Aluminum Caps & Closures Market

Crown Holding (US) and Amcor (Australia) are the Key Players in the Aluminum Caps & Closures Market

MarketsandMarkets projects that the aluminum caps & closures market size will grow from USD 5.58 Billion in 2018 to USD 6.80 Billion by 2023, at a CAGR of 4.05%. The aluminum caps & closures market is witnessing considerable growth due to increasing demand for convenience packaging and the growing concerns about product safety and security in beverage, food, and pharmaceutical industries. The growing demand from end-use industries due to their benefits and wide-scale application are the key factors driving the growth of the aluminum caps & closures market.

The key players in the aluminum caps & closures market include Crown Holding (US), Silgan Holdings (US), Amcor (Australia), Guala Closures (Luxembourg), and Closure Systems International (US). Other players in this market include Alcopack Group (Germany), Herti JSC (Bulgaria), Torrent Closures (Spain), Cap & Seal Pvt. Ltd (India), and Federfin Tech S.R.L (Italy). These players adopted various strategies such as expansions & investments, agreements, contracts, and strategic alliances, mergers & acquisitions, and new product & technology launches to strengthen their position, expand their global presence, and increase their share in the market.

Crown Holding is one of the largest packaging companies in the world. The company offers a large number of packaging solutions catering to various end-use industries such as food & beverage, pharmaceuticals, powered drinks, and confectionery packaging. It operates in segments such as beverage cans, food cans & closures, and others, and offers aluminum closures under the food caps & closures segment. It has adopted organic and inorganic strategies such as expansions & investments, new product & technology launches, and mergers & acquisitions to expand its global presence. For instance, in February 2018, Crown Food Europe, a subsidiary of Crown Holdings, introduced a new capping solution package, which would help food manufacturers to lower the total cost of ownership. The package would include the sale of its capping technology, ancillary components, and expert technical support for the machine’s service life. Three of Crown’s capping solutions-Smart Capper, Euro Capper, and Global Capper-were to be available for sale as part of this package.

In March 2018, Crown Holdings set up a manufacturing facility for new easy-open ends at its Nagykörös plant, Hungary. The new facility would be comprised of two lines that would manufacture 65mm and 73mm diameter ends, for applications such as pet food, vegetables, and ready meals.

Amcor is one of the leading companies in the aluminum caps & closures market. It is a global packaging manufacturer that offers innovative packaging solutions. The company operates through two business groups, namely, flexibles and rigid plastics. The company caters to the food, healthcare, beverage, home, tobacco, and personal care industries through its broad range of flexible and rigid packaging products. The company has maintained its leadership position through its strong distribution network across North America, Western Europe, Australia, and New Zealand. The company continues to expand its capacity by adopting organic strategies such as expansions and inorganic strategies such as acquisitions, joint ventures, and agreements across the world.

In May 2016, Amcor announced the acquisition of Plastic Moulders Limited (Canada), a rigid plastics business that manufactures containers and closures for the food and home/personal care markets in North America at an estimated cost of USD 30 million. The acquisition would contribute to the expansion of Amcor’s closure business in North America.

In November 2016, Amcor and Selinko (Belgium), an object identification company, launched InTact, a high-quality connected capsule (over-cap) offering a unique solution for wines and spirits to fight counterfeiting and fraudulent refilling.

Related Reports:

Aluminum Caps & Closures Market by Product Type (Roll-on pilfer-proof Caps, Easy-open Can Ends, Non-refillable Closures), End Use Sector (Beverages, Food, Home & personal Care, Pharmaceutical), and Region - Global Forecast to 2023

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Report Code
PK 6268
RI Published ON
5/9/2018
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