Caps & Closures Market Expected to Reach $56.6 Billion by 2018 According to the market research report “Caps & Closures Market by Raw Material (Plastic, Metal & Others), Applications (Food, Beverage, Personal Care & Home Care, Pharma & Industrial), Types (Plastic: Screw, Dispensing, Metal: Screw & Lug, Can Ends, Others) Global Trends & Forecast to 2018”, the caps & closures market is estimated to grow from $42.7 billion in 2012 to $56.6 billion by 2018 with a CAGR of 4.8% through 2018. Asia-Pacific led the global market followed by North America and Europe in terms of revenue in the year 2012. Browse 177 market data tables and 43 figures spread through 402 pages and in-depth TOC on “Caps & Closures Market - Global Trends & Forecast to 2018" http://www.marketsandmarkets.com/Market-Reports/caps-closures-market-1314.html Early buyers will receive 10% customization on this reports.
Caps & closures is a dynamic sector in the packaging industry with various stake holders such as raw material suppliers, processors, packaging manufacturers, and end-user industries such as manufacturers of food, beverage, personal care products, and pharmaceuticals. As opportunities to grow in these end-use markets are immense, players are competing to launch innovative products and diversifying their product portfolio. The end-use industries and their caps & closures are interdependent markets. Shift in end-use industry in terms of new product developments, new packaging types or industry growth will directly affect the caps & closures market. Rise in the consumption of packaged products offers a strong customer base for the caps & closures market. Packaging is essential to preserve the quality of the product and it also prevents it from chemical reactions endangering the consumer’s health. Hence, an efficient and suitable packaging is imperative for every product driving up demand for closures. Plastic: dominant, exhibiting strong growth The important materials used in caps & closures market are plastics (polyethylene, polypropylene), metal (aluminum, tin), paper, rubber, and cork. These raw materials are converted using various molds to manufacture different types of closures to be used in end-use applications. Consumer preferences, product characteristics, and material compatibility are essential in determining the type of material to be used. Plastic is the dominant raw material used due to its characteristics and various cost benefits offered. The adoption of plastic closures has been high and is highly penetrated in the important end-use applications. Asia-Pacific: Significant market share holder and driver Asia-Pacific has the highest market share and is estimated to grow with the fastest CAGR during the period under review. Europe is growing at a modest rate, and is driven mainly by the East European countries. ROW is also expected to experience growth in the caps & closures market in the future. The ROW is projected to exhibit rapid growth during the period under review. The four most potential nations for caps & closures market are India, China, Russia, and Brazil which are poised to exhibit the fastest growing trend Beverage: Biggest market by applications; pharmaceutical closures exhibit the fastest growth In the caps & closures market, pharmaceutical end-use is the fastest growing market during the forecasted period. Due to the increased awareness for public health, increasing product