Caps & Closures Market Worth 68.71 Billion USD by 2021

PUNE, India, June 30, 2016 /PRNewswire/ --

The report "Caps & Closures Market by Type (Plastic Caps & Closures (Screw Caps, Dispensing Caps, Others), Metal Caps & Closures (Screw & Lug, Can Ends, Crown Caps, Others), Other Caps & Closures (Corks, Others)), Raw Material, End-Use Industry - Global Forecast to 2021" published by MarketsandMarkets, the market size is estimated to grow from USD 49.78 Billion in 2015 to USD 68.71 Billion by 2021, at a CAGR of 5.62%.

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Browse 198 market data Tables and 51 Figures spread through 199 Pages and in-depth TOC on "Caps & Closures Market"

http://www.marketsandmarkets.com/Market-Reports/caps-closures-market-1314.html 

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Factors such as increasing demand in Asia-Pacific, growing demand from the end-use industries such as food, beverage, and healthcare, and rising concerns toward product quality and safety are some of the drivers for the growth of the Caps & Closures Market.

End-use industries such as beverage and healthcare to gain maximum traction during the forecast period 

The beverages segment dominated the market in 2015 and is projected to be the second-fastest-growing end-user industry in the next five years, as a result of the rising consumer demand for beverage products such as bottled water and beer as well as growing demand for quality and safe products. Furthermore, the healthcare segment is projected to be the fastest-growing end-use industry due to the rising consumption of pharmaceutical and medical products.

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Plastics as a raw material to play a key role in the Caps & Closures Market 

The report defines and segments the Caps & Closures Market on the basis of raw material into plastics, metal, and others. The plastics segment is projected to contribute the largest market share as it is light in weight and cost effective, whereas metal will have the next largest market share from 2016 to 2021. The plastics segment is further divided into its sub segments such as polypropylene, polyethylene, polyethylene terephthalate, polyvinyl chloride, and others. Out of these, polypropylene is projected to be the fastest-growing sub segment as it does not crack under stress and has good resistance to almost all types of chemicals, including strong acids, alkalis, and most organic materials.