Rising Demand and Technology Advancements in Plastic Caps and Closures | Industry Growth & Share with Forecast

Plastic caps and closures are components used to seal containers, maintaining product freshness, preventing spills, ensuring safety, and offering branding opportunities. They come in various types and sizes to suit different products and packaging needs. The Plastic Caps and Closures Market?size is projected reach USD 57.0 billion by 2025, at a CAGR of 5.2% between 2020 and 2025. The major driving factors of the market include an increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes.

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Plastic caps & closures are used to seal contents within containers, safeguard the packaged product, and to extend the shelf life of the product. The cost-effectiveness, low weight, and compatibility of plastic caps & closures play a crucial role in the growth of the overall market. The plastic caps & closures find their application in various end-use sectors, such as beverage, pharmaceutical, #food, and personal & home care, among others. Increase in demand for bottled water, need for convenience, concerns about product safety & security, product differentiation & branding, and decreasing package sizes are major factors driving the plastic caps & closures market.

In terms of value, the post-mold TE band segment is projected to account for the largest share of the plastic caps & closures market, by technology, during the forecast period.

In the post-mold technology, slitting is a secondary operation to achieve tamper-evident plastic caps & closures. The molding and slitting of plastic caps & closures in the injection or compression molding machine are time-consuming and capital intensive. Therefore, the slitting of plastic caps & closures is a separate process as this process is cost-effective and time-effective against slitting in the?#moldingmachine

The screw-on caps segment is projected to be the fastest-growing product type in the plastic caps & closures market during the forecast period.

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 should comply with the product, package, and environmental laws and regulations. In the beverages industry, plastic caps & closures are tamper-resistant, which further helps tackle the issues of counterfeiting. A tamper-evident band is a common tamper warning for screw caps of bottles.

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The pharmaceutical industry is projected to register the highest CAGR during the forecast period.

It is very important to maintain the quality of #pharmaceutical products during the manufacturing process. Pharmaceutical products can be contaminated through air particles, dust, and microorganisms. To avoid contamination, plastic caps & closures are used to seal the medicines in the #pharmaceuticalindustry. The packaging of healthcare products is of utmost importance to protect the contents from air, dust, and moisture. An increase in chronic ailments, an increase in the aging population, and a rise in disposable income in developing nations drive the demand for #healthcare products, thereby driving the demand for plastic caps & closures.

The North American region leads the plastic caps & closures market in terms of volume.

North America is projected to be the fastest-growing market for plastic caps & closures during the forecast period. The increase in consumption of CSDs and packaged food, high disposable income levels, and growth in demand for convenience food are supporting the market in North America. Improvements in the economic situation and rise in demand for innovative packaging also contribute to the growth of the plastic caps & closures market. The growth in this region, especially in the US, has been exponential over the last five years. Plastic closures have been replacing every possible type of closures in North America.

Plastic Caps and Closures Market Key Players?

The key players in the #plasticcapsandclosuresmarket are Berry Global, Inc. (US), Crown Holdings, Inc. (US), AptarGroup S.A. (US), Amcor (Australia), Coral Products PLC (UK), BERICAP (Germany), Silgan Plastics (US), O.Berk Company, LLC (US), Guala Closures Group (Italy), UNITED CAPS (Luxembourg), Caps & Closures Pty Ltd. (Australia), CapRite LLC Australia Pty Ltd. (Australia), Pano Cap (Canada) Limited (Canada), PLASTIC CLOSURES LIMITED Ltd. (UK), Cap and Seal (Indore) Pvt Ltd. Ltd. (India), Phoenix Closures (US), ALUPAC India (India), Yantai Hicap Closures Co., Ltd. (China), MJS Packaging (US), J.L. Clark (US), TriMas Corporation (US), and Comar, LLC (US).

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