The metal closures market is set to experience a stable rise in the years to come, with a projected CAGR of 2.70% during the forecast. By 2034, this market is expected to reach an astounding value of USD 28.4 billion, representing a remarkable surge from its present valuation of USD 21.8 billion in 2024.
| Attributes | Details |
|---|---|
| Market Size, 2024 | USD 21.8 billion |
| Market Size, 2034 | USD 28.4 billion |
| Value CAGR (2024 to 2034) | 2.70% |
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| Attributes | Details |
|---|---|
| Product Type | Screw |
| Market share in 2024 | 61.9% |
Screw caps are easy to open and close, making them ideal for products that require frequent use, such as beverages, cosmetics, and pharmaceuticals. They are also customizable, allowing manufacturers to create unique designs that stand out on store shelves and appeal to consumers.
| Attributes | Details |
|---|---|
| Material | Aluminium |
| Market Share in 2024 | 71.4% |
Aluminum is a lightweight, corrosion-resistant, and recyclable metal, making it an ideal material for manufacturing metal closures. It can also be easily formed into different shapes and sizes, allowing for a wide range of closure designs.
| Countries | CAGR through 2024 to 2034 |
|---|---|
| United States | 1.4% |
| China | 4.3% |
| Germany | 1.0% |
| Japan | 1.5% |
| India | 5.6% |
The CAGR of the market for the forecast period in the United States is anticipated to be 1.4%. Carbonated soft drinks, alcoholic beverages, and bottled water production and consumption have all increased significantly in recent years in the United States.
Producers utilize packaging such as metal closures to preserve the taste and components of these beverages. Thus, growing beverage consumption and the development of novel beverage varieties will dramatically raise demand for package closures across the country in the coming years.
The market is expected to register a CAGR of 4.3% in China through 2034. Having enlarged food and beverages industry is anticipated to amplify the demand for metal closures in the country in the coming years.
The demand for premium products such as condiments, sauces, and beverages is expected to gain maximum market share during the forecast period. Metal closures are considered a key component for the packaging process of this item in the region.
The market is expected to progress at a CAGR of 1.0% in Germany for the forecast period. Metal closures are gaining popularity in Germany due to robust manufacturing sectors such as automotive, food and beverage, pharmaceutical, and others.
These sectors are increasingly seeking out high-quality metal closures in the country for packaging purposes. Furthermore, sustainability and eco-friendly initiatives are contributing to the metal closures market growth in the region. Metal closures tick all the boxes with reliability and offering a more eco-friendly alternative to single-use plastic.
The market is expected to progress at a CAGR of 1.5% in Japan throughout the forecast period. Japan stands out as a technologically advanced nation.
The manufacturers in Japan are continuously focusing on product innovation and automation to enhance product performance in the region. Moreover, the need for healthcare products and pharmaceuticals has seen an increase in the country due to the aging population in recent years.
The market is expected to progress at a CAGR of 5.6% in India. The demand for alcoholic beverages is seen as increasing rapidly in the country. During the year, the whole country exported around 197,868.34 MT of alcoholic goods worldwide.
According to the Ministry of Food Processing Industries, the production of alcoholic drinks has risen by 23.8%. Metal closures are typically selected for alcohol bottles since they are held for a longer period of time, and metal closures require that the goods remain consistent as the environment changes.
The global metal closures market is extremely competitive due to the large number of industry competitors. To capitalize on and enhance their revenue share, top market players use methods such as new product launches, R&D investments, facility expansions, mergers, partnerships, acquisitions, and collaborations.
Crown Holdings Inc.
Crown Holdings Inc. is a leading manufacturer of metal closures for a wide range of products, including food, beverage, and health and beauty products. With over 125 years of experience in the packaging industry, Crown Holdings has established itself as a trusted and reliable supplier of high-quality metal closures.
The company's metal closures are designed to provide optimal performance, ensuring the freshness and safety of the products they seal. Crown Holdings offers a broad range of metal closures, including twist-off caps, lug caps, and continuous thread caps, among others. These closures are manufactured using advanced technology and high-quality materials, making them durable, reliable, and easy to use.
Recent Development
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 21.8 billion |
| Projected Market Size (2034) | USD 28.4 billion |
| Anticipated Growth Rate (2024 to 2034) | 2.70% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Grade and By application |
| Key Companies Profiled | Crown Holdings Inc.; Silgan Holdings Inc.; Guala Closures Group; Amcor Limited; Berry Global Inc.; AptarGroup Inc.; Closure Systems International Inc.; Nippon Closures Co. Ltd.; Tecnocap Group; Pelliconi & C. SpA |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The CAGR of the metal closures industry during the 2024 to 2034 period in the United States is estimated to be 1.4%.
The metal closures industry is expected to grow at a CAGR of 2.70% over the period from 2024 to 2034.
The metal closures industry size is expected to be worth USD 21.8 billion in 2024.
The CAGR of the market during the 2024 to 2034 period in China is estimated to be 4.3%.
The metal closures market is estimated to get as big as USD 28.4 billion in 2034.
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Metal Closures Market
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