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US demand to reach $10.4 billion in 2016
US demand for caps and closures is projected to reach
$10.4 billion in 2016, representing 280 billion units. Gains will be supported by material price increases and greater use of value-added dispensing and child-resistant closures. Unit gains will be fueled by the continued popularity of single-serving containers, especially in the beverage market; further inroads by plastic containers into applications once dominated by glass and metal containers; and the use of closures on other container types such as gabletop cartons, aseptic cartons, and stand-up pouches. Among factors that will moderate unit growth are the maturity of several large beverage applications and competition from closureless alternatives such as peelable lidding and blister packaging.
Plastic to remain leading material & product type
Plastic caps and closures, by far the leading material and product type, will post above average increases through 2016 based on the significance of plastic containers and the expanded use of plastic closures on other container types. Dispensing caps, which are generally more expensive than standard types and favored by consumers for their convenience and ease of use, will register the fastest gains among major plastic closure types. Overall value growth for plastic caps and closures will be restrained by an expected moderation in resin price increases relative to the 2006-2011 period and further lightweighting of closures for sustainability and to reduce costs. While metal closures will face further losses to plastic closures, growing use of aluminum roll-on closures in the wine market will provide a growth niche. Elastomer and rubber stopper demand will register healthy gains, driven by the continuing commercialization of injectable biotechnology-based drugs and the increased preference for stoppers made from higher-value synthetic rubber and thermoplastic elastomers. Natural corks will experience a modest recovery due to quality improvements and proactive industry marketing programs aimed at promoting cork as a sustainable and value-adding option in wine packaging.