Global Phenolic Caps Market: An Overview

Phenolic caps are high performance, durable caps with an extremely high heat tolerance, i.e. phenolic caps start to decompose at temperatures of above 220 degree Celsius. Phenolic caps are very tough when used in their desirable temperature range. Phenolic stands for Phenol Formaldehyde Resin. Phenolic caps are mostly used for harmful acids, bases, and other reactive compounds. The key factor which is expected to contribute to increase in preference for phenolic caps is their chemically inert nature when paired with polycone liners. Therefore, when exposed to harmful and corrosive chemicals like acids and bases, phenolic caps perform much better than their counterparts. Phenolic caps are reliable and safe, which results in high preference for phenolic caps in labs, across the world. By chemical composition and design, phenolic caps are known to provide a desirable range of chemical compatibility, and has the highest temperature tolerance among all other plastic closures available in the market. The outlook for growth of the global phenolic caps market is expected to be positive during the forecast period.

Global Phenolic Caps Market: Dynamics

The global phenolic caps market is expected to grow on the backdrop of growing demand for safe packaging and sealing solutions at laboratories. Since phenolic caps have the desired properties, they are widely preferred in laboratories in educational institutions and other research facilities. Furthermore, manufacturers of phenolic caps also provide an additional option to provide a PE cone layer, which provides chemical barrier. The degree of threat to the phenolic caps market from substitutes is rather low, as these some of the best chemically inert closures that the market has to offer. Phenolic caps are extensively used in the pharmaceutical sector, which includes medical and biotechnological laboratories, among others. Phenolic caps have an edge over alternatives in the sense that they are capable of maintaining their form and features on exposure to corrosive material. Therefore, it is unlikely that the phenolic caps market will face severe competition from an alternative solutions (not considering any unpredictable future product innovation which has the potential to disrupt the phenolic caps market).

Global Phenolic Caps Market: Segmentation

The global phenolic caps market is segmented as follows -

On the basis of neck finishes, the global phenolic caps market is segmented into –

  • Unlined
  • Lined
    • Rubber
    • Poly cone
    • Foam
    • Foil
    • Others

On the basis of neck width, the global phenolic caps market is segmented into –

  • < 8 mm
  • 8 – 13 mm
  • 13 – 18 mm
  • 18 – 23 mm
  • > 23 mm

On the basis of application, the global phenolic caps market is segmented into –

  • Acids
  • Bases
  • Other corrosive compounds

Global Phenolic Caps Market: Regional Outlook

The North America phenolic caps market is expected to be in the leading position, given the heavy investment on research and development in the region. The U.S. phenolic caps market is estimated to account for more than 85% of the North America phenolic caps market in 2018. The Asia Pacific region is expected to outdo the other region in term of growth in demand for phenolic caps, during the forecast period. Countries which are expected to lead in the Asia Pacific phenolic caps market include China and the ASEAN countries. The phenolic caps market in regions like the Middle East, Latin America and Eastern Europe is anticipated to witness sluggish growth during the forecast period, owing to several macroeconomic factors. However, countries in the Africa region are expected to outpace the remaining ones in the MEA region in terms of phenolic caps market CAGR, during the next ten years.

Global Phenolic Caps Market: Key players

Some of the key players operating in the global phenolic caps market are –

  • Quality Environmental Containers, Inc.
  • Corning Inc.
  • DWK Life Sciences GmbH
  • Qorpak, Inc.
  • National Novelty Brush Company
  • Acme Vial & Glass Company, LLC.

Some of the key trends currently observed in the market includes –

  • Emphasis on production of phenolic caps with superior torque retention
  • Focus on innovation in liner material and bonding. For instance, PET film bonded with PE film, which is then bonded to aluminium foil

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

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