PCR Closures Market size was estimated at $XX billion in 2020 and is expected to reach $XX billion by 2028, growing at a CAGR of XX% during the forecast period of 2021 to 2028.
PCR Closures Market
Post-Consumer Resins (PCR) closures are sustainable packaging solutions made from recycled plastic materials and wastes. These packaging solutions reduce the impact of the carbon footprint on the environment by eliminating plastic wastes through recycling. PCR closures are widely used in pharmaceutical, cosmetics, food and beverages, personal care, automotive, and several other chemical industries. The PCR closures cannot be recycled further as these are made from recycled materials, but the quality of PCR closures is equivalent to the closures made from 100% virgin resins.
The introduction of PCR closures in the market has offered the developed and developing nations an opportunity to reduce the impact caused by plastic materials and their wastes. Adapting sustainable packaging solutions made from post-consumer resins as an alternative to virgin plastic resins is a perfect solution to protect the environment. Therefore, the demand for the PCR closures market is growing significantly.
PCR Closures Market Growth and Trend
The growing demand for concerns about the environment due to plastic usage is significantly driving the growth of the global PCR closures market. The advantages of the PCR closures and virgin resins have compelled industries to adopt the post-consumer resin packaging systems. In developed and developing countries, PCR closures packaging solutions have replaced traditional packaging solutions.
The World Economic Forum (WEF) has announced that 170 countries have pledged for plastic reduction by 2030. As a result, there were several restrictions imposed on countries that are using virgin plastic resins. It made the key players of the market AptarGroup, Borealis AG, and Menshen Packaging USA Inc. adapt the combination of PCR and virgin resins or even 100% post-consumer resin content as raw materials. In addition to this, the covid19 pandemic has imposed a negative impact on the end-use industries such as cosmetics, personal care, and home care. It lowered the PCR closures market, but gradually the market is gaining pace with significant demand from the food & beverages and pharmaceutical industries. The ongoing lenience on lockdown restrictions may further heighten the demand in the PCR closures market.
PCR Closures Market Segmentation
The PCR Closures market is segmented by component, material type, PCR content, and application. Based on components, the market consists of dispensing caps, screw-on caps, twist-on closures, and other components which are child-resistant closures. By material type, the market is divided into Polyethylene (PE), Polypropylene (PP), and Polyethylene Terephthalate (PET). The Polyethylene (PE) material is further segmented into Low-Density Polyethylene (LDPE) and High-Density Polyethylene (HDPE). Based on PCR content, the market is segmented into less than 30%, 30% to 60%, and more than 60%. Based on application, the market is divided into pharmaceutical, food and beverage, cosmetics, personal care, automotive, and other applications related to chemicals.
PCR Closures Market Country Analysis
Europe is likely to dominate the overall market growth during the forecast time frame. The regional growth can be attributed to the enhanced awareness of the population and the rigorous laws introduced by the authorities on the applications of plastic in those regions. Moreover, with the rising consumer preference towards environ-friendly, sustainable packaging solutions in developing countries like India, China, and Japan, the market in the Asia Pacific is predicted to witness growth at a higher CAGR. Latin America is growing at the same pace as the Asia Pacific.
PCR Closures Market Share and Competition
The major players operating in the global PCR closures market are Berry Global Inc., AptarGroup Inc., O. Berk Company LLC, Silgan Dispensing Systems, Weener Plastics Group BV, Closure Systems International Inc., Drug Plastics Group, RPC Group Plc., Gerresheimer AG, Comar LLC, Raepak Ltd., MJS Packaging, and Ramson Packaging AS.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Material Type Analysis (Revenue, USD Million, 2021 - 2028)
• Polyethylene (PE)
o Low-Density Polyethylene (LDPE)
o High-Density Polyethylene (HDPE)
• Polypropylene (PP)
• Polyethylene Terephthalate (PET)
Component Type Analysis (Revenue, USD Million, 2021 - 2028)
• Dispensing caps
• Screw-on caps
• Twist-on closures
• Others (Child-resistant closures)
PCR Content Analysis (Revenue, USD Million, 2021 - 2028)
• Less than 30%
• 30% to 60%
• More than 60%
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Pharmaceutical
• Food and Beverage
• Cosmetics
• Personal Care
• Automotive
• Others (Chemical)
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o the United States
o Canada
o Mexico
• South America
• Europe
o France
o Germany
o Italy
o Spain
o the United Kingdom
o Austria
• the Asia Pacific
o Russia
o China
o Japan
o India
o the Philippines
o Malaysia
o Australia
o South Korea
• Middle East
o GCC Countries
• South Africa
• Rest of World
PCR Closures Market Companies
• Berry Global Inc.
• AptarGroup, Inc.
• O. Berk Company, LLC
• Silgan Dispensing Systems
• Weener Plastics Group BV
• Closure Systems International Inc.
• Drug Plastics Group
• RPC Group Plc.
• Gerresheimer AG
• Comar LLC
• Raepak Ltd.
• MJS Packaging
• Ramson Packaging AS
Available Versions
• United States PCR Closures Industry Research Report
• Europe PCR Closures Industry Research Report
• Asia Pacific PCR Closures Industry Research Report
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