Plastic Caps and Closures Market 2019-2023 Ongoing Trends | Growing at Remarkable CAGR of 5.22% with Amcor, Comar, AptarGroup, Alcoa, TriMas, Phoenix Closures, J.L. CLARK and Global Closure Systems

Plastic Caps and Closures Market 2019-2023 Ongoing Trends | Growing at Remarkable CAGR of 5.22% with Amcor, Comar, AptarGroup, Alcoa, TriMas, Phoenix Closures, J.L. CLARK and Global Closure Systems

“Plastic Caps and Closures Market”
Plastic Caps and Closures Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Type (Screw Caps, Dispensing Caps, and Closures), By Material (Polypropylene, Polyethylene and Polystyrene), By End-User (Food & beverages, Pharmaceutical and Personal Care), By Region – Forecast to 2023

The global plastic caps and closures market is expected to exhibit a strong 5.22% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global plastic caps and closures market is mainly driven by the growing demand for plastics in the global packaging industry, but held back by the increasing awareness about the adverse effects of plastic waste on the environment.

Leading players in the global plastic caps and closures market include Guala Closures Group, J. L. Clark, Phoenix Closures Inc., TriMas, Alcoa Corporation, AptarGroup, Comar LLC, Global Closure Systems, Silgan Holdings Inc., and Amcor Limited.

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The global plastic caps and closures market is mainly driven by the growing demand for consumer products such as packaged food and beverages (especially beverages), pharmaceuticals, and personal care products. These products are often sold in plastic bottles or small plastic containers and use a plastic cap or closure to seal the product from environmental contamination. The strong temperature resistance and weather resistance of plastics makes them the perfect material for use in bottles and corresponding caps and closures. This has been the major driver for the global plastic caps and closures market, as other materials, such as metals and glass, are much more expensive to manufacture and shape into the desired shape. The easy moldability of plastics is also a major driver for the global plastic caps and closures market, as a large variety of containers can easily be fitted with plastic caps and closures.

The growing demand for packaged beverages and personal care products is likely to be the major driver for the plastic caps and closures market over the forecast period. However, the plastic caps and closures market is also restrained by the growing awareness about the adverse effect plastic plays in environmental protection, i.e. the growing generation of nonbiodegradable plastic waste. This is likely to drive recycling efforts in the plastic caps and closures market over the coming years, lending the market an extra dimension that will enable smooth growth through the forecast period and beyond.

Competitive Analysis:

Recycling efforts are likely to be crucial in the Plastic Caps and Closures Market over the forecast period, as several governments around the world are coming down hard on the excessive discarding of plastic waste. In fall 2018, students of Concord Intermediate School near Elkhart, Indiana started a project to collect discarded plastic caps and turn them into benches for the school’s playground. Deliveries of the recycled benches began in mid-2019. Community projects such as this could provide a direction for the global plastic caps and closures market in the coming years.

Segmentation:

The global plastic caps and closures market is segmented on the basis of type, material, end use, and region.

By type, the global plastic caps and closures market is segmented into screw caps, dispensing caps, and closures. The screw caps segment is likely to dominate the global plastic caps and closures market over the forecast period due to the widespread use of screw plastic caps.

By material, the market is segmented into polypropylene, polyethylene, and polystyrene. The polypropylene segment is likely to play a key role in the development of the plastic caps and closures market over the forecast period due to its growing demand.

By end use, the global plastic caps and closures market is segmented into personal care, pharmaceuticals, food and beverages, and others. The food and beverage industry is expected to be the major end user in the global plastic caps and closures market over the forecast period due to the growing demand for bottled beverages.

Regional Analysis:

The Americas segment dominates the global plastic caps and closures market and is likely to retain the lead over the forecast period due to the growing demand for bottled beverages, personal care products, and healthcare products in the U.S. and Canada.

Europe is also a leading regional market for plastic caps and closures, due to the growing demand for bottled healthcare and personal care products.

Asia Pacific is expected to exhibit rapid growth in the global plastic caps and closures market over the forecast period due to the growing fast food industry in the region and the growing demand for bottled beverages of various kinds.

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List of Tables

Table 1 Market Synopsis 
Table 2 List of Assumptions 
Table 3 Europe Food and Drink Industry, 2014-2015 
Table 4 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Usd Million) 
Table 5 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Million Units) 
Table 6 Global Plastic Caps and Closures Market, by Type, 2016-2023 (Weight-th Mt) 
Table 7 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Usd Million) 
Table 8 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Million Units) 
Table 9 Global Plastic Caps and Closures Market, by Material, 2016-2023 (Weight-th Mt) 
Table 10 Global Plastic Caps and Closures Market, by End-user, 2016-2023 (Usd Million)

Continued……

List of Figures

Figure 1 Global Plastic Caps and Closures Market: Market Structure 
Figure 2 Key Takeaways From Plastic Caps and Closures Market 
Figure 3 Key Buying Criteria of Global Plastic Caps and Closures Market 
Figure 4 Research Process of Mrfr 
Figure 5 Top Down & Bottom Up Approach 
Figure 6 Drivers, Restraints, and Opportunity of Global Plastic Caps and Closures Market 
Figure 7 U.s.: Components of Food & Beverages Manufacturing, Value Added, 2016 (%) 
Figure 8 Porter’s Five Forces Analysis of Global Plastic Caps and Closures Market 
Figure 9 Supply Chain Analysis: Plastic Caps and Closures Market 
Figure 10 Global Plastic Caps and Closures Market Share, by Type, 2017 (%)

Continued……..

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