Global Aluminum Caps & Closures Market is accounted for $5.36 billion in 2017 and is expected to reach $9.20 billion by 2026 growing at a CAGR of 6.2% during the forecast period. Some of the key factors influencing the market growth include growing demand for expediency packaging, concerns regarding product safety and security and product differentiation and branding. However, growth of substitutes and augment in usage of packages without closures such as pouch & blister packaging is restraining the market growth.
Aluminum caps & closures are used in various industries and their usefulness across industries includes maintaining the quality of the products, growing the shelf life of the goods and keeping the products fresh. These are some of the most important reasons which have led to the augment in their share in the packaging industry. These caps and closures are formed in diverse closure types and diameters.
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By end user, the beverage segment is anticipated to grow at the significant share during the forecast period. Aluminum closures are used on big scale in the wrapping of alcoholic beverages such as spirits bottles, vodka, and wine. These closures give the first level of security against the rising forged issues for spirits, finest olive oil, and bottled water. The growth of the parent industry ultimately drives the demand for aluminum caps & closures market.
By Geography, Asia Pacific region is anticipated to be the fastest-growing and largest market share during the forecast period, due to enlarge in commercialization and increase in demand for packaged goods in the region. The markets in China and India are proposed to be profitable owing to their increasing middle-class inhabitants and growing customer expenditure on packaged products.
Some of the key players in global aluminum caps & closures market are alameda Packaging, Amcor, ITC Packaging, EMA Pharmaceuticals, MJS Packaging, Crown Holdings, Osias Berk Company, J.G. Finneran Associates, Federfin Tech S.R.L., Torrent Closures, Closure Systems International., Shangyu Sanyou Electro-Chemical Aluminum Products, Alupac India, Silgan Holdings, Hicap Closures, Manaksia Limited, Guala Closures, Dyzdn Metal Packaging, Cap & Seal Pvt. Ltd., KGS & Co, Herti JSC and Integrated Caps.
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Product Types Covered:
– Non-Refillable Closures
– Roll-On Pilfer-Proof (ROPP) Caps
– Easy-Open Can Ends
– Other Product Types
End Users Covered:
– Home & Personal Care
– Other End Users
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This post was originally published on The Picayune Current