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U.S. plastics caps & closures market to reach $10.4 billion by 2016

September 18, 2013

AKRON, OHIO — The U.S. market for plastic caps and closures will post above-average sales increases through 2016 based on the increased use of plastic containers and the expanded use of plastic closures on other container types, according to a new data report.

Market growth will be supported by price increases in materials as well as increased use of value-added dispensing and child-protective closures. It also will be fueled by the growing popularity of single-serving containers, particularly in the beverage market, and more plastic options in areas once dominated by other materials.

Market growth will be supported by price increases in materials as well as increased use of value-added dispensing and child-protective closures. It also will be fueled by the growing popularity of single-serving containers, particularly in the beverage market, and more plastic options in areas once dominated by other materials.

The overall fiscal growth for caps and closures will be moderated by potential resin price increases and additional lightweighting of closures to offset material price increases.

The caps and closures market is growing faster than the broader packaging and plastics markets — the global market has seen 6.5 percent annual growth since 1998, and growth is even higher in emerging markets. World demand for caps and closures is projected to rise to $40 billion in 2014. Beverages will remain the main consumers of caps and closures, but more rapid gains are expected in other markets such as food and pharmaceuticals.

For more information on the Plastics News data report “Plastics Caps & Closures Market Review & Outlook 2014 - North America,” visit www.plasticsnews.com/data, or contact Glenn Glasberg at (330) 865-6161 or gglasberg@crain.com.