Screw Closure Market

The screw closure refers to type of fastener which is used in the packaging and sealing of containers, bottles and jars. The screw closure is generally a metal or plastic cap that screws onto the threads of the bottles, jars and other containers. The screw closure are widely used in packaging and sealing of liquid products in the industries. The screw closure are used in the containers to provide safety and security from the dirt, moisture and other air contaminants. The screw closure are categorized into various types on the basis of the material such as metal, polypropylene, thermosets and others.

COVID-19 scenario analysis:

• The demand for the screw closure is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from packaging industry.
• COVID-19 crisis is likely to affect the screw closure industry negatively, as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally.
• COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
• The requirement of eCommerce specific packaging is likely to remain strong, although the ecommerce companies would have to focus on protection of goods and sanitization of packages.
• In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products such as groceries and fresh food mainly from local e-retail sites.
• Industrial, transportation, and bulk packaging has faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020.
• Owing to the lowered disposable income of maximum population and weak demand for packaging from industrial goods, the packaging industry might face significant pressure of reduction in both wholesale as well as retail costs.
• Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services, which is expected to hinder the packaging industry growth in the future after the COVID-19 crisis.

Top impacting factors: Market Scenario Analysis, Trends , Drivers and Impact Analysis

The increasing demand for the screw closures in the food & beverage industry owing to newer beverage categories such sporty drinks, ready to drink tea and other healthy beverage alternatives is driving the growth of screw closures market. The increasing demand for the screw closures in the industries to reduce the product wastage and hassle free opening & closing is further expected to drive the growth of screw closures market. The screw closures helps in providing extended shelf life to the products and preserve texture, color and flavor of the product for longer duration. The growing demand for the screw closures in the packaging industry especially for the packaging of liquid products is driving the growth of screw closures market. Moreover, the increasing manufacturing of resins and adhesives is further expected to create demand for the screw closures. The Europe region is accounted to hold the maximum share in the screw closures market followed by North America. The increasing food & beverages industries owing to increasing consumption of beverages across countries such India, China and Japan in the Asia-Pacific region is expected to boost the growth of screw closure market. However, the fluctuating cost of raw materials such as HDPE and polypropylene can hamper the growth of market. Contrarily, the eco-friendly products and technologically advanced screw closures can provide new pathways to the screw closures market.

New product launches to flourish the market

In the past few years, many technologically advancedscrew closure having unique features were launched in the screw closure market. On September 2018, one of the global leader in screw closure products Coravin has launched an innovative screw closure solution for the wine products. The screw closure solution can preserve the wine fresh for 3 months even after disclosure of the screw closure from the wine bottle.

High demand form applications:

The screw closure offer various applications in industries like packaging, pharmaceutical, food & beverages and cosmetic products. The screw closures are used in sealing of jars, bottles and other such containers. The screw closure are most often used for packaging liquid products such as wine, adhesives, resins, dairy products, food products, condiments, personal care and cosmetic products. Further, in food & beverages industries screw closure play a major role in the packaging and preserving of food products & beverages. The screw closure can help in extending the shelf life of the food products and prevents it from dirt, moisture and other air contaminants. The screw closures are used in the pharmaceutical industry to prevent physical and chemical contact to the contents of the drug and medicines. The screw closures are used in other application like glass packaging, healthcare industry and other such applications.

Key benefits of the report:

• This study presents the analytical depiction of the screw closure market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the screw closure market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight thescrew closure market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Market analysis based on competitive intensity and how the competition will take shape in coming years.

 Screw Closure Market Report Highlights