Seattle, WA -- (SBWire) -- 11/21/2019 --Plastic caps and closures act as effective sealing devices of bottles and containers. Versatility, durability, and flexibility afforded by plastic coupled with its economical production rate make it a viable choice for packaging. The effectiveness against tampering of products acts in favor of caps and closures as a packaging method. As per a new and detailed report by Worldwide Market Report, the global plastic caps and closures market is projected to experience massive growth at a 5.1% CAGR during the assessment period (2019-2027). The rise in convenience packaging is expected to augur the market growth till 2027. Various strides in packaging production methods can be a plus for the market as well.
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Plastics are mainly used for the closures of the plastic bottles. Closures are devices and techniques used to close or seal containers, such as a bottle, jug, jar, tube, can, etc. Closures can be a cap, cover, lid, or plug. Plastic bottle's caps are usually made from different kinds of plastics. These caps may or may not have pour spouts.
Plastic Caps and Closures Market Overview:
- The plastic caps and closures market is expected to register a CAGR of 5.1% over the forecast period (2019-2025).
- Plastic caps and closures are used in a stretch of industries segments, such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. Caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing.
- Caps and closures use PET, PP, and PE as the primary raw materials for manufacturing. Industries rely heavily on the plastic caps and closures, as they provide a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been increasing at a healthy rate and as an impact of this, the caps and closures market is also expected to record an increase in demand during the forecast period.
- However, this industry is comprehensively dependent on the suppliers of raw materials for manufacturing. PET and PE, which are used as raw materials, have significantly fluctuating costs in the market. As the cost of production is dependent on this raw material, manufacturers find it difficult to maintain constant output.
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Other
By Application, the market can be split into
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Household
- Other
The major players profiled in this report include:
Amcor, Reynold Group, Aptar Group, Portola Packaging, Berry Plastics, Crown Holdings, Bericap, Mocap, Mold Rite Plastics, Silgan Plastics, MWV, Alpha Packaging, All American Containers, MJS Packaging, Closure Systems International
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Is Plastic Caps and Closures Market Will Grow in 2027? Checkout This Report !