Plastic Caps and Closures Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The plastic caps and closures market was valued at 1584.63 billion units in 2019 and is expected to reach 2049.6 billion units by 2026, at a CAGR of 4.6% over the forecast period 2021 - 2026. Heat induction cap liner could be used on the variety of bottles made up of different plastic materials such as PP, PVC, HDPE etc, which protects the container from leakage and provides tamper evidence characteristics to it, due to which the market will grow in future.

• Plastic caps and closures are used in a stretch of industries segments, such as food and beverages, pharmaceuticals, household goods, cosmetic products, etc. Caps and closures are the final components of packaging and are responsible for maintaining the integrity of the product packing.
• Caps and closures use PP and PE as the primary raw materials for manufacturing. Industries rely heavily on the plastic caps and closures, as they provide a cost-effective sealing solution. The demand for packaged food and pharmaceutical drugs has been increasing at a healthy rate and as an impact of this, the caps and closures market is also expected to record an increase in demand during the forecast period.
• However, this industry is comprehensively dependent on the suppliers of raw materials for manufacturing. PP and PE, which are used as raw materials, have significantly fluctuating costs in the market. As the cost of production is dependent on this raw material, manufacturers find it difficult to maintain constant output.

Scope of the Report

The plastic caps and closures market aims to study the various segments that are part of the manufacturing process of plastic caps and closures and the end consumers. Plastics are mainly used for the closures of the plastic bottles. End-users of plastic caps such as pharmaceuticals, cosmetics, and toiletries offer vast opportunities. The growth of ecommerce sites has resulted in a sharp rise in online shopping and will provide further growth to the market. 

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Key Market Trends

Polypropylene to Account for a Significant Share

• Plastics converters are the heart of the plastics industry. Polypropylene (PP) comes under thermoplastic which are reversible and can be reheated and reshaped. Polypropylene caps are known for good impact strength, durability, cost-effectiveness and thermal resistance. Polypropylene bottle caps are autoclavable. Wide mouth PP caps are well-suited for many dry products.
• F422 HDPE Foam Lined Polypropylene Caps of Qorpak are acid resistant. This F422 liner is comprised of a .38" LDPE core sandwiched between identical layers of .002" - .003" virgin HDPE. These polypropylene closures with foamed polyethylene liners have excellent sealing characteristics and offer good chemical resistance including acids, alcohols, alkalis, aqueous products, cosmetics, household oils and solvents.
• The food and drink industry is the EU's biggest manufacturing sector in terms of jobs and value added by which the demand for plastic converter is increasing. In the last 10 years, EU food and drink exports have doubled, reaching over EUR 90 billion and contributing to a positive balance of almost EUR 30 billion by which the demand of PP is witnessing a high growth.
• Germany is Europe's largest beverage industry, which represents the fourth largest industry sector in Germany and due to the high demand of beverages product such as energy drinks, mocktails, etc, the demand of PP is growing faster.

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