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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Aluminium Caps And Closures Market: By Product Type ), By Materials Type, By Packaging Type, By End User and Geography
Aluminium Caps And Closures Market: By Product Type ), By Materials Type, By Packaging Type, By End User and Geography
Aluminium Caps and Closures Market size was valued at US$ 6.23 billion in 2022 and is poised to grow at a significant CAGR of nearly 5.8% from 2023-2029. The increase in the demand for packing and packaging in the food & beverages and pharmaceutical industries across the globe fueling the market growth. Additionally, their exceptional properties such as stability at high pressure, rigidity, light weight and durability of the aluminium caps and closures make them hugely popular in the packaging industries. Moreover, technological advancement for new innovations and techniques for development will boost the growth of the aluminium caps & closures market. However, the use of alternative methods for packing and alternative materials such as plastics etc., and the increase in usage of packages without closures such as pouch & blister packaging are the major factors that hinder the growth of the market. The global aluminium caps & closures market is surging owing to frequent acquisitions and launchings by the market players.
Aluminium Caps And Closures Market Key Developments:
In March 28, 2019, Tap and Thinfilm Announced a Strategic Partnership to develop Smart Closures which will create dependable, cost-effective closure solutions.
Study Period
2024-2030Base Year
2023CAGR
5.8%Largest Market
Asia-PacificFastest Growing Market
Asia-Pacific
Increasing in the huge number of usages of aluminium caps and closures by food industries for packing of food in a non-contaminating & spillage proof packing and includes maintaining the quality of the food. vehicle user. Additionally, these caps are widely utilized for packaging of the bottles in the beverages industries such as alcohols, non-alcoholic and soft drinks etc. These caps have superior properties such as versatility, durability and stability have fostered innovations in terms of technologies and designs of the automobiles. Growing demand for various sectors such as light weight and high stability packaging solutions are the major driving forces of the market growth. Moreover, rising disposable income, technological advancement and rising demand will fuel the market growth during the forecast period.
Global aluminium caps & closures market report gives comprehensive outlook on aluminium caps & closures across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for larger revenue share in global aluminium caps & closures market with considerable CAGR. The growth in this region, especially in emerging economies such as India and China can be attributed to rising in the food & beverages industries and growing customer expenditure. In North America aluminium caps & closures is largely driven by the urbanizations, and skilled manpower, increase in disposable incomes. European region is expected to dominate the market growth due to ecumenically developed countries such as Germany, France and U.K.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 6.23 billion |
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Market CAGR |
5.8% |
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By Product Type |
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By Material Type |
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By Packaging |
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By End User |
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The aluminium caps and closures market size was valued at US$ 6.23 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
The aluminium caps and closures market key players are Federfin Tech S.R.L (Italy), Alcopack Group (Germany), Herti JSC (Bulgaria), Torrent Closures (Spain), Cap & Seal Pvt. Ltd (India)
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.