FMI’s New Report, titled, “Plastic Caps And Closures Market: Global Industry Analysis and Opportunity Assessment 2016-2026” offers 10-year forecast and analysis.
Valley Cottage, NY -- (SBWIRE) -- 06/02/2016 -- The rising demand for the plastic caps and closures are an important part of packaging and containers such as bottles, canisters, tubes, cans and beverages cartons. Plastic is gradually replacing the traditional materials such as aluminium, tinplate etc. With competition going up and evolving high-tech enlargements, plastics caps and closures, has become ever more important in the global caps and closures market. With large market potential and growing preference of consumers, the global plastic caps and closures market is likely to observe a substantial growth in the near future.
Plastic products are anticipated to lift their share up in the global cap and closure market. The growing market of caps and closures has been undergoing a phase of new product development and technological advancements due to greater demand. The manufacturers are making high investments in the production and launch of innovative caps for diverse range of product types.
Plastic Caps and Closures Market: Drivers & Restraints
The global plastic caps and closures market is expected to grow due to several factors such ascontinual inroads by plastic containers into various applications as well as the growing popularity of plastic closures on other container types, such as gable top & aseptic cartons and stand-up pouches that are expected to rise the global plastic caps and closures. There is an existing virtual domination of plastic closures in the aseptic & gable top cartons and stand-up pouches.
The global plastic caps and closures market growth will also be supported by the rising technological developments and improvements in the processes such as hot-fill processing that is expected to positively influence the demand of plastic containers resulting in the expansion of its presence in markets which were once dominated by glass and metal containers.
The better availability of raw materials such as resins and advanced machinery is also expected to positively influence the demand for plastic caps and closure market.
Although, the beer market will remain highly reliant on glass bottles and metal cans which either use metal closures or don't use separate closures. The growing use of dispensing plastics closures are also rising the value of the global plastic caps and closures market.
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The global plastic caps and closures market is also facing some challenges such as the regulatory framework for caps and closures which can restrain the market growth. On the other hand the growing usage of packaging layouts without closures and concepts like blister packaging will also act as restraint obstructing the growth of the global plastic caps and closures market.
Plastic Caps and Closures Market: Segmentation
By end use type, the global plastic caps and closures market is segmented as follows:
Personal & Home Care Products
Others (Automotive etc.)
By product type, the global plastic caps and closures market is segmented as follows:
Other Plastic Caps
By raw material, the global plastic caps and closures market is segmented as follows:
Plastic Caps and Closures Market: Region-wise Outlook
The plastic caps and closures market is expected to register a favourable growth for the forecast period, 2016?2026. The Asia Pacific is projected to endure control on the global plastic caps and closures market due to its flourishing end user industries. Some of the other fastest growing regions in plastic caps and closures market are Latin America, Middle East and Africa. The North America and Western Europe are expected to register a moderate growth rate owing to the saturation of end use markets in the regions. The Eastern Europe is expected to depict a high growth in the future ahead.
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Plastic Caps and Closures Market: Key Players
The key players in the global plastic caps and closures are Blackhawk Molding Company Incorporated, Amcor, BERICAP holdings, Global Closure Systems, Crown Holdings, Siligan Holdings, Reynolds Group Holdings, Closure Systems International, Oriental Containers, Guala Closures Group, Berry Plastics, Pelliconi, Premier Vinyl Solution, etc.