Plastic Caps and Closures Market to Witness Huge Growth by 2023

ReportsnReports offers a latest published report on “Plastic Caps and Closures Market by Product Type (Screw-on Caps, Dispensing Caps), Technology (Injection Molding, Compression Molding, Post-mold TE Band), Raw Material (PP, HDPE, LDPE), End-use Sector (Beverages, Food), Region – Global Forecast to 2023” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 184 pages which highly exhibit on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability.

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The Plastic Caps and Closures Market size is projected to grow from USD 40.52 Billion in 2018 to USD 51.67 Billion by 2023, at a CAGR of 4.99%.

Top Companies Profiled in the Plastic Caps and Closures Market:

  • Berry Global (US)
  • Crown Holding (US)
  • AptarGroup (US)
  • Amcor (Australia)
  • Coral Products (UK)
  • Closure Systems International (US)
  • Bericap (Germany)
  • Silgan Holdings (US)
  • RPC Group (UK)
  • Berk Company (US)

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PP (polypropylene) as a raw material accounted for the largest market in 2017 for plastic caps and closures. The growth and high demand for PP as a raw material for manufacturing of plastic caps and closures can be attributed to the fact that it is economical, has a long life span, and is resistant to extreme conditions.

“Asia Pacific region is set to witness healthy growth during the forecast period”

The Asia Pacific market is projected to be the fastest-growing market during the forecast period. It is also projected to have the largest share due to increasing commercialization and increased demand for packaged goods in the region. The market in China and India is projected to be lucrative due to their rising middle-class population and rising consumer spending on packaged products.

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