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United States Plastic Caps and Closures Market Briefing, Technology Advancement and Future Scope till 2026

The United States Plastic Caps and Closures Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The United States Plastic Caps and Closures market report provides information regarding market size, share, trends, growth, cost structure, United States Plastic Caps and Closures market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.

The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the United States Plastic Caps and Closures market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the United States Plastic Caps and Closures industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.

The United States Caps and Closures Market is expected to register a CAGR of 4.4% during the forecast period (2021 – 2026).

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global United States Plastic Caps and Closures Market: O Berk Company LLC, MJS Packaging, Tetra Pak International SA, Berry Global Inc., Guala Closures Group, TriMas Corporation, AptarGroup Inc. (AptarGroup), Closure Systems International Inc., Amcor PLC, Silgan Holdings Inc., Albea SA, and others.

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Key Market Trends

Food Industry is Expected to Witness Significant Growth

– The United States is the second-largest food market across the world. Moreover, it is expected to account for a considerably high share of the caps and closures market catering to the food industry end-user segment. The volume of plastic allocated to food packaging amounts to approximately 40% of plastics.

– The convenience and widespread use of plastic in food packaging is owed to its low cost, ease of processability, formability, chemical resistance, lightweight, and a variety of physical properties.

– In the United States, retail shelf packaging is growing popular, owing to the changing lifestyles of the people. This fast pace of lifestyle is expected to further fuel the growth of sales of plastic caps and closures in the region through retail channels.

– This trend is further bolstered by the growing millennial population in the workforce. The millennial population in the United States works across flexible work hours, which further bolsters the demand for on-the-go foods. Thus, this is expected to drive the market for caps and closures (owing to the increase in packaged food).

Polyethylene Terephthalate (PET) Material is Expected to Hold a Significant Share

– Polyethylene terephthalate (also known as PET or PETE) is the most commonly used polyester in food packaging. PET is a non-toxic, lightweight, safe, and flexible material, which can be recycled and reused efficiently. It can also be processed up to three to four times without affecting its chemical properties.

– Major factors driving the market growth for PET in the United States include increasing consumption of textiles and fabrics, increasing recycling and collection rate of PET, and rising demand for sustainable and recyclable products in the region.

– Plastic bottle caps are the widest application area for PET and are driven by increased demand for carbonated soft drinks and water bottles. However, plastic bottles and bottle caps were ranked as the third and fourth most collected plastic trash items in the Ocean Conservancy’s annual beach cleanups, held in September 2019, in more than 100 countries, including the United States. Thus, this ranking may create a hindrance in the market growth.

– Meanwhile, stringent environmental regulations controlling the increasing use of PET and rising demand for environmentally friendly alternatives, such as High-Density Polyethylene (HDPE), are expected to negatively impact the growth of the market.

Latest Market Development:

– February 2020 – Amcor PLC announced the launch of its first PET container made from 100% post-consumer recycled content (PCR) resin. The company created the new, clear bottle in two sizes, 100 cubic centimeters, and 150 cubic centimeters, for Ritual, a health meets technology company that produces multivitamins.

What are the market factors that are explained in the report?

– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

– Analytical Tools: The United States Plastic Caps and Closures Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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