Push Pull Closures Market Analysis: The Polypropylene Segment Accounted for More than 60% of the Market Value Share in 2018
According to Transparency Market Research’s latest market report titled “Push Pull Closures Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2027. The push pull closures market stood at US$ 2,295.2 Mn in 2018 and is forecast to register a CAGR of 4.8 % during 2018 – 2027. The push pull closures market is estimated to be valued at US$ 3,507.4 Mn by the end of the forecast period.
In terms of material type, the polypropylene segment is expected to be most attractive segment in the push pull closures market across the globe. Polypropylene material provides strong barrier properties and its resistance to chemicals makes it a prominent material for push pull closures. As compared to polyethylene, polypropylene provides more moisture resistance. By material type of push pull closures, the polyethylene segment accounts for more than 30% of the market value share in 2018. The demand for push pull closures is primarily driven by PET bottles, HDPE bottles, and metal bottles. Increase in consumer orientation towards hygiene is expected to boost the growth of the global push pull closures market. The rise in the sales of sports bottles will create further growth opportunities for the global push pull closures market.
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Drivers & Restraints of the Global Push Pull Closures Market
High Demand for Push Pull Closures
The rise in the consumption levels of various end-use industries such as food & beverage, pharmaceuticals, & household goods is expected to increase the demand for push pull closures. Increase in consumer spending on convenience products is expected to boost the global push pull closures market. The sports bottles market is increasing at a good CAGR value globally, due to the changing consumer habits. Barrier properties of sports bottles ensure hygiene and are preferred by consumers. The increase in demand for smaller bottles due their compactness drives the push pull closures market. Also, the consumption of push pull closures in food, chemical, and personal care & cosmetics industries has witnessed a significant increase. All the above factors are expected to boost the sales of global push pull closures.
Rising Competition from Closure-less Packaging
In order to reduce packaging costs and increase the profitability margins, food & beverage manufacturers are opting for closure-less packaging products such as closure-less tetra pack flexible pouches. This factor is creating high competition for push pull closures manufacturers. In today’s global economy, the strict rules and regulations by various governments against the use of plastic may hinder the growth of the global push pull closures market. Overall, the outlook for the global push pull closures market is expected to remain positive, during the forecast period.
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Global Push Pull Closures Market Taxonomy
The global push pull closures market is segmented by diameter, material, and end-use industry. The beverage industry is expected to dominate the global push pull closures market.
By diameter, the global push pull closures market is segmented into:
- Upto 24 mm
- 24 mm – 34 mm
- 34 mm – 44 mm
- Above 44 mm
By material type, the global push pull closures market is segmented into:
- Polyethylene (PE)
- Polypropylene (PP)
- Others (PS, PET)
By end-use industry, the global push pull closures market is segmented into:
- Others (Chemicals & Fertilizers)
The Asia Pacific excluding Japan (APEJ) region is estimated to account for the largest share in the global push pull closures market. The MEA region is estimated to contribute a small but rapidly growing market share in the global push pull closures market. The growth in the push pull closure market in Latin America is expected to be moderate during the forecast period.
Key Developments in the Global Push Pull Closures Market
- In October 2017, Silgan’s closures facility in Champaign, Illinois received Illinois Governor’s Sustainability Award 2017 for its efforts to minimize waste, cut energy consumption, reduce emissions, and improve safety.
- In April 2017, the company completed the acquisition of the dispensing systems business of WestRock Company for US$ 570 Mn.
- In May 2016, the company launched the ParaPET steel closure for PET jars and bottles on LaVictoria Salsa.
Competitive Landscape of the Global Push Pull Closures Market
Key players which have been profiled in the global push pull closures market report include Closure Systems International, Inc. , Mold-Rite Plastics, LLC, Georg MENSHEN GmbH & Co. KG, CL Smith Company, Global Closure Systems, Bericap GmbH and Co KG, Closure Systems International, Inc., O. Berk Company, LLC, Silgan Plastic Closures Solutions, RPC.M&H Plastics. Ltd., Global Closure Systems. , Amcor Limited, United Caps Luxembourg S.A, Jiangsu Changjiang Lids Co., Ltd, and Blackhawk Molding Co. Inc.