Ring Pull Caps Market to Represent a Significant Expansion of 5.1% CAGR by 2028

VALLEY COTTAGE, New York, September 17, 2018 /PRNewswire/ --

Increasing demand for convenience packaging and bottle opening solutions is projected to be a key factor pushing the global demand for ring pull caps. Ring pull caps offer convenience in opening bottles, cans, and tins by simply puling the ring on the top of the products. This also eliminates the requirement of an opener, traditionally required for opening a crown cap. Moreover, ability of ring pull caps to hold high pressure of carbonated and non-carbonated drinks, would further drive the global ring pull caps market. Expanding at a steady CAGR of 5.1% during the assessment period of 2018-2028, the global ring pull caps is expected to reach a market valuation of US$ 480.8 Mn by 2028, as per a recent market study by Future Market Insights.

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Aluminum to Remain the Most Preferred Material; Increasing Demand for Tin-Free Ring Pull Caps to Propel the Market 

Ring pull caps made of aluminum are likely to hold a major market share, whereas steel ring pull caps is projected to witness higher growth over the forecast period, primarily driven by the demand of chrome plated steel caps or tin-free caps. The lower price and barrier properties of the aluminum caps are some key factors driving the adoption of aluminum ring pull caps. In terms of end-use, beer industry is expected to witness highest adoption of ring pull caps, creating highest incremental opportunity, followed by soft-drinks. Manufacturers of functional beverages, fruit juices, ciders, spirits and wines are gradually favoring ring pull caps for the glass bottles owing to rising demand for convenience.

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Steel is generally coated with tin for protection from corrosion. Chrome oxide coating is gradually replacing tin coating on the steel, making the tin-free steel highly suitable for adhesion of coating, inks, and paints, further increasing the printability of the ring pull caps. With comparatively lower manufacturing cost, increasing demand for tin-free ring pull caps is likely to push the global market for ring pull caps.