UV Metallized Caps & Closures Market Evolving Technology, Trends and Industry Analysis & Forecast to 2023

Global UV metallized caps and closures market is expected to reach $378.9 million by 2023. The growth of the market is driven by the growing demand from cosmetics, fragrance, and skin care industries; and rising demand of food and beverages across the globe.

the UV metallized caps and closures market is segmented into aluminum, alloy, and others. Others include chromium, silver, gold, and platinum. Aluminum has been the largest metallizing material due to its several benefits such as low cost, lightweight, glossiness similar to silver, and corrosion resistance. Owing to such benefits, the use of aluminum as metallizing material is growing across packaging applications for industries including cosmetics, fragrance, skincare, food and beverage, and others.

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Globally, Europe has been recording the highest revenue in the UV metallized caps and closures market. From the supply side, the growth of the European market is driven by the increase in the production capacity and production cost optimization by manufacturers through low cost raw material sourcing. Also, the demand of UV metallized caps and closures is growing in countries such as the Czech Republic, Poland, Slovakia, Hungary, and others, which is driving the overall growth of the market in Europe.

North America is estimated to account for the second highest revenue share in the global UV metallized caps and closures market. From the supply side, the growth of the North American market is driven by the increase in import of low cost UV metallized cosmetics packaging components from Asian countries, and growing usage in fragrance companies. The growing demand for metallized packaging for color cosmetics among consumers is also fueling the growth of the market.

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The increasing growth in consumer spending on cosmetics, and foods and beverages in Asian countries is a key opportunity staring at the UV metallized caps and closures market. Economic prosperity in Asian countries has led to an increase in the disposable income of the region’s population. The increase in disposable income allows people to spend more on lifestyle products. Consumers are increasingly splurging on different types of cosmetic products such as sunscreen and anti-aging creams, lotions, and others.

Some of the major players operating in the UV metallized caps and closures industry Albea Beauty Holdings S.A., RPC Group Plc, HCP Packaging Co. Ltd., Quadpack Industries, Eurovetrocap Spa, ILEOS, Essel Propack Limited, Politech Sp. z.o.o, Lumson S.p.A, and Hangzhou Zhenhua Daily Chemicals Glass Co. Ltd.

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