NEW YORK, March 20, 2018 (GLOBE NEWSWIRE) — According to the research report published by P&S Market Research, Global UV metallized caps and closures market is expected to reach $378.9 million by 2023, The growth of the market is driven by the growing demand from cosmetics, fragrance, and skin care industries; and rising demand of food and beverages across the globe.
On the basis of metallizing material, the UV metallized caps and closures market is segmented into aluminum, alloy, and others. Others include chromium, silver, gold, and platinum. Aluminum has been the largest metallizing material due to its several benefits such as low cost, lightweight, glossiness similar to silver, and corrosion resistance. Owing to such benefits, the use of aluminum as metallizing material is growing across packaging applications for industries including cosmetics, fragrance, skincare, food and beverage, and others.
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Of all plastic types in the UV metallized caps and closures market, polypropylene has been recording the largest share in the market so far. The largest market share is attributed to its several benefits such as low cost, high flexural strength, chemical resistance against food and cosmetic ingredients, and high thermal resistance.
Based on application, the UV metallized caps and closures market is divided into cosmetics, fragrance, and skincare; and food and beverage categories. The products have been recording greater application in the cosmetics, fragrance, and skin care category due to distinctive benefits, such as improved durability, premium look, and eradication of surface imperfections created during the production process.
Globally, Europe has been recording the highest revenue in the UV metallized caps and closures market. From the supply side, the growth of the European market is driven by the increase in the production capacity and production cost optimization by manufacturers through low cost raw material sourcing. Also, the demand of UV metallized caps and closures is growing in countries such as the Czech Republic, Poland, Slovakia, Hungary, and others, which is driving the overall growth of the market in Europe.
Browse report overview with 113 tables and 43 figures spread through 146 pages and detailed TOC on “UV Metallized Caps & Closures Market”: https://www.psmarketresearch.com/market-analysis/uv-metallized-caps-and-closures-market
North America is estimated to account for the second highest revenue share in the global UV metallized caps and closures market. From the supply side, the growth of the North American market is driven by the increase in import of low cost UV metallized cosmetics packaging components from Asian countries, and growing usage in fragrance companies. The growing demand for metallized packaging for color cosmetics among consumers is also fueling the growth of the market.
This growth in consumer spending on cosmetics, and food and beverage items is also attributed to the extensive marketing by the industry players.
Some of the major players operating in the UV metallized caps and closures industry Albea Beauty Holdings S.A., RPC Group Plc, HCP Packaging Co. Ltd., Quadpack Industries, Eurovetrocap Spa, ILEOS, Essel Propack Limited, Politech Sp. z.o.o, Lumson S.p.A, and Hangzhou Zhenhua Daily Chemicals Glass Co. Ltd.
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