IMARC Group, a leading market research company, has recently releases report titled “Asia Pacific Plastic Caps and Closure Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Asia Pacific plastic caps and closure market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Asia Pacific plastic caps and closure market?
The Asia Pacific plastic caps and closure market size reached US$ 18.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
What are plastic caps and closures?
Plastic caps and closure protect items from environmental factors, such as pollutants, dust, and evaporation. They are durable, versatile, lightweight, resistant against corrosion, etc., and can withstand high temperatures. Plastic caps and closure make handling convenient and involves less operational costs. They are crucial components in packaging and play an essential role in improving the aesthetics and functionality of the products. Consequently, plastic caps and closure find extensive applications in numerous industries, such as pharmaceuticals, household goods, food and beverage (F&B), personal care, etc., across the Asia Pacific.
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What are the emerging trends in the APAC plastic caps and closure market?
The inflating disposable incomes and busy lifestyles of individuals are propelling the demand for ready-to-drink coffee, tea, juices, and sports drinks, which is primarily driving the Asia Pacific plastic caps and closure market. Additionally, the widespread adoption of hand sanitizers is further bolstering the market growth. Besides this, the growing usage of plastic caps and closures in the packaging of acids, fuels, disinfectants, and lubricants, owing to their durability, customizability, cost-effectiveness, chemical stability, etc., is acting as another significant growth-inducing factor.
Moreover, they are gaining extensive traction to create brand recognition and product differentiation, which is positively influencing the regional market. Apart from this, the rising utilization of raw materials, including PP, HDPE, PET, LDPE, etc., is also stimulating the market growth. Furthermore, the elevating need for alcoholic and non-alcoholic beverages and extensive investments in R&D activities by leading manufacturers are expected to fuel the Asia Pacific plastic caps and closure market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Screw-On Caps
- Dispensing Caps
Breakup by Raw Material:
Breakup by Container Type:
Breakup by Technology:
- Injection Molding
- Compression Molding
- Post-Mold Tamper-Evident Band
Breakup by End Use:
- Industrial Chemicals
- Household Chemicals
Breakup by Country:
- South Korea
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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