Plastic Caps and Closures Market expected to witness high growth over the forecast period 2020-2028 according to a new research report!! Phoenix Closures, Inc., Global Closure Systems, Amcor Limited, Comar LlLC, Alcoa Corporation

This research report analyzes Plastic Caps and Closures Market based on market segments, major geographies and current trends in the market. This report provides a comprehensive analysis of market growth drivers, factors that limit market growth, current market trends, market structure, and market projections for coming years. It includes an analysis of recent technological developments and detailed profiles of top players in the industry. The report also includes a review of essential micro and macro factors about existing market players and new entrants along with detailed analysis of the value chain.

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According to the latest report by QMI, consumption of plastic caps & closures on the basis of their recyclability feature continues to follow a positive growth path. In the beverage industry, where they are used for packaging carbonated and non-carbonated drinks like bottled water and fruit beverages, these caps & closures are becoming a rage.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Phoenix Closures Inc.
2. Global Closure Systems
3. Amcor Limited
4. Comar LlLC
5. Alcoa Corporation

Plastic caps and closures keep items fresh within an extended usability time span. These are intended to fit a specific type of jug, container, or neck holder keeping the product quality intact. Using these, a broad range of types of materials can be supplied. These also ensure that medication jugs and compartments remain safe without any damage.

The Plastic Caps and Closures Market is expected to record high demand over the forecast period with majority of demand coming from major end-use industries such as Personal Care, Food, Pharmaceuticals, Cosmetics, and Others. The food industry is one of the region's largest contributors to the caps and closures market. Consumers are becoming more health-conscious, and demand for healthy beverages is rising along with increasing personal income has made bottled water a more accessible convenience for individuals and is enhancing the caps and closures market growth factor.

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Plastic caps and closures have the advantage of the cost of materials used; for example, high-thickness polyethylene (HDPE) and polypropylene (PP). Plastic Caps and Closures Market has been segmented into material, type, end-use industry and region. Based on end-use industry, the market segmented into food, personal care, pharmaceuticals, cosmetics, and others. Increasing the use of plastic caps and closures in the pharmaceutical sector is driving market growth. The growing demand for childcare items is projected to have a positive effect on the global caps and closures market.

Important Development:

o In Feb 2019 Aptar has launched a closed dispensing process made of recycled resin after consumption. In Europe, 50 per cent of recycled PC is used by the company in the manufacture of dispensing closure, ensuring the global transition to a circular economy and sustainable future.

Strategic Factors Impacting Market Growth:

o Rising construction activities in the Asia Pacific region
o High demand from the healthcare sector

Asia Pacific is expected to have the largest market share and to dominate over the forecast period. This region provides potential opportunities for growth, as developing countries like China and India are expected to be emerging markets, making it the fastest-growing plastic caps and closures market. In this region, the growth of the plastic caps and closures market is driven by factors like growth in beverage, healthcare, and personal care products industry. Other factors driving the market are growing population and the economic development. Germany is Europe's largest beverage industry, representing the fourth largest industry sector. In Germany, demand for PP is growing more rapidly due to high demand for beverage products such as energy drinks, mocktails, etc.

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Market Segmentation:
By Material:
PET
PP
HDPE

By Type:
Screw Caps
Dispensing Caps
Closures

By End-Use Industry:
Food
Pharmaceuticals
Cosmetics
Personal Care
Others

By Region:
North America
By Country (US, Canada, Mexico)
By Material
By Type
By End-Use Industry

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Material
By Type
By End-Use Industry

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Material
By Type
By End-Use Industry

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Material
By Type
By End-Use Industry

Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Material
By Type
By End-Use Industry

Rest of the World
By Region (South America, Africa)
By Material
By Type
By End-Use Industry

Reasons To Buy This Report:
Market size estimation of the plastic caps and closures market on a regional and global basis
Unique research design for market size estimation and forecast
Profiling of major companies operating in the market with key developments
Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
By Segment
By Sub-segment
By Region/Country

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This release was published on openPR.