Dublin, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The "Plastic Caps and Closures Market by Product Type (Screw-on Caps, Dispensing Caps), Technology (Injection Molding, Compression Molding, Post-mold TE Band), Raw Material (PP, HDPE, LDPE), End-use (Beverage, Pharmaceutical), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The plastic caps & closures market was USD 42.33 billion in 2019 and is projected to reach USD 57.03 billion by 2025, at a CAGR of 5.18% between 2020 and 2025.
Increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes are driving the market for plastic caps & closures. However, the development of substitutes is expected to restrain this market. Emerging economies are expected to offer significant growth opportunities to manufacturers of plastic caps & closures. The major challenge faced by players is the mature market in developed regions.
The screw-on caps segment is expected to grow at the highest CAGR during the forecast period in the plastic caps & closures market.
The screw-on caps segment accounted for the largest share and is projected to grow at the highest CAGR during the forecast period. This is attributed to its wide application in various end-use industries such as beverage, pharmaceutical, and personal care. Moreover, they are cost-effective and lightweight.
A plastic screw closure is a well-engineered product that is screwed on and off on a container. These closures contain either continuous threads or lugs. It must be engineered and designed to be cost-effective, compatible with contents, easy to open; provide an effective seal; and comply with the product, package, and environmental laws and regulations.
The post-mold TE band segment is expected to be the fastest-growing technology during the forecast period in the plastic caps & closures market
In terms of both value and volume, the post-mold TE band segment accounted for the largest shares, and it is also projected to grow at the highest CAGR. In the post-mold technology, slitting is a secondary operation to achieve tamper-evident plastic caps & closures. This post-mold technology is comparatively economical and time-effective.
The plastic segment is expected to be the fastest-growing container type during the forecast period in the plastic caps & closures market
In terms of value and volume, the plastic segment accounted for the largest share in 2019 and is projected to grow at a comparatively higher CAGR during the forecast period. Plastic containers are economical and lightweight. They are primarily used for packaging CSDs and bottled water owing to cost-effectiveness.
The PP segment is expected to lead and be the fastest-growing raw material during the forecast period in the plastic caps & closures market
The PP segment leads the market. PP is widely used owing to its high resistance to chemical corrosion property, making it an excellent choice for packaging for cleaning products, bleaches, and first-aid products, among others. It also offers excellent fatigue resistance and elasticity, securing it a well-deserved reputation for toughness and durability.
The beverage segment is expected to account for the largest share in the plastic caps & closures market
Beverage packaging is the largest end-use sector of plastic caps & closures. Beverage packaging is used to enhance the shelf life as well as to retain the taste and texture of the beverage. The demand from beverage companies for novel differentiating closures drives the market for premium caps in the beverages industry. Plastic caps & closures have witnessed extensive traction for the packaging of bottled water, carbonated soda drinks, and non-carbonated soda drinks.
North America is expected to be the largest plastic caps & closures market during the forecast period, in terms of volume.
The US, Canada, and Mexico are the major countries contributing to the plastic caps & closures market in North America. The growth is driven by factors such as the rise in demand for single-portion packs or small packs, increased demand for convenience food, concerns about product safety & security, and need for product differentiation and branding. The presence of major plastic caps & closures manufacturers has also contributed to the growth of the plastic caps & closures market in this region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Plastic Caps & Closures Market
4.2 Plastic Caps & Closures Market, by Product Type
4.3 Plastic Caps & Closures Market, by Technology
4.4 Plastic Caps & Closures Market, by Container Type
4.5 Plastic Caps & Closures Market, by Raw Material
4.6 Plastic Caps & Closures Market, by End-Use Sector
4.7 Plastic Caps & Closures Market, by Country
4.8 APAC: Plastic Caps & Closures Market
4.9 Plastic Caps & Closures Market: Regional Snapshot
5 Market Overview
5.2 Value Chain Analysis
5.3 Market Dynamics
126.96.36.199 Increase in Demand for Bottled Water
188.8.131.52 Need for Convenience and Concerns About Product Safety & Security
184.108.40.206 Product Differentiation & Branding and Decreasing Package Sizes
220.127.116.11 Development of Substitutes
18.104.22.168 Emerging Economies
22.214.171.124 Mature Markets in Developed Regions
5.4 Porter's Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
5.5 COVID-19 Impact on Plastic Caps & Closures Market
5.5.1 Impact of COVID-19 on Plastic Packaging
5.5.2 Impact of COVID-19 on End-Use Sectors for Plastic Caps & Closures 62
126.96.36.199 Impact of COVID-19 on Food & Beverage Industry
188.8.131.52 Impact of COVID-19 on Pharmaceutical Industry
184.108.40.206 Impact of COVID-19 on Personal & Homecare Industry
5.5.3 Impact of COVID-19 on Various Countries
6 Plastic Caps & Closures Market, by Product Type
6.2 Screw-On Caps
6.3 Dispensing Caps
7 Plastic Caps & Closures Market, by Container Type
8 Plastic Caps & Closures Market, by Technology
8.2 Post-Mold Tamper-Evident (Te
8.3 Compression Molding
8.4 Injection Molding
9 Plastic Caps & Closures Market, by Raw Material
9.2 Pp (Polypropylene
9.3 Hdpe (High-Density Polyethylene
9.4 Ldpe (Low-Density Polyethylene
10 Plastic Caps & Closures Market, by End-Use Sector
10.5 Personal & Homecare
11 Plastic Caps & Closures Market, by Region
11.4 North America
11.5 Middle East & Africa
11.6 South America
12 Competitive Landscape
12.2 Competitive Leadership Mapping
12.2.2 Emerging Leaders
12.2.4 Emerging Companies
12.3 Strength of Product Portfolio
12.4 Business Strategy Excellence
12.5 Market Ranking of Key Players
12.6 Competitive Scenario
12.6.1 Expansions & Investments
12.6.2 Mergers & Acquisitions
12.6.3 Contracts & Agreements, Joint Ventures & Partnerships, and Collaborations 165
12.6.4 New Product Launches/Development
13 Company Profiles
13.1 Berry Global Group, Inc.
13.2 Amcor plc
13.3 Crown Holdings, Inc.
13.4 Silgan Holdings
13.7 Coral Products
13.8 O.Berk Company, LLC
13.9 Guala Closures S.P.A
13.10 Additional Companies
13.10.1 United Caps
13.10.2 Caps & Closures Pty Ltd
13.10.3 Caprite Australia Pty. Ltd
13.10.4 Pano Cap (Canada
13.10.5 Plastic Closures Limited
13.10.6 Cap & Seal Pvt. Ltd
13.10.7 Phoenix Closures
13.10.8 Alupac India
13.10.9 Hicap Closures
13.10.10 Mjs Packaging
13.10.11 J.L. Clark
13.10.13 Comar, LLC
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