Rigid Plastic Packaging Market Update: Exceeding Expectations of Key Players That Shows Promising Future
Seattle, WA -- (SBWIRE) -- 11/07/2019 -- Packaging is the process of the casing and protecting products available for sale, distribution, end-use, and storage. The rigid plastics are most toughened plastics used in varied applications for packaging products or materials. They are highly preferred for industrial purpose due to properties such as easily moldable, light in weight, non-corrosive, and cheap. Rigid plastic packaging is particularly used to increase the shelf life of the product. Plastic packaging includes different types such as ampules, bottles, aluminum bottles, cans, jars, corrugated cases, and aerosol containers.
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Key Growth Factor:
Increasing demand for biodegradable rigid plastic packaging is anticipated to boost the market growth in the near future. In addition, people moving towards beverages and other household care products also impact the global rigid plastic packaging market growth positively. On the other hand, rapidly increasing urbanization also contributes to the market growth. Furthermore, growing disposable income of the people will positively impact the market growth in the coming future. Basic properties of the rigid plastic such as higher stiffness, barrier, and strength are increasing the demand of these plastics in the market. Innovative designs for packaging in food and beverage industry will drive the rigid plastic packaging market in future.
The global rigid packaging market can be segmented based on types as paper, glass, metal, plastic, and others. Of which, plastic packaging is the dominating segment owing to better-preserving characteristics. The global market is segmented based on the end-user application as consumer usable products, food and beverage, personal care, electronics, pharmaceutical, and others. Of which, the food and beverage industry is the leading end-user application segment. Furthermore, pharmaceutical end-user application segment is the second largest in the global rigid plastic packaging market.
Asia Pacific is emerging as a dominating regional segment in terms of revenue globally. In addition, increasing demand for rigid plastic in China is also anticipated to drive the market in future. Moreover, favorable growth in food and beverage industry in China will augment the market in the coming years. Europe is also showing a considerable growth in the market due to increasing financial stability. North America is second largest region followed by Europe. Moreover, rapidly developing industrial network in North America is anticipated to foster the rigid plastic packaging market.
OKI, ALPLA Werke, Amcor, Bemis, Berry Plastics, Silgan Holdings, RPC, Coveris, Graham Packaging, Greiner Packaging, Plastipak, Printpack, Resilux, Pactiv, Winpak
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