). Owing to the rising stringent regulations against plastic recyclability, plastic bottle and container manufacturers,...
The Plastic adhesives market is projected to grow from USD 6.8 billion in 2020 to USD 9.2 billion by 2025, at a CAGR of 6.3% between 2020 and 2025. APAC is the largest plastic adhesives market and is also projected to register the highest CAGR. This high growth is due to the growing demand from the packaging, building & construction, and automotive...
236 pages •
By Global Industry Analysts
• Sep 2020
Global Stock Clamshell Packaging Market to Reach $6.4 Billion by 2027 Amid the COVID-19 crisis, the global market for Stock Clamshell Packaging estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$6.4 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. Polyethylene (PE),...
Growing concern toward the environmental impact of the improper disposal of plastic waste, along with laws & regulations regarding the disposal and treatment of plastic waste is projected to drive the overall growth of the post-consumer recycled plastics market across the globe from 2020 to 2025. The global post-consumer recycled plastics...
Polyethylene Terephthalate Market report 2020 presents a strategic analysis of the global Polyethylene Terephthalate market over the forecast period from 2020 to 2026. The report presents a unique perspective on the future landscape of how COVID-19 transformed Polyethylene Terephthalate growth prospects. The overall economic recovery will...
By continuing to use this site you consent to the use of cookies on your device as described in our Cookie Policy unless you have disabled them.
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.