Plastic Caps and Closures Market Share 2020 - Analysis
Plastic caps and closures market share is expanding at a remarkable pace on the back of the growing beverages industry coupled with the rising competition between the players. The intensifying competition between the players has led to a high emphasis on branding as well as product differentiation among manufacturers of packaged water and drinks. As a result of the mounting focus on branding as well as product differentiation, the demand for plastic caps and closures with varying colors and modified company logo has increased considerably and is giving a substantial boost to the market growth across the world.
Declining demand for glass bottles and containers around the world, given their high cost and fragility, also works in favor of the plastic caps and closures market. At present, more and more manufacturers are opting for PET bottles instead of glass packaging to facilitate ease of handling as well as safe transportation.
Materials that are used by the manufacturers of plastic caps and closures market share are polyethylene, polystyrene, and polypropylene. Out of these, the polypropylene segment forms the biggest share of 49.4% in the market and is bound to grow at a phenomenal rate in the given timeframe. Caps and closures that are made of polypropylene boast of sturdy impact strength, cost-effectiveness, as well as flexibility. The material has the capacity to bear extreme temperatures, given its high melting point, further boosting its demand in the market.
Competitive Dashboard
Amcor Limited (Australia), Global Closure Systems (France), Silgan Holdings Inc. (U.S.), Comar LLC (U.S.), Alcoa Corporation (U.S.), AptarGroup (U.S.), TriMas (U.S.), J.L. CLARK (U.S.), Phoenix Closures, Inc. (U.S.), and Guala Closures Group (India)
Regional Demand for Plastic Caps and Closures
Asia Pacific (APAC), North America, Europe, and the Middle East and Africa (MEA) are the primary markets for plastic caps and closures.
During the forecast period, APAC can be the leading market for plastic caps and closures, with maximum growth expected to be in countries like India, Japan, and China. These countries are some of the most prominent exporters of goods to different parts of the world. Dispensing caps and bottle closures are gaining significant prominence in the region, given the expanding beverage industry. Elevated demand for carbonated soft drinks, ready-to-drink teas and coffees as well as bottled water, in the region spells success for the plastic caps and closures market.
While North America is achieving great success in the plastic caps and closures market, Europe is not much far behind. The region has managed to seize a total share of 23.67% in the global market, as estimated in 2017. The market growth in the region is expected to be persistent in the future, thanks to the constant innovation and development of hygiene and beauty products, packaging and personal care packaging. In addition, soaring demand for consumer-friendly products that are easily transportable and lightweight, surging focus on sustainability, and the rising hygiene standards also trigger the demand for the caps and closures market in the region. The United Kingdom (U.K) stands as the top market for plastic caps and closures in the region, owing to the massive demand for safe and convenient plastic packaging across a slew of industries within the country.
Read More :
https://telegra.ph/Inventory-Tags-Market-Size-Research-Report---Forecast-to-2022-04-03
https://www73.zippyshare.com/v/OSmelIoo/file.html
https://issuu.com/www.marketresearchfuture.com/docs/esd_packaging_boxes_boxes_market_d837883da4e0dc