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Aluminum Caps & Closures Market by Product Type, End Use Sector And Region - Global Forecast to 2023

Aluminum Caps & Closures Market: Global Forecast until 2023

  • May 2018
  • 147 pages
  • ID: 5398033
In this report:
However, the economic growth in China is estimated to decline marginally to ##.##% by 2017 from ##.##% in 2016, according to the International Monetary Fund.
According to the Packaging Machinery Manufacturers Institute (PMMI), the import of packaging machinery in Mexico increased by at least ##% in 2013 as compared to 2012, generating greater demand from industries such as personal care, pharmaceuticals, and food & beverage, further driving the growth of the packaging industry.

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Rise in demand in the beverage market to drive the aluminum caps & closures market

The aluminum caps & closures market size is forecasted to grow from ~$5.6B in 2018 to ~$6.8B by 2023, at a compound annual growth rate (CAGR) of ~4.1 percent. The aluminum caps & closures market is influenced by Elements such as increase in demand from end-use sectors including pharmaceutical, food, and beverage as well as rise in concern about the quality and safety of the product. Nevertheless, the growth in usage of packages without closures including pouch & blister packaging threatens the increase of the aluminum caps & closures market. Furthermore, other substitutes including plastic caps & closures restrain the rise of the aluminum caps & closures market

Beverage segment held the biggest share of the aluminum caps & closures market in 2017

The beverage segment recorded for the biggest market for aluminum caps & closures market in 2017.Aluminum closures find big application in the beverage sector, especially in alcoholic beverages.

The top reason behind the extensive demand from the beverage market is the anti-contamination element that plays a crucial role in maintaining the shelf life of the packaged product. Additionally to this, the caps & closures manufactured with aluminum are user-friendly and cost-effective, which further fuel the increase of this market.

Asia Pacific area is set to witness healthy rise during the estimate period

The Asia Pacific area is forecasted to be the quickest developing market during the outlook period.It is also expected to hold the biggest market share due to growth in commercialization and increase in demand for packaged goods in the territory.

The industries in China (CN) and India (IN) are estimated to be lucrative due to their growing middle-class population and growing consumer spending on packaged products.

Breakdown of Primaries

Primary Q&A were managed with a number of industry experts in order to gather info associated to various aspects of the aluminum caps & closures market.Measures reached after analyzing secondary sources were validated through these interviews.

Primary sources included professionals including packaging manufacturers, distributors, consultants, and academic professionals. The classification of primaries interviews is like:

• By Company category: Tier 1 - 30.0 percent, Tier 2 - 35.0 percent, and Tier 3 - 35.0 percent

• By Description: Director - 61.0 percent and Manager - 39.0 percent

By area: North america (NA) - 15.0 percent, Europe - 21.0 percent, Asia Pacific - 51.0 percent, South America -5.0 percent, and the Middle East & Africa - 8.0 percent

Note: The 1/3 of the companies, the tiers of the corporations is defined on the basis of their total revenues, as of 2013.

Tier n1: Revenue > $1.0B; Tier 2: $1.0B > Revenue > $500.0M; Tier 3: Revenue < $500.0M

Segment Research

The aluminum caps & closures market is broken down on the basis of product type, end-use sector, and area.The analysis includes exhaustive information concerning the main factors influencing the increase of the aluminum caps & closures market, including drivers, industry restraints, opportunities, and possibilities.

An in-depth study of the top industry actors has been carried out to provide business insights into their sector overview, products & services, and recent evolutions combined with this industry.

The market research will facilitate the market top players/new sector entrants in this sector in these ways:

• This document breaks down the aluminum caps & closures market comprehensively and offers the best approximations of the revenue data for the global market and the sub-segments across the distinct verticals and localities.

• The report benefits partners to comprehend the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

• this business report will facilitate partners to better find out their players and obtain additional insights into their rank in the business sector. The competitive outlook section includes the competitor ecosystem, new industry product developments, strategic agreements, alliances, joint ventures (JV), mergers, and acquisitions.

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