Global Plastic Caps and Closures Market Witnessed to Gain Steady Expansion and Reach a Value of US$ 54,800 Mn by 2027

Published on : Aug 10, 2018

Albany, New York, August 10, 2018: Market Research Hub (MRH) has recently announced the addition of a study titled “Plastic Caps and Closures Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027” to its online repository, offering readers a holistic outlook of the market and estimated market size of plastic caps & closures for 2017 and forecast for the next ten years. The global market size and forecast has been provided in terms of revenue and volume. Analysts of the report found that, with many companies investing significantly in R&D to come up with the unique and cost-effective products, the innovations in caps and closure market is increasing.

Caps & closures are the finishing components of packaging and are responsible for maintaining the integrity of the product packing. They are used to seal or close a bottle, jar, tube, can or any other container. In recent years, replacement of glass bottles with plastic bottles and the flourishing beverages industry is projected to positively influence the growth of the global plastic caps and closures market. According to the study key evaluations, the global plastic caps and closures market was estimated to be valued at nearly US$ 34,200 Mn in the year 2017 and is likely to reach a valuation of nearly US$ 54,800 Mn by 2027 end. Also, the global plastic caps and closures market is anticipated to display a CAGR of 4.8% by value during 2017-2027.

In order to explain the intensity of competition in the market, the report has been segmented geographically into major regions including North America, Japan, Europe, Asia Pacific excluding Japan, Latin America, and the Middle East and Africa. As per the assessment, consumers are becoming more health conscious and the demand for healthy beverages is on the rise and this is contributing to the healthy growth of the plastic caps and closures market in the APEJ region.

Moreover, the study presents an overview of the global plastic caps and closures market on the basis of cap type, material type and end-use. End-use industries where plastic caps and closures are used in bottles include beverage, cosmetics and personal care, household, food and chemical products. Of these, the beverages segment in the end-use category is likely to reach a valuation of nearly US$ 27,200 Mn until the end of the year 2027. The thermoplastics segment in the material type category estimated to gain significant growth in the future.

Above all, company profiles of the market participants are deliberated in the final chapters of the report. This information is merged with awareness about recent developments achieved by these market participants. Some of the companies operating in the global plastic caps and closures market include Bericap GmbH and Co KG, Georg MENSHEN GmbH & Co. KG Closure Systems International, Inc., Silgan Plastic Closure Solutions, Blackhawk Molding Co. Inc., Global Closure Systems, AptarGroup, Inc., Berry Plastics Group, Inc., Amcor Limited, O.Berk Company, LLC, CL Smith Company, and Takween Advanced Industries among others.

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