Market Research Report
Global Plastic Caps and Closures Market Research Report - Forecast till 2023
|Published by||Market Research Future||Product code||750717|
|Published||Content info||116 Pages
Delivery time: 1-2 business days
|Global Plastic Caps and Closures Market Research Report - Forecast till 2023|
|Published: July 30, 2018||Content info: 116 Pages||
Plastic caps and closures are used for dispensing and sealing in packaging. They ensure inflow and outflow of product to/from the packaging. The materials used in the manufacturing of plastic caps and closures are polypropylene, polyethylene, and polystyrene, among other resins.
The global plastic caps and closures market is expected to register a CAGR of 5.22% during the forecast period. Market growth is mainly driven by the growing demand in the food & beverage industry and innovation in packaging. Moreover, the rising demand for packaged food & beverages in developing nations such as India, Brazil, and Indonesia offer market players lucrative opportunities for growth. However, market growth is hindered by fluctuations in raw material prices and stringent regulations regarding the use of plastic and recycled materials.
For the study, the global plastic caps and closures market has been segmented based on type, material, end user, and region. On the basis of type, the market has been divided into screw caps, dispensing caps, and closures. On the basis of material, the market has been classified as polypropylene, polyethylene, and polystyrene. On the basis of end user, the market has been categorized as food & beverage, pharmaceuticals, and personal care. The global plastic caps and closures market has been studied for four key regions-North America, Europe, Asia-Pacific, and the rest of the world.
The key players in the global plastic caps and closures market are Amcor Limited (US), Silgan Holdings Inc. (US), TriMas (US), Phoenix Closures, Inc. (US Ils), J. L. Clark (US), Global Closure Systems (France), Comar LLC (US), Aptar Group (US), Reynolds Group Holdings (US), and Guala Closures Group (Italy).
The North American market dominated the global market in 2017 and is likely to grow at a remarkable rate during the forecast period. The presence of key companies, such as Amcor Limited, Comar LLC, and Silgan Holdings Inc., results in the dominance of this region. Furthermore, the stringent food safety policies in the US and Canada drive the demand for plastic caps and closures in the food & beverage industry.
Rest of the World