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June 30, 2020, 3:27 p.m. EDT

Plastic Caps and Closures Market Global Growth Drivers, Restraints, and Trends by 2028

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Jun 30, 2020 (Market Insight Reports) -- Global Plastic Caps and Closures Market to Grow Rapidly due to blooming Healthcare and Security Sector

As a result of the growing focus on branding and product differentiation, there is an increased demand for plastic caps and closures with different colors and altered company logo, which in turn propels the market growth.

The increasing emphasis on health and hygiene has also resulted in the growth of the toiletries industry. The expansion of the toiletries industry is propelling the demand for plastic closures and caps. Different initiatives taken by the market players is another mentionable factor.

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A combination of different market factors are supporting the growth of the market. One of the mentionable factor in this context is expanding beverages industry and increasing market competition among industry players. The elevated competition among market players has resulted in an increasing emphasis on branding and product differentiation among packaged water and drinks manufacturers.

Key Takeaways of the Plastic Caps and Closures Market

  1. North America holds the second-largest market due to the increasing popularity of retail shelf packaging, and rising demand for on-the-go foods are some of the contributing factors for the market share occupied by this region.

  2. The Screw Caps segment yielded the highest due to its extensive use in different industries because of its traits like lightweight, cost-effective, user-friendly, can be tamper-evident and provides with enhanced security to the product within the bottle.

  3. The Foods and Pharmaceuticals segment holds the largest market due to the continuous expansion of the beverage industry and the increasing demand for online food delivery sector.

Notable Development Trends to Open up New Horizons of Growth for Plastic Caps and Closures Market

With the on-going trends in the market, government support initiatives for businesses, companies are announcing numerous collaborations that are likely to have a synergistic effect on market. These efforts and initiative have led to partnerships and increasing market competition.

In an instance, Klockner Pentaplast Group had entered into a marketing alliance with Berry Plastics Group, Inc., a market player of plastic closures and caps. Such initiatives taken by industry players helps in supporting the expansion of the market.

Major points covered in the report:

  1. An overview of the market, including background and evolution

  2. Macroeconomic factors affecting the market and its potential

  3. Market dynamics, such as drivers, challenges, and trends

  4. Detailed value chain analysis of the market

  5. The cost structure of the products and segments covered in the study

  6. In-depth pricing analysis, by key product segments, regions and by major market participants

  7. Scrutiny of demand and supply, such as top consuming geographies with leading producers, overall trade with imports/exports scenario

  8. Analysis of the market structure, including a tier-wise categorization of key market participants

  9. Competitive landscape of the market, including detailed profiles of the top players in this market

The report consists of expert opinions with extensive market study, which is classified in segments such as application, product type, and region. All the segments of the market are comprehensively analyzed based on their growth scenarios, market share, and CAGR.

Companies operating in the market are Phoenix Closures, Inc., Global Closure Systems, Amcor Limited, Comar LlLC, Alcoa Corporation, and TriMas

Market Segmentation:

By Material:

  • PET

  • PP

  • HDPE

By Type:

  • Screw Caps

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