IMARC Group has recently released a new research study titled “Asia Pacific Plastic Caps and Closure Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
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 closures protect items from environmental factors, such as pollution, dust and air. They are durable, flexible, lightweight, corrosion resistant, etc. and can withstand high temperatures. The plastic cap and closure make the handling easier and reduce the operating costs. They are an important part of packaging and play an important role in improving the quality and performance of products. Therefore, plastic covers and closures find applications in many industries, such as medicine, furniture, food and beverage (F & B), personal care, etc., across the Asian region.
Asia Pacific Plastic Caps and Closure Market Trends and Growth Drivers:
The increase in disposable income in the lives of individuals is driving the appetite for ready-to-drink coffee, tea, juice and sports drinks, which is the main cause of the cap. rubber in the closing market. Additionally, the widespread adoption of hand sanitizers is strengthening the market growth. Also, the increasing use of plastic covers and closures in the packaging of acids, fuels, poisons and lubricants, due to their durability, structure, value, chemical stability, etc., is another factor. is important to grow. .
In addition, they gain popularity for creating brand identity and product differentiation, which positively affects the local market. Apart from this, the increase in raw materials including PP, HDPE, PET, LDPE, etc. is also driving the market growth. Also, the growing demand for alcoholic and non-alcoholic beverages and the investment in R&D activities by manufacturers is expected to increase the Asian plastic cap market. Pacific and market closures during the forecast period.
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Asia Pacific Plastic Caps and Closure Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Screw-On Caps
- Dispensing Caps
- Others
Breakup by Raw Material:
- PET
- PP
- HDPE
- LDPE
- Others
Breakup by Container Type:
- Plastic
- Glass
- Others
Breakup by Technology:
- Injection Molding
- Compression Molding
- Post-Mold Tamper-Evident Band
Breakup by End Use:
- Beverages
- Industrial Chemicals
- Food
- Cosmetics
- Household Chemicals
- Pharmaceuticals
- Others
Breakup by Country:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
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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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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