Market Value of Aluminum Bottle Cap
The Aluminum Bottle Caps and Closures are highly valued in the market. However, it’s aluminum’s ability to form any shape and its protective qualities that has made it one of the most versatile packaging materials globally.
The global caps & closures market is growing at CAGR of 4.9%-5.9% rate annually and is projected to reach US$68.71 billion size by 2021. Aluminium caps and closures market, when studied in the context of this growth, can be seen slowing down moderately because of the rising demand of plastic caps & closures, corks, and a faster shift to PET-disposable bottles. Although aluminium still remains the most viable packaging material in terms of lightness, formability, effective barrier quality, and recyclability (read- environmental friendliness), rising competition from a number of new-age packaging materials is making it somewhat unattractive to the bottle makers.
Nevertheless, there are silver linings- China’s beer packaging sector, for example, is shifting to aluminium cans. With one of the world’s biggest aluminium consumer markets supporting aluminium packaging, the sector is expected to see renewed growth in the years to come.
- In addition, the increasing demand for packaged products is anticipated to augment the steady momentum of the aluminum caps and closures in the market globally.
- Further, the usage of aluminum closure in the wine industry is becoming predominant as the aluminum screw cap provides better insulation to the wine from oxygen, and aluminum caps have cost benefits as compared to cork.
- Many sectors such as food and pharmacy industries are also expected to increase the adoption of aluminum packaging owing to its lightweight, strong, durable and significant barrier property.
The global caps & closures market is growing at CAGR of 4.9%-5.9% rate annually and is projected to reach US$68.71 billion size by 2021. Aluminium caps and closures market, when studied in the context of this growth, can be seen slowing down moderately because of the rising demand of plastic caps & closures, corks, and a faster shift to PET-disposable bottles. Although aluminium still remains the most viable packaging material in terms of lightness, formability, effective barrier quality, and recyclability (read- environmental friendliness), rising competition from a number of new-age packaging materials is making it somewhat unattractive to the bottle makers.
Nevertheless, there are silver linings- China’s beer packaging sector, for example, is shifting to aluminium cans. With one of the world’s biggest aluminium consumer markets supporting aluminium packaging, the sector is expected to see renewed growth in the years to come.
Comments
Post a Comment