Screw cap which is also known as closure is a cap that screws onto threads on the top of a container like jar, bottle or tubes. They are designed such a way so that they can be easily opened by the consumers. They are usually made up of aluminum or metal and are widely used in industries like beverages, healthcare, food, cosmetics.
Global Screw Caps Market is expected to rise from its initial estimated value of USD 1308.37 million in 2018 to an estimated value of USD 1870.62 million by 2026, registering a CAGR of 4.57% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising demand from end-user industries.
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Key Market Competitors:
- Closure Systems International
- Global Closure Systems
- AptarGroup, Inc
- Guala Closures S.p.A
- Silgan Plastics
- Crown Equipment Corporation
- Zijiang Holding
- Berry Global Inc
- Tecnocap S.p.A.
- Federal Mfg. Co.
- E-PAK Machinery, Inc.
- Karmelle Liquid Filling & Capping Solutions Limited
- S. Plastic Corp.
- Tetra Pak International S.A.
- Krones AG
Key Developments in the Market:
- In February 2019, Micronic announce the launch of their new Micronic Screw Cap Recapper CS100 for researchers which make sure that the screw cap is tightened securely and uniformly. They precise the torque value and ensures that the screw caps are tightened properly and eliminates the risk of overturning of the cap. It also enables the researcher to properly seal the sample tubes in any circumstances.
- In September 2017, Coravin announce the launch of the new accessory Coravin Screw Cap that will be used to keep screw cap wines fresh for up to three months once the original seal has been removed. The main aim is to help the people to enjoy any wine, in any quantity at any time. These caps are available in standard and large sizes.
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- Wine and Spirits
- North America
- South America
- Middle East & Africa
Global screw caps market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of screw caps market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.