Plastic caps and closures are used to provide sealing to containers and bottles. It provides numerous advantages such as durability and flexibility which in turn has expanded its application across various industries such as food & beverages, cosmetics, pharmaceuticals, household items, and personal care. It further offers protection from corrosion and is economical, versatile, lightweight, which in turn is boosting the product demand.
At a compound annual growth rate of 5.5%, the size of the worldwide Plastic Caps & Closures market is projected to reach $1,240.0 Million in 2030.
.jpg "The Global Plastic Caps And Closures Market 2020-2030 (USD Million)")
Plastic caps and closures provide a shield the packed item from dirt, oxygen, and moisture, and further safeguard the product from undesired opening. It is primarily used across the packaging industry in order to preserve products and extending shelf life. Furthermore, Caps and closures industry utilizes multiple materials to develop suitable packaging for different types, including metals, plastics, and rubber.
The primary function of the packaged item is to extend shelf life of food & beverages along with enhancing the packaged product capability to sustain flavor, taste & odor for a long time. Ongoing development across the industry to develop eco-friendly caps and closures through the utilization of the recycling process and natural ingredients is stimulating the business landscape.
Plastic Caps & Closures Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2020-2021 |
| Forecast Period | 2022-2030 |
| Study Period | 2020-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $ 1,240.0 Million |
| Growth Rate | CAGR of 5.5% during 2020-2030 |
| Segment Covered | By Product, Procedure, Material, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Medtronic, plc (Ireland), Depuy Synthes Inc. (Johnson & Johnson) (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), RTI Surgical, Inc. (U.S.), Amedica Corporation (U.S.), Exactech Inc. (U.S.), Integra LifeSciences (U.S.), LDR Holding Corporation (U.S.), Quandary Medical LLC (U.S.), AESCULAP (U.S.), Alliance Spine (U.S.), Apollo Spine (U.S.), Premia Spine (Israel), Ascendx Spine (U.S.), A-Spine (Taiwan), Back 2 Basics Spine (Canada), Accel Spine (U.S.) |
Key Segment Of The Plastic Caps & Closures Market
By Product (USD Million)
• Spinal Fusion Devices
• Non Fusion Devices
• Spinal Bone Stimulators
By Procedure, (USD Million)
• Open Surgery
• Minimally Invasive Surgery
By Material, (USD Million)
• Titanium
• Titanium Alloy
• Steel
• Plastic
Regional Overview, (USD Million)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of plastic caps and closures market in 2030 was $1,240.0 Million
The major contenders in the global plastic caps and closures market Silgan Holdings Inc., Comar LLC, Global Closure Systems, AptarGroup, TriMas, and Alcoa Corporation including others.
Growing demand for bottled water along with rising concerns about product characteristics is positively influencing the industry landscape. In addition, the growing demand for packaged carbonated drinks such as juices, milk is fueling the product demand. Although, ongoing development of substitutes coupled with mature market in developed markets has hampered the industry growth. However, ongoing innovation activities to boost product capabilities along with rising industry efforts to develop eco-friendly product is reinforcing the industry growth. Moreover, rising middle class income coupled with ongoing product penetration across developing countries is poised to complement the business outlook over the forecast timeline.
Type Segment
On the basis of the type segment, the market is categorized dispensing caps, closures, and screw caps. Screw caps segment dominates the global Plastic Caps & Closures market in 2018 and is anticipated to dominate the industry for the forecast period 2019-2025.
End-User Segment
Plastic Caps & Closures market is segmented into food & beverages, pharmaceutical, personal care, and others on the basis of end-user. In this segment, food & beverage segment is anticipated to hold a substantial share in the coming years.
-2018-2025-(USD-Billion).png "Global Plastic Caps & Closures Market by End-User (Food & Beverages) 2018-2025 (USD Billion)")
Material Segment
On the basis of application segment, the market is segmented into polyethylene, polystyrene, polypropylene, and others. The polypropylene segment is analyzed to hold a significant share across the regions.
Europe is expected to experience the significant growth over the forecast period. The steady growth owing to rising demand for lightweight and environmentally friendly product in across the consumer goods and food & beverage industry is stimulating the industry size in the region. Furthermore, government and regulatory bodies are promoting adoption of recyclable products, which in turn is fueling the paper demand. The recent boost by the government authorities to develop sustainable material will further complement the industry size over the forecasted timeline.
The major players operating across the global Plastic Caps & Closures market include Silgan Holdings Inc., Comar LLC, Global Closure Systems, AptarGroup, TriMas, and Alcoa Corporation including others. The industry for Plastic Caps & Closures is integrated with the participation of established global players across the globe. In addition, these companies are focusing on expanding their footprint through implementation of inorganic as well as organic strategies which in turn is proliferating the business outlook.