The Caps and Closure market is set to rise in the coming years. The demand for raw plastic materials across the globe for commercial and business use is expanding. If the caps and closure market is on the rise you can also expect to see an increase with plastic container bottles, dispensing units and airless packaging.
Global Forecast to 2021
The caps & closures market size is estimated to grow from USD 49.78 billion in 2015 to USD 68.71 billion by 2021, at a CAGR of 5.62%. The caps & closures market is driven by factors such as rising demand from end-use industries such as healthcare, food, and beverage as well as rising concerns toward quality and safety of the product.
Plastic as a raw material is projected to be the fastest-growing segment in the next five years. Plastic caps & closures are made from a wide range of polymers such as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and polyvinyl chloride (PVC). Plastic caps & closures can be easily formed, are of high quality, are cost-effective, and provide excellent barrier properties and the freedom of design; hence, they are preferred for sealing products.
The Asia-Pacific market is projected to be the fastest-growing market during the forecast period. It is also projected to have the largest market share due to increasing commercialization and increased demand for packaged goods in the region. The markets of China and India are projected to be lucrative due to their rising middle-class population and rising consumer spending on packaged products.
The research methodology used to estimate and forecast the caps & closures market includes the top-down and bottom-up approach. The total market size of caps & closures was calculated based on the percentage split of types of caps & closures (plastic, metal, and other types of caps & closures) as well as on the percentage spilt of different raw materials and end-use industries. After arriving at the overall market size, the total market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the following figure:
The various key caps & closures providers profiled for an increased demand include;
- Raepak Ltd (U.K.)
- M&H Plastics (U.K.)
- RPC Group PLC (U.K.)
- Crown Holdings Incorporation (U.S.)
- Amcor Limited Plc (Australia)
- Rexam PLC (U.K.)
- Berry Plastics Corporation (U.S.)
- Silgan Holdings Inc. (U.S.)
- AptarGroup Incorporated (U.S.)
- Guala Closures Group (Italy)
- BERICAP GmbH Co. & KG (Germany)
- Reynolds Group Holdings Limited (New Zealand)
- Plastic (polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, polycarbonate, and polystyrene)
- Metal (aluminum and steel)
- Others (glass, wood, rubber & elastomers, and paperboard)
- Plastic caps & closures (screws, dispensing caps, liquid carton closures, plastic lotion pumps, plastic aerosol sprays, others)
- Metal caps & closures (screw & lug cans, cap ends, crown caps, others)
- Other caps & closures (corks, glass stoppers, rubber stoppers, others)
- Beverage industry (alcoholic and non-alcoholic beverages)
- Food industry
- Healthcare industry
- Cosmetics & toiletries
- Others (chemical and automotive industry)