“The Global Plastic Caps and Closures Market is expected to grow at a CAGR during the forecast period 2021-2028″.
Plastic Caps and Closures are the final components of the packaging process used in various industries such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. for maintaining the quality of the products, freshness, and increasing the shelf life.
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The market growth is driven by the rising demand for plastic caps and closures due to their characteristics such as versatility, easy availability, durability, and flexibility. The growing trend of e-commerce shopping is also influencing the use of plastic caps and closures. Plastic caps and closures are widely used in toiletries for producing hair preparations products, face creams, lotions, and perfumes due to rising emphasis on health and hygiene.
Several companies are preferring plastic caps and closures due to their lower transportation cost, cost-effectiveness, durability, customizability, and chemical stability. New product launches and product diversification shall have a positive impact on the market. For instance, in March 2019, Aptar Beauty has launched a new dispensing closure made from 50% Post-consumer recycled resin (PCR) to be used on Ecover washing up liquid. It would ensure a leading position in the global transition to a circular economy and a sustainable future.
However, consumer health concerns and government taxes on the use of plastic caps and closures are hindering market growth.
High-Density Polyethylene (HDPE)
Low-Density Polyethylene (LDPE)
Polyethylene Terephthalate (PE)
By Product Type
Liquid Carton Closures
Plastic Aerosol Sprays
Plastic Lotion Pumps
Food & Beverages
Cosmetics & Toiletries
The Middle East and Africa
The global plastic caps and closures are witnessing high competition with the presence of several local and international players. Amcor Limited, Silgan Holdings Inc., Comar LLC, AptarGroup, Alcoa Corporation, Phoenix Closures, Inc., and Guala Closures Group are the leading market players with prominent market size.
Companies are using different strategies such as portfolio expansion, product diversification, new product launch to increase their market penetration. Different processes such as injection molding, compression molding, and others are used for the production of plastic caps and closures.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for plastic caps and closures and their expansion across the globe. For instance, in January 2020, Silgan Holdings Inc. had acquired Albea’s dispensing business for USD 900 million. It would enable Silgan to enhance the scope of our leading closures franchise by introducing the new products and capabilities in the highly engineered dispensing category.
In August 2019, AptarGroup, Inc. had entered into an exclusive partnership with Nippon Closures Co., Ltd. (NCC) to cross-license technology for tethered beverage closures. This is the first cross-license, registered intellectual property exchange between NCC and Aptar. It would allow Aptar to grow the portfolio of dispensing closures that are more convenient for consumers and more sustainable for the environment.
The companies are also investing to increase their production capabilities around the globe. For instance, in January 2020, Berry Global Group Inc. had raised an investment of USD 20 million to add capacity for breathable films. The company would add capacity at plants in Augusta, Ky., Nashville, Tenn., McAlester, Okla., and Washington, Ga.
Sai Kiran Sales Manager at DataM Intelligence Email: [email protected] Tel: +1 877 441 4866 Website: www.datamintelligence.com