Caps
and closures are devices or methods to seal bottles, cans and tubes
among others. Caps and closures are employed in the packaging
industry primarily for preserving products and thus extending shelf
life of the products. Plastic and metal are among the major materials
employed in the manufacturing of caps and closures. Other niche
product segments include wood, paper, and glass among others.
Historically,
metal has been the predominant product segment for the market.
Plastic based closures are gaining acceptance and are expected to be
the fastest growing segment in the near future. Tin and aluminum
dominate the demand for metal based caps and closures. Demand for
plastic based caps and closures are expected to be driven by growing
demand for polyethylene and polypropylene. Increasing research and
development activities in niche product segments such as paper and
rubber is expected to offer huge growth opportunity in the market.
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Major
end user industries for caps and closure market include beverages,
food, pharmaceutical, cosmetics and home care products among several
others. Beverages segment dominates the global caps and closures
market and the trend is expected to continue during the forecast
period. Pharmaceutical is expected to be the fastest growing
application segment for caps and closures primarily owing to high
growth in the pharmaceutical industry.
Consumer
markets such as food, cosmetics and beverages dominate the global
demand for caps and closures. Hence, overall economic growth, growing
disposable income and other macro economic factors in a region are
among the foremost growth determinants for the demand of caps and
closures. Demand in various home care and pharmaceutical products is
driven by innovative solutions such as child protection and
aesthetics of the material. Growth in pharmaceutical industry is
expected to be the foremost driver for caps and closure market growth
during the forecast period. Several innovative packaging solutions
have been developed which eliminate the use of caps and closures.
These packaging solutions are expected to be among major factors
restraining market growth. Bio degradability and recyclability issues
associated with traditional caps and closures materials are expected
to drive demand for bio based products such as paper in the near
future.
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Asia
Pacific dominates the global caps and closures market both in terms
of production and consumption. Asia Pacific is also expected to be
the fastest growing region during the forecast period primarily owing
to increasing industrial investment and high GDP growth rate in the
emerging economies of India and China. Demand for caps and closures
in the developed economies for North America and Europe is
anticipated to grow at a sluggish rate owing to market saturation in
various end user industries. Developing region in Latin America and
Africa are expected to offer huge growth opportunity for caps and
closures market during the forecast period.
Caps
and closures market is highly fragmented and dominated by regional
players. Owing to low capital investment, the dominance by regional
players is expected to continue in the near future. Joint ventures,
acquisitions and strategic alliances with regional players are among
major tools for expansion in the market. Some of the major players in
the caps and closures market include Berry Plastics Corporation,
Crown Holdings, Portola Packaging Inc, Global Closure Systems, Silgan
Holdings, Paradigm Packaging Inc., Reynolds Group Holdings and
PolyChem Alloy Inc among others.
This
research report analyzes this market depending on its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons
for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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