Buttress Closures Market: An Overview
Buttress closures are components which are used to seal or close the bottle, jar, tube, or any other container. Commonly, buttress closures are manufactured from high-quality material such as metal and plastic. Where plastic is expected to remain the prominent material choice for manufacturing of buttress closures in coming years. Buttress closures provide protection from external contamination and reduce leakage, thus ensuring product quality throughout the supply chain. Desirable characteristics of buttress closures such as high rigidity, oxygen & moisture barrier, impact resistance, and temperature tolerance make them the reliable closing option for various containers. Child resistance buttress closures to gain popularity in various end-use industries in the coming years. Overall, the global viewpoint for buttress closures market expected to remain positive during the forecast period.Top of Form
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Buttress Closures Market: Dynamics
Global trade of food & beverage has observed remarkable growth. This can be prominently attributed to rising demand for effective packaging solutions to ensure a longer shelf life of food & beverage. As buttress closures are proven to play a vital role in ensuring effective packaging solution for various food & beverages, these factors are likely to drive its growth in the coming years. Beverage consumption has almost tripled over the last decade and owing to new product innovation coupled with the entry of major alcoholic beverage brands, and the market seems lucrative over the next decade too. This factor is likely to create significant demand for buttress closures during the forecast period. Also, growing acceptance of buttress closures in pharmaceutical and cosmetics & personal care are foreseen to propel the growth of buttress closures throughout the forecast period.
Manufacturers of buttress closures are focusing on developing light-weight closure to attain the first-mover benefit. Plus, material saving is beneficial for manufacturers and encourages more investment in new and innovative products. Industry consolidation and vertical integration are foreseen to unfold several opportunities for buttress closures market. Also, numerous buttress closures manufacturers are aiming towards integrating the mold manufacturing facility in their existing caps and closures plants to increase their production efficiencies and profitability margins. Overall, global buttress closures market is projected to expand with remarkable CAGR during the forecast period.
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Buttress Closures Market: Regional Outlook
East Asia region to remain at the forefront regarding the market share of buttress closures market and projected to expand with notable CAGR in the next decade. The increasing consumption of ready-to-drink beverages to drive the growth of buttress closures market in East Asia region. China is foreseen to remain dominant by accounting a significant chunk of market share throughout the forecast period. South Asia region is anticipated to register remarkable growth rate buttress closures market throughout the forecast period. The robust growth rate of end-use industries foreseen to offers significant growth opportunity for buttress closures market during the forecast period. In South Asia, India is expected to be highly attractive regarding the growth rate and market share of buttress closures market in coming years. Europe is a momentous shareholder of global buttress closures market and projected to expand with a healthy growth rate during the forecast period. In Europe, the beverage industry is anticipated to generate considerable demand for the buttress closures in coming years.
Buttress Closures Market: Key Players
Some of the key players operating in the global buttress closures market includes, O.Berk Company, LLC, Tri-Sure, USA, Mold-Rite Plastics, BERICAP Holding GmbH among others.