DUBLIN--(BUSINESS WIRE)--Jun 6, 2018--The "Plastic Caps and Closures Market by Product Type, Technology, Raw Material, End-use Sector, Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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%.

The plastic caps and closures market is driven by factors such as rising demand from end-use industries such as pharmaceuticals and beverages as well as rising concerns about the quality and safety of the product. The plastic caps and closures market is threatened by the growing usage of packs without closures such as pouch and blister packaging. Other substitutes such as metal caps & closures restrain the growth of the plastic caps and closures market.

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.

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.

Companies Mentioned

Additional Companies Alupac India Amcor Aptargroup Bericap Berk Company, LLC Berry Global Cap & Seal Pvt. Ltd Caprite Australia Pty. Ltd Caps & Closures Pty Ltd Closure Systems International Coral Products Crown Holdings Hicap Closures MJS Packaging Pano Cap Limited Phoenix Closures Plastic Closures Limited RPC Group Silgan Holdings United Caps

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Plastic Caps and Closures Market, By Product Type

7 Plastic Caps and Closures Market, By Container Type

8 Plastic Caps and Closures Market, By Technology

9 Plastic Caps and Closures Market, By Raw Material

10 Plastic Caps and Closures Market, By End-Use Sector

11 Plastic Caps and Closures Market, By Region

12 Competitive Landscape

13 Company Profiles

14 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/hlbqnl/global_plastic?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180606005633/en/

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Related Topics:Beverage Packaging,Plastic Packaging

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS PACKAGING

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 06/06/2018 07:42 AM/DISC: 06/06/2018 07:42 AM

http://www.businesswire.com/news/home/20180606005633/en