The Screw Closures Market had a robust size in 2020 and is expected to continue registering steady revenue growth in the future. The demand and acceptance of screw closures are driven by increased desire for easy-to-open and sustainable packs, demographic changes, and rising urbanization. Screw closures are mainly used in the food and beverage sector for products such as bottled water, carbonated drinks, mayonnaise, ketchup, and alcoholic beverages. The packaging industry primarily uses screw closures to protect items and extend their shelf life.
The major factor driving growth in the screw closures market is the increased demand for packaging in the food and beverage sector. However, fluctuating raw material prices and the rise of containers without closures, such as pouches and blister packages, are limiting the growth of the screw closures market. Players in the market have opportunities to develop machinery and equipment with advanced designs and safety features. Moreover, the rising demand for child-resistant packaging presents an opportunity for manufacturers. The plastic screw closures segment holds the most significant market share, while the beverage segment dominates the market by end-use.
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Major Companies:
- Crown Holdings Inc
- BERICAP Holding GmbH
- Guala Closures S.p.A
- Closure Systems International, Inc
- Amcor Plc
- Silgan Plastic Closure Solutions
- Aptar Group
- UNITED CAPS
- Nippon Closures Co., Ltd.
- Mold-Rite Plastics, LLC
- Berk Company, LLC
- Pelliconi C. Spa.
- Weener Plastik GmbH
- Blackhawk Molding Co. Inc
Drivers:
- Growing demand for packaging in the food and beverage industry
- Increasing desire for easy-to-open and sustainable packs
- Demographic changes and rising urbanization
- Growing trend of migrating from unpacked to packed commodities
- Rise of the bottled water market and need for tamper-evident screw closures
- Development of child-resistant (CR) closures due to mandatory safety regulations
- Focus on developing lower-cost machinery and equipment
Restraints:
- Inconstancy in pricing of raw materials such as terephthalate, polypropylene (PP), polycarbonate, aluminum, and steel
- Competition from alternative packaging methods like pouches and blister packages
- Fluctuating cost of raw materials used in cap and closure manufacture
- Sustainability concerns with standard rigid packaging methods
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