Future Market Insights (FMI) delivers key insights on the global plastics caps & closures market in its latest report titled, “Plastics caps & closures Market – Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”. In terms of volume, the global plastics caps & closures market is projected to increase at a CAGR of 4.8% during the forecast period (2017–2027) owing to various factors, regarding which FMI offers vital insights in detail in this report.
Single-serve beverages along with the hot fill process which increases the shelf life of the packaged content are fuelling the growth of closures in the market. Rise in demand for convenience food and beverages products such as ready-to-drink teas and coffees will further driving the market for plastics caps & closures market.
Key manufacturers of plastics caps & closures are focused on creating a high value product by reducing the cost as well as optimizing the efficiency of the system.
As, there are lots of regulations enacted by the FDA to implement child-resistant closures in the pharmaceutical industry in the U.S. Implementations of such type of laws are restraining the growth of the plastics caps and closures market. In Asia Pacific region, global plastics closure manufacturers face high competition from local manufacturers as less initial investment is required to start new plant and cheaper machineries provided by the Chinese manufacturers. Thus, these favourable conditions encourages local plastics caps & closure manufacturers to establish their own plant and provide cheaper products. As a result, global plastics caps and closures manufacturers face high competition in the region.
The global market for plastics caps & closures is segmented on the basis of cap type, material type and end use industry. As per cap type, the global market for plastics caps & closures market is segmented into screw closures, snap closures, push-pull closures and others segments.
On the basis of material type plastics caps & closures market is segmented as thermoplastics, thermosets. Thermoplastics can be segmented as polyethylene, polypropylene and others (PS, PET etc.). Polyethylene segment can be further segmented as low-density polyethylene, high density polyethylene.
On the basis of end use industry, the global plastics caps & closures market is segmented into beverages, food, pharmaceuticals, household, cosmetics & personal care, and others (chemical & fertilizers, etc.). Among this beverages segment, which is further divided into non-carbonated drinks and carbonated drinks. Further, non-carbonated drinks is segmented as alcoholic beverages, bottled water, fruit beverages, ready to drink beverages, sports drinks etc.
On the basis of region, the global plastics caps & closures market is segmented into North America, Latin America, Eastern Europe, Western Europe, APEJ, MEA, and Japan. APEJ is estimated to dominate the global plastics caps & closures market in terms of both value and volume.
Key players in the global plastics caps & closures market includes Closure Systems International, Inc., Silgan Plastic Closure Solutions, Bericap GmbH and Co KG, Global Closure Systems, AptarGroup, Inc., Berry Plastics Group, Inc., Amcor Limited, O.Berk Company, LLC, Blackhawk Molding Co. Inc., CL Smith Company, Georg MENSHEN GmbH & Co. KG, Mold-Rite Plastics, LLC, Plasticap, Inc., United Caps Luxembourg S.A., Guala Closures S.p.A., Plastic Closures Limited, Colt’s Plastics Company, Inc., Weener Plastik GmbH, and Takween Advanced Industries.
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