Asia Pacific Metal Caps And Closures Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.53 Billion |
| Market Size (2029) | USD 9.5 Billion |
| CAGR (2024 - 2029) | 4.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Metal Caps And Closures Market Analysis
The Asia Pacific Metal Caps And Closures Market size is estimated at USD 7.53 billion in 2024, and is expected to reach USD 9.5 billion by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).
- With densely populated countries, such as India and China, driving demand, the Asia-Pacific market is poised for growth in the coming years. Rising populations and disposable incomes are steering consumers toward packaged and premium products, fueling a heightened demand for metal caps and closures across diverse industries in the region.
- Metal closures, by extending shelf-life and preserving taste, flavor, and texture, are pivotal in the packaging industry. Their leak-proof and contamination-resistant properties not only enhance visual appeal but also aid in brand differentiation and elevate consumer convenience. These versatile closures are widely utilized across sectors, including food, beverages, and pharmaceuticals.
- With a significant surge in demand for packaged foods and beverages, the pivotal role of caps and closures in preserving the freshness of these consumables for extended durations is poised to propel the market in these regions.
- The region's burgeoning pharmaceutical production, coupled with regulatory shifts, is increasingly favoring child-resistant, value-added, and senior-friendly closures. This trend is poised to propel the market in the coming years. Additionally, the surging adoption of child-resistant and tamper-evident metal caps and closures has garnered significant market traction. Consequently, manufacturers are pivoting toward crafting higher-quality metal caps and closures.
- The rising demand for eco-friendly products is driving the uptake of metal caps and closures. While plastic caps present a formidable challenge, the plastic caps market is increasingly under scrutiny for its environmental impact, paving the way for metal alternatives. In response, numerous companies have begun transitioning from plastic to metal caps and closures.
Asia Pacific Metal Caps And Closures Market Trends
A Considerable Portion of the Market is Anticipated to be Held by Aluminum
- Aluminum caps and closures offer superior durability and stability compared to alternative materials. Available in various sizes and styles, their demand is poised to surge, propelled by considerations like product safety, branding, and the appeal of their unique designs. Moreover, the market is set to expand further, buoyed by the rising preference for smaller, more convenient packaging options.
- Aluminum, known for its high recyclability, retains its core properties post-processing, rendering it a cost-effective and environmentally friendly alternative to manufacturing fresh aluminum. Moreover, aluminum recycling fosters a circular economy, ensuring the metal's perpetual reusability.
- As a result of increased consciousness regarding the environment's well-being caused by plastic waste, manufacturers in the region have transitioned to eco-friendly packaging alternatives like aluminum. For instance, UA Packaging has embraced sustainability and net-zero emissions by integrating aluminum into its container-making process. Moreover, aluminum's natural shine can attract consumers looking for luxurious packaging. With ALU Airless jar, the company is creating its own eco-luxe packaging line that balances sustainability and luxury.
- Furthermore, China hit a new high in aluminum production last year, with smelters ramping up output after the power shortage crisis resolution. The country's robust production and consumption metrics are bolstering the commodity. As the global leader in both aluminum consumption and production, China accounts for more than half of the world's total consumption.
India is Expected to Hold a Significant Share in the Market
- Asia-Pacific is poised for rapid growth, driven by the substantial populations of China and India. Rising disposable incomes in these nations are set to bolster the growth of the metal caps and closures market.
- Moreover, the growing consumption of alcoholic and non-alcoholic beverages in India has shown a significant rise, positively impacting the metal caps and closures market. According to a study performed by Banco do Nordeste, alcohol consumption in India was 4.86 billion liters in FY 2020. Consumption is expected to reach 6.21 billion liters in FY 2024, boosting the country’s alcoholic beverage packaging segment.
- Metal closures see the highest adoption rates in the beverage sector, primarily due to their recyclability, durability, and superior leak-proof and contamination-resistant qualities. Notably, within the beverage landscape, beer emerges as the frontrunner for embracing metal closures.
- Furthermore, the growth of the country's metal caps and closures market is set to be boosted by an increase in aluminum production. For instance, in April 2022, Hindalco Industries Ltd announced its plan to invest up to USD 7.2 billion in expanding its aluminum business over the next five years due to global supply shortages and strong demand, resulting in unprecedented prices. The Mumbai-based company is expanding its primary aluminum capacity in India after holding it at 1.3 million tonnes for several years to anticipate that prices will remain high because of supply constraints and strong demand. India's aluminum consumption is predicted to reach approximately 8 million tonnes by March 2032.
Asia Pacific Metal Caps And Closures Industry Overview
The Asia-Pacific metal caps and closures market is highly competitive due to the presence of several domestic and global manufacturers. Some of the key players in this market are Crown Holdings Inc., UA Packaging, ACTEGA, Nippon Closures Co. Ltd, and Alupac India. Intense competition prevails in the market regarding product differentiation, portfolio, and pricing. The rising demand for value-added closures and tamper resistance properties will augment the usage of metal caps and closures in various segments.
- April 2023: UA Packaging launched a new eco-friendly tool that can be adjusted to fit jars or bottles of different sizes. The DOUBLE PCS Aluminum caps are designed to fix the issues with single-piece caps, such as being too lightweight, easily deformed, and having visible threads. The thin metal plate, rough cross-section, and sharp edges of the aluminum shell can cause discomfort when in contact with skin, but UA has tackled this problem with advanced curling die technology.
Asia Pacific Metal Caps And Closures Market Leaders
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UA Packaging
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Alupac India
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Nippon Closures Co., Ltd.
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ACTEGA (A member of ALTANA)
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Crown Holdings, Inc.
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Metal Caps And Closures Market News
- April 2024: Vedanta Aluminium, India's leading aluminum producer, marked a significant stride in its expansion endeavors, aiming to secure a spot among the top 3 global players. The company, with a current capacity of 3 million tonnes per annum (MTPA), unveiled plans to bolster its vertical integration, a move underscored by the successful launch of a new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, Odisha. This expansion elevates the refinery's capacity from 2 MTPA to 3.5 MTPA. Notably, this 1.5 MTPA increment is just a segment of Vedanta's broader strategy to elevate the Lanjigarh refinery's nameplate capacity from 2 MTPA to 5 MTPA, aligning with its escalating aluminum production demands from a range of industries, including packaging and construction.
- July 2023: Crown Holdings Inc. extended its sustainability program, Twentyby30, to promote responsible supply chains. The company has expanded its Aluminum Stewardship Initiative (ASI) certifications in Asia-Pacific. Crown's beverage packaging plants, Nong Khae and Crown TCP in Thailand, were recently granted ASI Performance Standard certification. This brings the total number of Crown facilities awarded the certification to 12.
Asia Pacific Metal Caps And Closures Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitutes
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Increased Demand for Innovative Solutions from Various End Users
- 5.1.2 Superior Properties Compared to Other Closure Materials
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5.2 Market Restraints
- 5.2.1 High Adoption Rate of Other Types of Closure Materials
6. MARKET SEGMENTATION
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6.1 By Material Type
- 6.1.1 Aluminum
- 6.1.2 Steel
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6.2 By Closures Type
- 6.2.1 Crown Caps
- 6.2.2 Screw Caps
- 6.2.3 Twist Metal Caps
- 6.2.4 Other Closure Types
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6.3 By End-user Industry
- 6.3.1 Food
- 6.3.2 Beverages
- 6.3.2.1 Alcoholic
- 6.3.2.2 Non-alcoholic
- 6.3.3 Pharmaceuticals
- 6.3.4 Personal Care
- 6.3.5 Other End-user Industries
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6.4 By Country
- 6.4.1 China
- 6.4.2 Japan
- 6.4.3 India
- 6.4.4 Australia and New Zealand
- 6.4.5 Rest of Asia-Pacific
7. Competitive Landscape
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7.1 Company Profiles*
- 7.1.1 Crown Holdings Inc.
- 7.1.2 O.Berk Company
- 7.1.3 Guala Closures SpA
- 7.1.4 Berlin Packaging
- 7.1.5 Silgan White Cap LLC
- 7.1.6 Sonoco Products Company
- 7.1.7 Alupac India
- 7.1.8 Nippon Closures Co. Ltd
- 7.1.9 ACTEGA (A member of ALTANA)
- 7.1.10 UA Packaging
- 7.2 INVESTMENT ANALYSIS
- 7.3 FUTURE OF THE MARKET
Asia Pacific Metal Caps And Closures Industry Segmentation
Caps and closures made from metals like aluminum and steel are crucial in sealing containers like bottles, jars, and tubes. These protective components ensure the products' safety, integrity, and longevity by providing a strong barrier that prevents contamination, spoilage, and leakage.
The Asia-Pacific metal caps and closures market is segmented by material type (aluminum and steel), closure type (crown caps, screw caps, twist metal caps, and other closure types), end-user industry (food, beverages (alcoholic and non-alcoholic), pharmaceuticals, personal care, and other end-user industries) and country (China, India, Japan, Australia and New Zealand, and Rest of Asia Pacific). The report offers market forecasts and size in value (USD) for all the above segments.
| By Material Type | Aluminum | |
| Steel | ||
| By Closures Type | Crown Caps | |
| Screw Caps | ||
| Twist Metal Caps | ||
| Other Closure Types | ||
| By End-user Industry | Food | |
| Beverages | Alcoholic | |
| Non-alcoholic | ||
| Pharmaceuticals | ||
| Personal Care | ||
| Other End-user Industries | ||
| By Country | China | |
| Japan | ||
| India | ||
| Australia and New Zealand | ||
| Rest of Asia-Pacific |
Asia Pacific Metal Caps And Closures Market Research FAQs
How big is the Asia Pacific Metal Caps And Closures Market?
The Asia Pacific Metal Caps And Closures Market size is expected to reach USD 7.53 billion in 2024 and grow at a CAGR of 4.78% to reach USD 9.5 billion by 2029.
What is the current Asia Pacific Metal Caps And Closures Market size?
In 2024, the Asia Pacific Metal Caps And Closures Market size is expected to reach USD 7.53 billion.
Who are the key players in Asia Pacific Metal Caps And Closures Market?
UA Packaging, Alupac India, Nippon Closures Co., Ltd., ACTEGA (A member of ALTANA) and Crown Holdings, Inc. are the major companies operating in the Asia Pacific Metal Caps And Closures Market.
What years does this Asia Pacific Metal Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Metal Caps And Closures Market size was estimated at USD 7.17 billion. The report covers the Asia Pacific Metal Caps And Closures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Metal Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Metal Caps And Closures Industry Report
Statistics for the 2024 Asia Pacific Metal Caps And Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Metal Caps And Closures analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
