PLASTIC CAPS AND CLOSURES MARKET ANALYSIS
Market Dynamics:
The growth of the plastic caps and closures market is driven by its advantages over caps and closures made up of other materials such as metal, rubber, and others. Plastic caps and closures are relatively more economical, versatile, light, durable, and resistant to corrosion. The demand for caps and closures is also driven by its light weight, which helps in reducing the overall cost of transportation. Demand for plastic caps and closures is expected to boost over the forecasted period, owing to several factors such as increasing convenience of packaging, increasing trend of e-commerce shopping, and rising disposable income of the consumers, which has resulted in an increase in demand for convenient packaging products and therefore, plastic caps and closures. However, growth of the market is expected to be hampered by introduction of stringent policies by governments of various countries towards the use of plastics.
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