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China Plastic Caps Market

Analysis by Cap Type (Screw-on Caps, Dispensing Systems, and Others); by Raw Material (HDPE, LDPE, PP, and Others); by End User (Food & Beverage, Cosmetics and Personal Care, Pharmaceutical, Household, and Others) –Supply & Demand Analysis & Opportunity Outlook 2022-2033

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Report ID: 4687 | Published On: Feb 27, 2023
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  1. Introduction
    1. Market Definition
    2. Market Segmentation
  2. Assumptions and Abbreviations
  3. Research Methodology & Approach
  4. Summary of the Report for Key Decision Makers
  5. Major Roadblocks for the Market Growth
  6. Industry Risk Analysis
  7. Industry Supply Chain Analysis
  8. End User Analysis
  9. Competitive Positioning: Market Strategies to Differentiate a Company From its Competitors
  10. Competitive Model: A Detailed Inside View for Investors
    1. Market Share of Major Companies Profiled, 2022
    2. Business Profiles of Key Enterprises
      1. Hicap Closures Co., Ltd.
      2. Shantou Jinlei Plastic Industrial Co., Ltd.
      3. Guangzhou Cheers Packing CO., LTD
      4. Cangzhou Weikang Food & Pharmaceutical Package Co., Ltd.
      5. Berry Global Inc.           
      6. Albéa (Albéa Suzhou)  
      7. Jinan Youlyy Industrial Co., Ltd.
      8. Ningbo GreenYard Sprayers Co.,Ltd
      9. BERICAP                       
      10. Yulin Plastic Packing Factory
      11. Chenxin Packaging CO., Limited
  11. China Plastic Caps Market, Outlook & Projections, Opportunity Assessment, 2022 to 2033
    1. Market Overview
    2. Market Revenue by Value (USD Million) and Compound Annual Growth Rate (CAGR)
    3. Year-on-Year (Y-o-Y) Growth Trend Analysis
    4. China Plastic Caps Market Outlook & Projections, Opportunity Assessment by Segment
      1. By Cap Type
        1. Screw-On Caps, Market Value (USD Million) & CAGR, 2022-2033F
        2. Dispensing Caps, Market Value (USD Million) & CAGR, 2022-2033F
        3. Others, Market Value (USD Million) & CAGR, 2022-2033F
      2. By Raw Material
        1. HDPE (High Density Polyethylene), Market Value (USD Million) & CAGR, 2022-2033F
        2. LDPE (Low Density Polyethylene), Market Value (USD Million) & CAGR, 2022-2033F
        3. PP (Polypropylene), Market Value (USD Million) & CAGR, 2022-2033F
        4. Others, Market Value (USD Million) & CAGR, 2022-2033F
      3. By End User
        1. Food & Beverage, Market Value (USD Million) & CAGR, 2022-2033F
        2. Cosmetics and Personal Care, Market Value (USD Million) & CAGR, 2022-2033F
        3. Pharmaceutical, Market Value (USD Million) & CAGR, 2022-2033F
        4. Household, Market Value (USD Million) & CAGR, 2022-2033F
        5. Others, Market Value (USD Million) & CAGR, 2022-2033F

China Plastic Caps Market Size, Forecast, and Trend Highlights Over 2022 - 2033

The China plastic caps market is estimated to garner a revenue of USD 16,317.7 Million by the end of 2033 by growing at a CAGR of 6.8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 7,962.3 Million in the year 2022. The growth of the market can be attributed to the increasing export of plastic bottles and caps from China to other countries. The growing demand for plastic caps from other countries increases the manufacturing of plastic caps in China. Plastic stoppers, lids, caps, and other closures were China's 288th most exported goods in 2020. Additionally, China was the world's biggest exporter of plastic stoppers, lids, caps, and other closures in the same year, shipping more than USD 1 billion worth of these products abroad. Furthermore, China manufactures about 34% of the plastic bottles shipped to the United States. Moreover, over 30% of plastic lids going to the US are produced in China.

China-Plastic-Caps-Market-overview.j

In addition to these, factors that are believed to fuel the market growth of China plastic caps include the rise in cheaper manufacturing cost of plastic products in China. Everyone in the world wants products at a reasonable cost, therefore low product cost of plastic boosts the demand for plastic product from various nations of the world, thus pushing the manufacturing units of China.  The cost of productivity is lower on the back of extremely low labor costs, the salary of a tool maker is the lowest in the world, a Chinese tool maker will gladly perform the same task for around USD 1,000 while a tool maker in the US easily earns more than USD 40,000 annually. Furthermore, the overhead cost of the factory in China also contributed to low production costs. Many Chinese businesses are open 24 hours a day, 7 days a week, making better use of their costly machinery and making it comparably less expensive.


China-Plastic-Caps-Market-overview.j
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China Plastic Caps Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

6.8%

Base Year Market Size (2022)

USD 7,962.3 Million

Forecast Year Market Size (2033)

USD 16,317.7 Million

Regional Scope

                               China


China Plastic Caps Market: Growth Drivers and Challenges

Growth Drivers

  • Higher Production of Plastic – Increased production of high-quality plastic is expected to augment the production of plastic-made products in China. Every month, China generates almost 7 million metric tonnes of plastic products. The greatest monthly production of plastic goods since January 2020 was around 8 million metric tonnes in December 2021.

  • Higher Use of Plastic in Packaging– Products in plastic packaging preserve their flavor, aroma, and nutritional value while being secured from external contamination. Therefore, plastics are highly used in packaging. The total estimated annual household plastic packaging consumption in China is 19,800 tonnes, out of which the total consumption of cans and containers, and PET bottles is around 3,800 and 5,500 respectively.

  • Rising Use of Bottles for Water and Beverages – Most water bottles and both carbonated & non-carbonated beverages used plastic caps from sealing the content.  Around 11 million metric tonnes of soft drinks were produced in China in November 2022. Furthermore, the sale revenue of soft drinks in the year 2022 was around USD 126 billion.

  • Introduction of Better Plastic Caps and Grips – The International Technical Centre for Bottling and Related Packaging CETIE introduced a new standard for the neck of the cap, which is GME 30.40 to curb the weight of the neck and closure. Moreover, BERCAP launched around 7049 closures that matched the GME 30.40 standards for neck finish.

  • Low Production Cost of Plastic– The cost of plastic production in China is estimated to be cheap owing to low labor costs, the abundance of raw materials, and higher factory working hours.  The price of plastic products is around 30% to 75% lower than in the United States.

Challenges

  • Existence of Alternatives to Plastic Caps - The increasing option of materials that can be used to make caps is likely to hinder the market growth. For instance, in alcoholic beverages, cork closures and aluminum caps are used. On the other hand, in glass bottles generally, metal caps are used. Furthermore, rubbers are highly used when re-sealing is required, such as in pharmaceutical bottles. The primary barrier to the expansion of the plastic cap market is rubber, which competes with plastic even in plastic container closures.
  • Negative Impact of Plastic on the Environment
  • Various Policy Launched by the Government to Reduce Plastic-Usage


Market Segmentation

The China plastic caps market is segmented and analyzed for demand and supply by end users into food & beverage, cosmetics and personal care, pharmaceutical, household, and others. Out of the five types of end user, the food & beverage segment is estimated to gain the largest market share of USD 10,059 million at the end of 2033 by growing at a CAGR of 7.2% over the projected time frame. Moreover, the segment generated a revenue of USD 4,708.7 million in 2022. The growth of the segment can be attributed to the increasing use of carbonated drinks and water bottles, for carbonated drinks mostly PET of polyethylene terephthalate is used for packaging. In China, the total estimated annual household packaging consumption of PET bottles in the food and beverage industry is around 75 tonnes and 5200 tonnes, respectively. In addition to this, the consumption of other plastic bottles was around 177 tonnes. Furthermore, with a per-person consumption of about 28 billion gallons of bottled water in 2020, China dominated the globe in bottled water consumption.

The China plastic caps market is also segmented and analyzed for demand and supply by raw material into HDPE, LDPE, PP, and Others. Amongst these four segments, the HDPE segment is expected to garner a market revenue of USD 6726.2 million at the end of 2033 by growing at a CAGR of 7% over the projected time frame. Additionally in 2021, the segment produced revenue of USD 3,207.2 million. As a base material for plastic caps, HDPE resin has various benefits, including food safety, chemical resistance, high flexibility, and sustainability. The segment growth is expected to be on the back of high demand for HDPE and rising imports in China.  Significantly more than any other nation or region, China was responsible for around 34% of the world's demand for HDPE in 2021 and China accounted for nearly 51% of net imports. In 2020, China imported about 3 million tonnes of HDPE and in the next year in 2021 around 6 million was imported.

Our in-depth analysis of the China plastic caps market includes the following segments:

                           By Cap Type

  • Screw-on Caps
  • Dispensing Systems
  • Others

                        By Raw Material

  • HDPE
  • LDPE
  • PP
  • Others

                     By End User

  • Food & Beverage
  • Cosmetics and Personal Care
  • Pharmaceutical
  • Household
  • Others
 


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Top Featured Companies Dominating the China Plastic Caps Market

    • Hicap Closures Co., Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Shantou Jinlei Plastic Industrial Co., Ltd.
    • Guangzhou Cheers Packing CO., LTD
    • Cangzhou Weikang Food & Pharmaceutical Package Co., Ltd.
    • Albéa (Albéa Suzhou)
    • Jinan Youlyy Industrial Co., Ltd.
    • Ningbo GreenYard Sprayers Co., Ltd.
    • Berry Global Inc.
    • BERICAP
    • Chenxin Packaging CO., Limited
    • Yulin Plastic Packing Factory 

     


In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the China plastic caps market?

Ans: Rising production of plastic products, the launch of better plastic caps in the market, cheaper manufacturing cost, and rising use of plastic in packaging are the major factors driving the market growth.

2) What would be the CAGR of China plastic caps market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 6.8% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the China plastic caps market growth?

Ans: The availability of other raw materials, rising environmental concerns and, strict regulations against plastic usage are estimated to be the growth hindering factors for the market expansion.

5) Who are the major players dominating the China plastic caps market?

Ans: The major players in the market are Hicap Closures Co., Ltd., Shantou Jinlei plastic industrial Co., Ltd., Guangzhou Cheers Packing CO., LTD, Cangzhou Weikang Food & Pharmaceutical Package Co., Ltd., Albéa (Albéa Suzhou), Jinan Youlyy Industrial Co., Ltd.Ningbo GreenYard Sprayers Co., Ltd., Berry Global Inc., BERICAP, Chenxin Packaging CO., Limited, and Yulin Plastic Packing Factory.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the China plastic caps market?

Ans: The market is segmented by cap type, raw material, end user, and by region.

8) Which segment captures the largest market size in the end user segment in the China plastic caps market?

Ans: The food & beverage segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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