Global plastic caps and closures market is projected to cross $ 33 billion by 2024
Global Plastic Caps and Closures Market, By Product Type (Screw-On Caps; Dispensing Caps), By Material (Polyethylene (PE); Polypropylene (PP)), By Technology (Injection Molding; Compression Molding), By End Use Industry (Food; Beverages; Household & Personal Care; & Pharmaceuticals), By Region, Competition Forecast & Opportunities, 2024
NEW YORK, Oct. 28, 2019 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05824729/?utm_source=PRN
Global plastic caps and closures market is projected to cross $ 33 billion by 2024 on account of increasing utilization of plastic caps and closures in various end user industries for packaging backed by high flexibility, durability and versatility offered by plastic.Moreover, with the increasing trend of convenience packaging, the demand for plastic caps and closures is anticipated to increase in the coming years.
Additionally, rising disposable income and trend of e-commerce shopping are further likely to positively influence the growth of the market during the forecast period. However, strict policies pertaining to the use of plastic in various economies can act as challenge for the growth of the market.
Global plastic caps and closures market can be classified based on product type, material, technology and end use industry.Based on the product type, the market has been segmented into screw-on caps, dispensing caps, among others.
Screw-on caps segment is likely to command over 50% of the market share during the forecast period as these caps are cost-effective when compared with other counterparts and are tamper evident.
In terms of regional analysis, the market can be segmented into North America, South America, Asia-Pacific, Middle East & Africa and Europe. Asia-Pacific accounted for the largest share in the 2018 and the region is expected to continue its market dominance during forecast period as well on account of surging population, rising per capita income and booming food & beverages industry in the region.
Major players operating in the global plastic caps and closures market include Bericap Holdings, Berry Global, Crown Holdings, Silgan Holdings, AptarGroup, Reynolds Group Holdings Limited, Rexam PLC, Guala Closures Group, Bericap GmbH Co. & Kg, among others. Caps and closures market is highly fragmented, with top five commanding for around 12% of the overall market share. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. The market is witnessing consolidation with a string of mergers & acquisitions and new product developments. In 2019, AptarGroup launched closures made from recycled resin.
Years considered for this report:
Historical Period: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
• To assess the demand-supply scenario of plastic caps and closures, which covers production, demand and supply of plastic caps and closures globally.
• To analyze and forecast the market size of plastic caps and closures.
• To classify and forecast global plastic caps and closures market based on vehicle type, components and regional distribution.
• To identify drivers and challenges for global plastic caps and closures market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global plastic caps and closures.
• To conduct the pricing analysis for plastic caps and closures.
• To identify and analyze the profile of leading players involved in the manufacturing of global plastic caps and closures.
To perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of plastic caps and closures players operating globally.
Subsequently, the analyst conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, the analyst could include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined product offerings and regional presence of all major plastic caps and closures manufacturers and suppliers across the globe.
The analyst calculated the market size for global plastic caps and closures using a bottom-up technique, wherein manufacturers' volume sales data for different applications, were recorded as well as forecast for the future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size.
Multiple secondary sources such as directories, Company Websites, company annual reports, white papers, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Plastic caps and closures manufacturers, suppliers, distributors and other stakeholders
• Associations, organizations, forums and alliances related to plastic caps and closures
• Industry associations
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Plastic Caps and Closures service providers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, global plastic caps and closures market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Product Type:
o Screw-On Caps
o Dispensing Caps
• Market, by Material:
o PE
o PP
• Market, by Technology:
o Injection Molding
o Compression Molding
• Market, by Region:
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia
o Europe
- United Kingdom
- Germany
- Spain
- Italy
- France
o North America
- United States
- Canada
- Mexico
o South America
- Brazil
- Argentina
- Colombia
o Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in plastic caps and closures.
Available Customizations:
With the given market data, we offers customizations according the company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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