South Korea industry statistics of Pull out cap – Industry Outlook, Growth Prospects and Key Opportunities

The global demand for pull out caps largely relies on advancements in product planning and development. These caps have been in use for several decades in key industries such as consumers goods, chemical storage, and stationeries. The relevance of using pull out caps in cans and bottles used for storing chemicals and liquids has played an integral role in driving industrial demand. Pull out caps drive utility and ease for users, creating increased demand across key industries. Furthermore, steel and plastic water bottles are sealed with pull out caps. These caps help in preventing leakage from bottles, adding to their value across key end-use industries.

  • The stellar growth of the global pull out cap sector can be attributed to advancements in product designing. New types of pull out caps that can reused and recycled after being disposed has also driven sale of this product. Besides, these caps are used in pens, markers, whiteners, and other stationery items.
  • Sellers of pull out caps focus on developing attractive designs that reek of utility and ease for consumers. The quest of product planners to offer attractive designs at affordable prices has brought in increased investments in pull out caps. Cross-selling is an important component of the global pull out cap sector.  

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Pull out cap Market: An Overview

Pull out cap is easy to use, retractable and offers a variety of tamper-evident features and is entirely biodegradable. This cap is sustainable, which allows resealing and easy dispensing of a range of products like oils, chemicals, and viscous substances. It is cost-effective and can hold any liquid and solid substances. Pull out cap also maintains the freshness of the product stored. It is durable and convenient as it is integrated with two tough handles. Pull out cap allow easy and fast opening and is eco-friendly. It provides compactness which helps in lowering the shipping cost while stalking them in a carton for transportation. Pull out cap mainly serve the areas of pharmaceutical, food, chemical, and automotive industry.

Pull out cap Market: Dynamics

Need for a packaging solution that lowers the wastage and is safe drives the market for pull out cap in the food and pharmaceutical industry. Reduced manufacturing cost of pull out cap can raise the demand for pull out cap. The cheap raw material required for the production of the pull out cap with complete recyclability forces the manufacturers to provide innovative pull out cap. This can propel the market. The high degree of protection offered by pull out cap which can be easily reapplied propels the market for this cap. Advancement in pull out cap market to bring innovative products such as anti-gurgling and long funnel cap can boost the market. Accelerating technological advances in the chemical industry can help in the growth of this market.

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Pull out cap Market: Key Developments

Many key players in the market are focusing on acquisition and product launch to expand their product portfolio and business area. Recent developments in the performance of pull out cap market have created reliable and tamper-evident caps. This is helping to raise the demand for pull out cap. Companies are now able to produce easy-to-use and recyclable pull out cap.

  • On 2 September 2019, BERICAP presented its latest plastic closures for various applications at FachPack 2019
  • On 1 May 2019, TriMas parent company of Rieke Packaging Systems acquired Taplast S.p.A., a privately-owned designer and manufacturer of dispensers and closures for Europe and the Americas.

Pull out cap Market: Segmentation

On the basis of material, the pull out cap market has been segmented into:

  • Plastic
    • Polypropylene (PP)
    • Polyethylene (PE)
      • High-density polyethylene (HDPE)
      • Low-density polyethylene (LDPE)
    • Others

On the basis of application, the pull out cap market has been segmented into:

  • Pharmaceutical/Nutraceuticals
  • Food
  • Personal Care & Cosmetic
  • Automotive
  • Others (e.g. chemical industry)

On the basis of end-use, the pull out cap market has been segmented into:

  • Edible Oil
  • Ghee
  • Crude Oil
  • Food Products
  • Chemicals
  • Lubricants and Chemical
  • Petroleum
  • Others (Adhesives, etc.)

Pull out cap Market: Regional Outlook

Countries like Germany and Russia in the European region have the highest number of chemical industries and are the largest food-producing regions while countries like Japan, China, and India in the Asia Pacific region and the U.S. in the North America region are the largest food consuming regions; and therefore, the market for pull out cap is expected to rise. The pull out cap market in developed countries such as the U.S., Italy, and the UK is expected to have positive growth during the forecast period. It attributed to the high demand for pull out cap incorporated in preventing spillage and allowing safe storage & transportation of goods. The increasing demand for an efficient packaging system along with being cost-effective drives the pull out cap market in developing countries such as India, China, etc.

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Pull out cap Market: Key Players

  • Decap Closures Pvt. Ltd.
  • Creative International
  • Prayas Innconcepts Private Limited
  • Bericap Gmbh & Co. KG
  • Foshan Jingcheng Packaging System Co., Ltd.
  • Captel International Pvt. Ltd.
  • Wolf Plastics Verpackungen GmbH
  • Lijia Dingsheng electronic component Co., Ltd. 
  • Rieke Packaging Systems
  • PM Labels

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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