Plastic Caps & Closures Market 2019 Valuable Industry Status by Trend Analysis, Growth Status, Revenue Expectation to 2024 | Industry Research.co
Plastic Caps & Closures Market share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
The “Plastic Caps and Closures Market” 2019 provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. Important factors supporting growth across various is also provided. The impact of prevailing regulatory scenario on both regional and worldwide Plastic Caps and Closures market is provided in detail in the report. Industry Research offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Plastic Caps and Closures market is based on company profiles and their efforts on increasing product value and production.
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Some of The Major Key Players of Plastic Caps and Closures Market Are:
- Albea Group
- Amcor Ltd
- Aptar Group Inc.
- Ball Corporation
- BERICAP GmbH and Co. KG
- Berry Global, Inc
- Crown Holdings Inc.
- Evergreen Packaging Inc.
- Global Closure Systems
- Guala Closures Group
- Pact Group
- Silgan Holdings Inc.
- Tetra Laval International
Scope of the Report:
- Plastics are mainly used for the closures of the plastic bottles. Closures are devices and techniques used to close or seal container such as a bottle, jug, jar, tube, can, etc. Closures can be a cap, cover, lid, plug, etc. Plastic bottle’s caps are usually made from different kinds of plastics. These caps may or may not have pour spouts.
- The global plastic caps and closures market was valued at USD 2157.71 billion in 2018 and is expected to reach a value of USD 2993.80 billion by 2024 at a CAGR of 5.62%, over the forecast period (2019-2024).
- – Plastic caps and closures serve a stretch of industries segment such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. Caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing.
- – Caps and closures use PET, PP, and PE as the primary raw materials for manufacturing. Industries rely heavily on the plastic caps and closures as they provide a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been increasing at a healthy rate and as an impact of this, the caps and closures market is also expected to record an increase in demand in the forecast period.
- – However, this industry is comprehensively dependent on the suppliers of raw materials for manufacturing. PET and PE, which are used as raw materials, have significantly fluctuating costs in the market. As the cost of production is dependent on this raw material, manufacturers find it difficult to maintain constant output.
- Drivers: (Developing regions and growing markets)
- Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
- Opportunities: (Regional, Growth Rate, Competitive, Consumption)
The report provides key statistics on the market status of the Plastic Caps and Closures Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Plastic Caps and Closures .
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Key questions answered in the report include:
- What will the market size and the growth rate be in 2024?
- What are the key factors driving the global Plastic Caps and Closures market?
- What are the key market trends impacting the growth of the global Plastic Caps and Closures market?
- What are the challenges to market growth?
- Who are the key vendors in the global Plastic Caps and Closures market?
- What are the market opportunities and threats faced by the vendors in the global Plastic Caps and Closures market?
- Trending factors influencing the market shares of the relevant regions.
- What are the key outcomes of the five forces analysis of the global Plastic Caps and Closures market?
Key Market Trends:
Polyethylene Terephthalate to Account for a Significant Demand for Plastic Caps
– Polyethylene terephthalate (PET) is commonly used in food packaging due to its strong barrier properties against water vapor, dilute acids, gases, oils, and alcohols. PET is also shatter-resistant, slightly flexible and easy to recycle. Owing to several companies investing heavily in RandD to come up with unique and cost-effective products, the market is witnessing a large number of innovations. Dow Industries has come up with a new range of PET resins portfolio for manufacturing of caps and closures.
– Moreover, with the advent of plastic PET bottles for beer packaging, plastic is gaining acceptance in alcohol and beer packaging as well. Breweries in Britain, Australia, and Switzerland have been marketing beer in PET bottles. This is due to the use of various barrier systems such as silicon oxides combined with PET, that provides better potential for stronger penetration of this massive market.
– PET bottles are one of the major packaging material used globally. According to PlasticsEurope, Europe shows a significant increase in demand for plastic over the years for PET bottles as PET is a preferred choice of increasing demand for plastic converters.
North America to Occupy Major Share
– The food industry is one of the major contributors to the caps and closures market in the region. Majority of the manufactured food products are packaged in PET containers, which are covered with metal lids and other plastic enclosures, to protect them from contamination.
– Food products stored in bottles are being protected through various kinds of airtight plastic closures. Metal caps or closures are also used for the storage of food products, such as grains, typically stored in glass containers. The United States in the second largest food market across the globe and its expected to account for a considerably high share of the caps and closures market catering to in food industry end-user segment.
– In the United States and Canada, retail shelf packaging is growing popular, owing to the changing lifestyles of the people. This faster pace of lifestyle is expected to further fuel the growth of sales through retail channels.
– This trend is further bolstered by the growing millennial population in the workforce. Millennial population in the United States is found to work across flexible work hours, which further bolsters the demand for on-the-go foods, which is expected to drive the market for caps and closure (owing to increase in packaged food).
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Study objectives of Plastic Caps and Closures Market Report:
- To provide a detailed analysis of the market structure along with the forecast of various segments and sub-segments of the Plastic Caps and Closures market
- To provide insights into factors influencing and affecting market growth
- To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
- To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
- To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
- To provide economic factors, technology trends, and market trends that influence the global Plastic Caps and Closures market
Detailed TOC of Plastic Caps and Closures Market Report 2019-2024:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Product Innovation to Aid Product Differentiation and Branding
4.3.2 Rising Demand for Smaller Sized Packs
4.3.3 Increasing Demand from Small and Medium Scale End-user Industries
4.4 Market Restraints
4.4.1 Regulations Putting the Onus of Environmental Degradation on Manufacturers and Charging Taxes
4.4.2 Availability of Substitute Products
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.4 Cosmetics and Toiletries
5.1.5 Other Applications
5.2 By Raw Material
5.2.5 Other Raw Materials
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Albea Group
6.1.2 Amcor Ltd
6.1.3 Aptar Group Inc.
6.1.4 Ball Corporation
6.1.5 BERICAP GmbH and Co. KG
6.1.6 Berry Global, Inc
6.1.7 Crown Holdings Inc.
6.1.8 Evergreen Packaging Inc.
6.1.9 Global Closure Systems
6.1.10 Guala Closures Group
6.1.11 Pact Group
6.1.12 Silgan Holdings Inc.
6.1.13 Tetra Laval International
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Name: Ajay More
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