The global sales of buttress closures are estimated to be worth USD 1,578.8 million in 2024 and anticipated to reach a value of USD 2,227 million by 2034. Sales are projected to rise at a CAGR of 3.5% over the forecast period between 2024 and 2034. The revenue generated by Buttress Closures in 2023 was USD 1,529.8 million. The industry is anticipated to exhibit a Y-o-Y growth of 3.3% in 2024.
Sliding buttress closures are anticipated to reach a market valuation of USD 374.2 million in 2024 and are projected to reach USD 559.2 million by the end of 2034. Sliding buttress closures utilize a sliding mechanism to offer a secure and reliable seal with minimum effort.
This sliding mechanism reduces the risk of cross-threading thus ensuring a consistent tight seal and preventing leakages making it ideal for industries such as chemicals, pharmaceuticals, and others.
Global Buttress Closures Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 1,529.8 million |
| Estimated Size, 2024 | USD 1,578.8 million |
| Projected Size, 2034 | USD 2,227 million |
| Value-based CAGR (2024 to 2034) | 3.5% |
Metal buttress closures are expected to gain an incremental opportunity worth USD 203.5 million and an incremental expansion of 1.4x times the total market value. Metals such as aluminum and stainless steel due to their excellent strength and durability make them suitable for heavy-duty applications where containers and their closures are exposed to extreme conditions.
Metal closures offer a highly secure seal that is resistant to puncture and tampering ensuring content safety mostly applicable in aerospace and automotive industries.
The chemical end-uses are expected to grow at a CAGR of 2.9% during the forecast period and are predicted to reach a valuation of USD 374.2 million in 2024. The chemical industry requires packaging solutions to comply with strict regulations for a secure and reliable seal to drive the market for buttress closures.
Buttress closures particularly made from high-density materials like polyethylene (HDPE) and stainless steel offer excellent chemical resistance and are compatible with a wide range of chemicals like acids, solvents, and bases making them a go-to solution for chemical manufacturers.
The buttress closures market in North America is predicted to reach USD 390 million in 2024 and is projected to gain an incremental expansion of 1.2x times the total market value. The region's growth can be attributed to the presence of key industries like pharmaceuticals, chemicals, food and beverages in the USA and Canada to propel the demand for secure and reliable sealing solutions including buttress closures.
The growing emphasis on safety and strict regulations push manufacturers towards the adoption of buttress closures that offer excellent durability and are leak-proof to further fuel the market growth.
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The below table presents the expected CAGR for the global buttress closures market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 3.3%, followed by a slight decrease in growth rate of 3.1% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 3.3% (2023 to 2033) |
| H2 | 3.1% (2023 to 2033) |
| H1 | 3.6% (2024 to 2034) |
| H2 | 3.8% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 3.6% in the first half and slightly increase to 3.8% in the second half. In the first half (H1) the market witnessed an increase of 30 BPS while in the second half (H2), the market witnessed an increase of 70 BPS.
Increasing Focus on Reusability in Plastics to Drive the Market
The growing trend for sustainable packaging amid environmental concerns consumers are continuously seeking eco-friendly products that deliver several benefits such as reduced plastic waste and lower carbon footprints. Buttress closures offer properties such as durability, strength, and are robust in nature aligning with these sustainable goals.
Compared to traditional single-use closures buttress closures can sustain multiple uses without degradation in performance making it ideal for refill and reused products. Thus manufacturers are poised to shift towards reusability in products that not only benefit economically but also offer environmental advantages. The usage of buttress closures for refilling packaging systems reduces packaging wastage thus lowering the overall production costs.
The robustness of buttress closures ensures a maintained sealing integrity and functionality for products to boost demand from the various end-use industries such as beverages, foods and others. Knowing the sustainability factors of buttress closures contributing to reducing single-use plastic packaging and its compliance with regulatory requirements to further fuel the adoption of buttress closures.
Rise in Consumption of Carbonated & Non-Carbonated Drinks Triggering Market Sales
Consumers are increasingly opting for on-the-go consumption escalating the demand for sealed beverage containers. This rise in consumption of these beverages is experienced due to changing demographics and consumer preferences for healthy drinks.
For instance, The Coca-Cola Company witnessed strong growth in consumer demand as their organic revenue (Non-GAAP) grew by 12% for the full year in 2023 despite the rise in prices of their soft drinks. The company believes consumer demand for functionality drives demand for their solutions.
With the rise in consumption of carbonated and non-carbonated drinks requires a robust and secured sealing over bottles to ensure product safety to drive the demand for the closures including buttress closures. Buttress closures offer durability and help maintain the freshness and carbonation of carbonated drinks also ensuring leak-proof sealing for non-carbonated beverages like juices.
The tamper-evident features and reliable performance of buttress closures catering to the diverse needs of the market thus driving sales with the rise in the beverage industry.
Environmental Concerns with the Use of Plastics to Hamper Market Growth
Given the push towards the use of sustainable materials, manufacturers are still producing a certain portion of buttress closures made of plastics raising the environmental concerns. The closures made from plastics contribute to rising environmental pollution and waste which is continuously looked over by consumers, regulators, and organizations.
The advancement in biodegradable plastic materials for certain applications may not meet the durability and performance standards expected by manufacturers thus limiting the adoption of these materials. This reliance on plastic materials to gain durability and to provide high-quality buttress closures may pose challenges to come over with the stringent environmental regulations imposed by governments amid the environmental concerns.
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The global buttress closures industry recorded a CAGR of 2.4% during the historical period between 2019 and 2023. The growth of the buttress closures industry was positive as it reached a value of USD 1,529.8 million in 2023 from USD 1,360.5 million in 2019.
The buttress closures are particularly designed for securing tight sealing and enhancing product safety and shelf life. These buttress closures possess reusability factors gaining the attraction of manufacturers and are characterized by their threaded design, enhanced easy-to-use grip, and reliability emerged as effective packaging options to cater to various end-use industries including food & beverages, pharmaceuticals, and personal care.
The growing regulatory compliance and safety standards necessitate the use of high-quality closures pushing manufacturers to continuously innovate and adopt superior buttress closures for their robust design and excellent sealing capabilities as compared to traditional caps and closures driving the market. The consumer's increasing emphasis on convenience and safety standards to further fuels the demand.
The sustainability trend in buttress closures coupled with rising manufacturers focus towards reusable packaging solutions driving the demand for closures made from biodegradable and recyclable materials. The advancement in smart packaging technology such as tamper-evident and its integration enhances product safety and the additional real-time data offering to create new verticals for producers in the buttress closures market.
Tier 1 companies comprise market leaders with a market revenue of above USD 40 million capturing significant market share of 10% to 15% in global market. These market leaders are characterized by high production capacity and a wide product portfolio.
These market leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base. Prominent companies within Tier 1 include Berry Global Group, Inc., Mold-Rite Plastics™, TricorBraun, Thermo Fisher Scientific Inc., and Rieke Corp.
Tier 2 companies include mid-size players with revenue of USD 10 to USD 40 million having presence in specific regions and highly influencing the local market. These are characterized by a strong presence overseas and strong market knowledge.
These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in Tier 2 include Paramount Global, Inc., Tolco Corporation, Phoenix Closures, Inc., Tri-Sure, Aaron Packaging, Reliable Caps, LLC, and Plastic Closures Limited.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets having revenue below USD 10 million. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the industry analysis of the buttress closures market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided. The United States is anticipated to remain at the forefront in North America, with a CAGR of 2.6% through 2034. In Asia Pacific, India is projected to witness a CAGR of 4.7% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.6% |
| UK | 2.5% |
| Italy | 2.8% |
| Spain | 2.7% |
| India | 4.7% |
| China | 3.7% |
| Thailand | 3.4% |
Invest India published an article with data representing the pharmaceutical industry of India reaching a market valuation of USD 65 billion by 2024 and is projected to reach USD 130 billion by 2030.
This rise in pharmaceuticals and the continuous expansion of India’s pharmaceutical production capabilities is supported by increased domestic demand and as a global supplier of generic drugs. This large amount of drugs produced necessitates the need for secure and reliable packaging solutions poised to surge the demand for buttress closures.
Buttress closures are known for their excellent sealing and tamper-evident features that ensure the integrity and safety of these pharmaceutical products. This growth is further fueled by growing stringent regulatory standards pushing for the adoption of high-quality packaging to avoid contamination.
According to the Census Bureau of the Department of Commerce the USA retail e-commerce sales estimated for the first quarter to be USD 289.2 billion.
The rise in e-commerce in the USA is experienced by the online retailing demands for robust and reliable packaging solutions ensuring the product remains intact. Buttress closures offer excellent leak-proof and tamper-evident features crucial for maintaining product quality during transportation.
Increasing consumer demand for convenience and easy-to-use designs to propel the demand for buttress closures that are easy to open and can be reused multiple times thus aligning with the growing emphasis on sustainability and supporting circular economy in e-commerce.
The section contains information about the leading segments in the industry. By end use, the chemical industry is estimated to grow at a CAGR of 2.9% throughout 2034 reaching a market valuation of USD 374.2 million by 2024. Additionally, the North American buttress closures industry is projected to expand at 2.2% by 2034 and is expected to account for 24.7% of the total market share in 2024.
| Product | Rotating Buttress Closures |
|---|---|
| Value Share (2034) | 35.6% |
Rotating buttress closures dominate the market in terms of revenue, accounting for almost 29.1% of the market share in 2024 and are predicted to grow at a CAGR of 3.2% throughout the assessment period. Rotating buttress closures are known as the specialized subset of heavy-duty closures mostly designed for industrial applications.
Rotating buttress closures feature a unique thread design offering a strong seal that is capable of withstanding high pressure and rigorous handling. The angular thread design ensures excellent sealing even in extreme conditions that of required for the chemical and pharma industries.
The ability of rotating buttress closures to easily open and reseal is crucial for industries that require content within containers quite frequently. Versatility in materials for rotating buttress closures makes them a flexible option creating opportunities from a variety of end-use industries.
| Material | Plastics |
|---|---|
| Value Share (2034) | 37.1% |
Plastics are most utilized for buttress closures and are forecasted to account for a revenue of over USD 492.6 million by 2024 end. It is also poised to expand at a CAGR of 3.0% across the forecast period. Plastics such as polyethylene (PE) and polypropylene (PP) are the most favored materials for buttress closures in chemical industries due to their durability and resistance.
Plastic's adaptability with a range of manufacturing processes and designs allows it to easily get molded into various complex shapes with the integration of features such as child resistance and tamper-evident. Further, the plastics recyclability and development of biodegradable plastics align with consumer demand for sustainability to boost demand for the segment.
Key players operating in the buttress closures market are investing in advanced technologies and facilities and also entering into partnerships. Key buttress closures providers have also been acquiring smaller players to grow their presence to further penetrate the buttress closures market across multiple regions.
Recent Industry Developments in the Buttress Closures Market
In terms of product, the industry is divided into rotating buttress closures, sliding buttress closures, push-pull buttress closures, and twist-off buttress closures.
In terms of material, the industry is segregated into plastic, glass, metal, and ceramic.
The industry is classified by end use as food & beverages, personal care & cosmetics, pharmaceutical & healthcare, automotive, chemicals, and other industrial.
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, and the Middle East & Africa have been covered in the report.
The global buttress closures industry is projected to witness a CAGR of 3.5% between 2024 and 2034.
The global buttress closures industry stood at USD 1,529.8 million in 2023.
The global buttress closures industry is anticipated to reach USD 2,227 million by 2034 end.
North America is set to record the highest CAGR of 2.2% in the assessment period.
The key players operating in the global buttress closures industry include Berry Global Group, Inc., Mold-Rite Plastics™, TricorBraun, Thermo Fisher Scientific Inc., and Rieke Corp.
1. Executive Summary 2. Industry Introduction 2.1. Market Taxonomy 2.2. Market Definition 3. Market Trends and Success Factors 4. Market Background 4.1. Macro-economic and Industry Outlook 4.2. Market Dynamics 4.3. Value Chain Analysis 4.4. List of Key Market Participants (Manufacturers/Channel Partners) 4.5. Analysis of Key Industry Matrices 4.6. Industry Development Roadmap 5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034 5.1. Historical Market Volume Analysis 5.2. Future Market Volume Projections 6. Pricing Analysis 7. Global Market Value (USD) Analysis 2019 to 2023 and Forecast 2024 to 2034 7.1. Historical Sales Analysis 7.2. Future Market Size and Growth Projections 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product 8.1. Rotating Buttress Closures 8.2. Sliding Buttress Closures 8.3. Push-Pull Buttress Closures 8.4. Twist-off Buttress Closures 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Material 9.1. Plastic 9.2. Glass 9.3. Metal 9.4. Ceramic 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 10.1. Food & Beverages 10.2. Personal Care & Cosmetics 10.3. Pharmaceutical & Healthcare 10.4. Automotive 10.5. Chemicals 10.6. Other Industrial 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 11.1. North America 11.2. Latin America 11.3. East Asia 11.4. South Asia & Pacific 11.5. Western Europe 11.6. Eastern Europe 11.7. Middle East & Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 15. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 16. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 18. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 19. Sales Analysis 2024 & 2034 by Key Market Segments for 30 Key Countries 20. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Paramount Global, Inc. 21.2. Mold-Rite Plastics™ 21.3. Tolco Corporation 21.4. TricorBraun 21.5. Thermo Fisher Scientific Inc. 21.6. Rieke 21.7. Phoenix Closures, Inc. 21.8. Tri-Sure 21.9. Berry Global Group, Inc. 21.10. Aaron Packaging 21.11. Reliable Caps, LLC 21.12. Plastic Closures Limited
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Buttress Closures Market
