Description
Aluminium Caps and Closures Market size was valued at USD 6.23 billion in 2021 and is poised to grow at significant CAGR nearly 5.8% over 2022-2028. Due to 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 huge popular in the packaging industries. Moreover, technological advancement for new innovations and techniques for development will boosts the growth of the aluminium caps & closures market. However, use of alternative methods for packing and alternative materials such as plastics etc., and increase in usage of packages without closures such as pouch & blister packaging are the major factors that hinder the growth of the market. Global aluminium caps & closures market is surging owing to frequent acquisitions and launchings by the market players.
Key Developments:
In March 28, 2019, Tapì and Thinfilm Announce Strategic Partnership to deevelop Smart Closures which will create dependable, cost-effective closure solutions.