Screw Closures Market Analysis: The Polypropylene Segment accounts for more than half of the Market Value Share in 2018
According to Transparency Market Research’s latest market report titled “Screw Closures Market: Global Industry Analysis, 2013 – 2017 and Opportunity Assessment, 2018 – 2027. The screw closures market stood at US$ 27,489.5 Mn in 2018 and is forecast to register a CAGR of 5.0 % during 2018 – 2027. The screw closures market is estimated to be valued at US$ 42,469.9 Mn by the end of the forecast period.
Global Beverage Industry Market Growth
Screw closures are most prominent type of caps & closures used in the beverage industry. The hassle-free opening and closing, along with the improved security to prevent product wastage makes them ideal for use in the food & beverage industry. Hence, the growth of the screw closures market closely depends upon the development of the beverage industry. The ready-to-drink market is expected to witness an impressive growth in the overall screw closures market during the forecast period, which can increase the need of high-end screw closures. The food industry also accounts for a significant market share of the global screw closures market.
Pump Pressure Caps are Restraining the Growth of Global Screw Closures Market
Screw closures feature a tamper-evident flip top nozzle design that eliminates the drip mess and prevents cloging. Pump pressure caps & closures are also becoming popular among the personal care & cosmetics industry. These offer extra security and proper dispensing capability as compared to screw closures. 24–34 mm neck diameter pump pressure caps are replacing screw closures in packaging for face wash, shampoo, hand wash, hair oil, body care, and others. Their popularity can be a major restraint in the growth of the screw closures market.
Drivers and Restraints of the Global Screw Closures Market
High Demand for Screw Closures
The global demand for screw closures is continuously increasing due to the rise in the consumption levels of various personal care, food & beverage, and household goods. The growth of the screw closures market is primarily driven by the increased consumer spending on the convenience products. As the demand for these products grows, the demand for PET bottles and liquid cartons will also grow and will subsequently boost the growth of the global screw closures market in the region. Also, the growth in the beverage end-use industry is expected to further drive the growth of the global screw closures market. The penetration of bottled water is increasing at a good CAGR value globally due to the changing consumer habits towards more hygienic drinking habits. This has led to an increase in demand for screw closures.
Growth in Single-serve Beverages
Single-serve beverages are packaged along with hot fill process which increase the shelf life of the packaged contents are fueling the growth of the global screw closures market. Single serves and ready-to-drink coffee, which didn’t exist few years ago, comprise of more than 30% of the total coffee sold at the grocery stores are fueling the growth of the global screw closures market. Furthermore, technological developments & improvements in the hot-fill processing have become the prominent factor influencing the demand for the plastic screw closures.
Growing Aversion Towards Soda & Soft Drinks
The consumption of bottled water and ready-to-drink tea and coffee has increased significantly globally due to growing aversion towards soda. Sealing breaches could also be the limiting factor, as a screw closures not only seals the containers, but also protect the containers but also protects its contents from piracy and satisfies technical demands requested by the government and authorities. Furthermore, energy drinks, along with their labeling, packaging, and ingredients are regulated by the U.S. food and drug administration (FDA) which is a hindering factor for the screw closures market.
In the global screw closures market report, we have discussed individual strategies followed by the key players to sustain in the competition. A competition dashboard with significant key players is provided in the global screw closures market.
Key Developments in the Global Screw Closures Market
- In May 2016, it was stated that the company along with its sister companies Graham Packaging Co. and Evergreen Packaging Inc., would be combining into one consolidated global headquarters in Memphis, U.S.
- In June 2015, it unveiled its new one-piece closure ‘33-400 directional screw closures’ which featured a stay clean lid which opened wide and away from the dispensing spout.
Competitive Landscape of the Global Screw Closures Market
Key players which have been profiled in the global screw closures market report include Amcor Limited, Berry Global Inc., Aptar Group, RPC M&H Plastics Ltd, Silgan Plastic Closure Solutions, O. Berk Company, LLC, Closure Systems International, Inc., Bericap GmbH and Co KG, Global Closure Systems, Weener Plastics Group BV, Blackhawk Molding Co. Inc., CL Smith Company, Georg MENSHEN GmbH & Co. KG, Mold-Rite Plastics, LLC, Alpha Packaging, Inc., and Comar LLC.
In this report, Transparency Market Research provides a 9-year forecast for screw closures market, both by value (US$ Mn) and volume (Mn Units), between 2018 & 2027. The global screw closures market value is projected to clock a CAGR of 5.0%, during the forecast period. The study on global screw closures is geographically segmented into six key regions, wherein market analysis has been provided on the basis of diameter, material type, end use, and neck finish.
The Transparency Market Research report provides a study on the global screw closures market for the period 2018 – 2027. The key objective of screw closures market report is to assess data and offer insights, along with key market trends related to screw closures market that are gradually helping transform global businesses. The insights given in screw closures market report are presented in a manner which can be useful to take a business decision by analysing the historical and forecasted data.
The global screw closures market study begins with a executive summary on various segments, and their contribution to the current market scenario. The executive summary also briefly discusses the key findings of the study as well as the screw closures market overview. Furthermore, the role of LDPE, HDPE, and polypropylene as key materials for screw closures has also been discussed in brief. Key market dynamics of screw closures (TMR analysis of drivers and trends) have been provided in the executive summary of the global screw closures market report. A dedicated section has been provided for the detailed description of the market dynamics influencing the screw closures market. These are provided as drivers, restraints, opportunities, and trends for the screw closures market. Furthermore, to show the performance of screw closures market in each country and region, a Y-o-Y growth analysis has been provided.
Key Segments Covered in the Global Screw Closures Market
- 18 mm – 33 mm
- 36 mm – 53 mm
- 63 mm – 100 mm
- Above 100 mm
By Material Type
- Others (PS, PET etc.)
By End Use
- Cosmetics & Personal Care
By Neck Finish
- 400 (1 Thread Turn)
- 410 ( 1.5 Thread Turn)
- 415 ( 2 Thread Turn)
- 425 ( 2 Thread Turn)
- Above 430 ( More than 2 Thread Turn)
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific Excluding Japan (APEJ)
- Rest of APEJ
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
To estimate the market size of screw closures in terms of value and volume, the revenue generated by key manufacturers of screw closures, and their corresponding production capacity has been taken into consideration. As an initialization of the study, the current market size of screw closures was estimated, along with the historical growth in market size of screw closures. This formed the basis of how the screw closures market is expected to shape up in the future. The screw closures market was assessed by a three-pronged approach– by tracking the supply side, downstream industry, and the economic envelope. In addition, it should be noted that in an ever-fluctuating global economy, TMR not only conducts forecasts in terms of CAGR, but also analyses the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the screw closures market and identify the right opportunities across it.
The screw closures market has also been assessed on the basis of segment-wise Y-o-Y growth rates. This detailed level of information is important for identifying the key trends in the screw closures market. Another key feature of the global screw closures market report is the analysis of the market in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the screw closures market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report.
In the final section of the global screw closures market report, a detailed competitive dashboard has been provided to give a detailed overview of the key manufacturers of screw closures. It is intended to represent a comparative analysis based on the segment-wide revenues of the manufacturers along with their product portfolios, key strategies, and market presence. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the screw closures marketplace. A list of key participants in the screw closures market, including suppliers and distributors is provided in the screw closures market report.