Albany, NY -- (SBWire) -- 07/16/2018 --Metals such as aluminum provide high barrier properties against moisture. Metals are bio-degradable and recyclable which possesses minimal effect on nature. Therefore, metal lug closures are highly preferred due to their composition of the metal. Moreover, highly aesthetic and luminous appearance with a smooth surface finish of metal lug closures attracts the end-users. Metal lug closures market has high penetration in the food industry while negligible in any other industry. Metal lug closures are majorly used with glass jars and bottles. With large and further growing food packaging market, metal lug closures market is expected to witness wide opportunity during the forecast period.
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Global Metal Lug Closures Market: Market Dynamics
For better grip over the highly smooth surface of metal lug closure, steps are provided on the peripheral surface which results in consumer convenience by providing ease in the opening of the metal lug closure. This trend is rapidly growing in the metal lug closures market. Plastisol lining is usually used in metal lug closures for high friction or tight sealing of the glass jars and bottles. Furthermore, a safety button is provided in the metal lug closures which act as a child-resistant closure. This development in the metal lug closures market has observed high adoption rate among global market players. Although metal lug closures provides high barrier protection to the primary product, the penetration of metal lug closures market is limited to the glass jars and bottles for food packaging, restricting the global market.
High availability of metals and machinery at economic prices has enabled Asia Pacific region to produce metal lug closures at low prices as compared to any other geographies. Also, large population and rapidly developing economies in the Asia Pacific region are leading to high consumption of packaged food. Although, the glass packaging demand for food packaging is significantly high in North America and Western Europe region. These factors indicate large market in Western Europe, North America and Asia Pacific region. Latin America and Eastern Europe countries are expected to witness gradual growth in metal lug closures market due to developing manufacturing sector in the regions while Middle East & Africa region is expected to possess sluggish growth in metal lug closures market due high dependency of the regional market on the imports.
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Global Metal Lug Closures Market: Key Players
The metal lug closures market players such as O.Berk Company, Crown Holdings Inc., and others are relatively more organized in North America and Western Europe region as compared to highly unorganized production of metal lug closures in Asia Pacific region.
Metal Lug Closures Market - Latest Trends and Key Drivers Supporting Growth Through 2028
Metal Lug Closures Market is growing rapidly as it provide high barrier properties against moisture which possesses minimal effect on nature due to their composition of the metal