Market Trends of Plastic Caps and Closures Industry
This section covers the major market trends shaping the Plastic Caps & Closures Market according to our research experts:
Polypropylene Material to Account for a Significant Share
- Plastic converters are the heart of the plastics industry. Polypropylene (PP) comes under thermoplastic, is 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 comprises a .38" LDPE core sandwiched between identical layers of .002" - .003" virgin HDPE. These polypropylene closures with foamed polyethene 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 most significant manufacturing sector regarding jobs and value-added, and the demand for plastic converters is increasing. In the last ten 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 for PP is witnessing high growth.
- Germany is Europe's largest beverage industry, representing the fourth largest industry sector in Germany. Due to the high demand for beverage products such as energy drinks, mocktails, etc., the need for PP is growing faster.
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North America to Occupy Major Share
- The food industry is one of the major contributors to the caps and closures market in the region. Consumers are becoming more health conscious, and the demand for healthy beverages is on the rise with raising personal incomes has made bottled water a more accessible convenience for individuals and is boosting factor for the growth of the caps and closures market.
- Food products stored in bottles are protected through various kinds of airtight plastic closures. Metal caps or closures are also used for the storage of food products, such as grains, typically stored in glass containers. The United States is the second-largest food market in the world, and it is expected to account for a considerably high share of the caps and closures market.
- In the United States and Canada, retail shelf packaging is growing popular, owing to the changing lifestyles of the people. This faster pace of lifestyle is expected to further fuel the growth of sales through retail channels.
- This trend is further bolstered by the growing millennial population in the workforce. Millennial population in the United States is found to work across flexible work hours, which further bolsters the demand for on-the-go foods, which is expected to drive the market for caps and closure (owing to increase in packaged food).
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