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The latest trend in the plastic caps & closures industry is the growing emphasis on sustainability and recyclability. Manufacturers are increasingly focusing on developing mono-material caps and closures that are 100% recyclable, supporting circular economy initiatives. This shift is driven by the demand for eco-friendly packaging solutions that reduce environmental impact and enhance post-consumer recycling processes. For instance, in May 2024, Origin Materials and IMDvista announced a partnership to develop the world's first commercial-scale PET cap and closure manufacturing system. This collaboration aims to enhance recyclability, shelf life, and performance of packaging, supporting the transition to sustainable materials. The project seeks to address key sustainability challenges in the packaging industry.
North America held over 25% of the global market share in 2024, driven by increasing demand for packaged beverages, food products, and pharmaceuticals, along with innovations in sustainable closure technologies.
The polyethylene (PE) segment is expected to surpass USD 30 billion by 2034, driven by its versatility, durability, and wide application in industries such as food, beverages, and pharmaceuticals.
The global market size for plastic caps and closures was valued at USD 54.7 billion in 2024 and is projected to reach USD 95.6 billion by 2034, driven by a CAGR of 5.7% during the forecast period.
Key players in the market include AdvanTech Plastics, Ajanta Bottle, Berlin Packaging, Berry Global, Caps & Closures, Chemco Group, Dow, E2Global, and Easy Enterprises.