Global screw closure market is expected to grow at a compound annual growth rate of 4.31% to reach a market worth of US$41.733 billion by 2024 from US$32.398 billion in 2018. Screw closures are essential part of packaging as these help in improving the shelf life of the product and protect from external contamination. The increasing demand for bottled water across the globe is expected to drive the market for screw closures. Further the growing beverage industry is anticipated to create growth opportunities for the screw closure manufacturers. The major end users for the screw closure market are food & beverage, cosmetics, pharmaceuticals and household among others. Plastic is expected to be the dominant raw material for production of these solutions. Developing economies like India and China are expected to witness high growth rate, while North America region is anticipated to hold a significant market share during the forecast period.
DRIVERS
Growing demand for bottled water.
Increasing beverage industry.
RESTRAINTS
Government rules and regulations regarding use of plastic.
The major players profiled in the screw closure market include Berry Global Inc, Crown Holdings Inc, O. Berk Company LLC, RPC Bramlage Division, Comar LLC, CL Smith Company, Silgan Plastics LLC, Weener Plastics Group B.V, Berlin Packaging LLC, Mold-Rite Plastics LLC, Blackhawk Molding Co. Inc, AptarGroup Inc, and Maynard & Harris Plastics.
Segmentation
The screw closure market has been analyzed through the following segments:
By Material
Polyethylene
Polypropylene
Thermosets
Metals
Others
By Technology
Compression Molding
Injection Molding
By End-User
Food & Beverage
Pharmaceuticals
Cosmetics
Household
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
Frequently Asked Questions (FAQs)
Q1. What will be the screw closure market size by 2024?
A1. The global screw closure market is expected to reach a total market size of US$41.733 billion by 2024.
Q2. What are the growth prospects for screw closure market?
A2. The screw closure market is expected to grow at a CAGR of 4.31% during the forecast period.
Q3. What is the size of global screw closure market?
A3. Screw Closure market was valued at US$32.398 billion in 2018.
Q4. What factors are anticipated to drive the screw closure market growth?
A4. The increasing demand for bottled water across the globe is expected to drive the market for screw closures.
Q5. Which region holds the largest market share in the screw closure market?
A5. North American region is anticipated to hold a significant share in the screw closure market during the forecast period.
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