Global Ribbed Phenolic Cap Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|螺紋酚醛蓋的全球市場(2021年∼2028年) Global Ribbed Phenolic Cap Market - 2021-2028|
|出版日期: 2021年08月12日||內容資訊: 英文 180 Pages||
Global Ribbed Phenolic Cap Market Overview
The global ribbed phenolic cap market size was worth US$ XX billion in 2020 and is projected to show significant growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% within the forecast period (2021-2028).
Phenolic is a thermoset resin with excellent physical and moulding characteristics. Phenolic caps are commonly used in laboratories because of their strength and durability and their heat-resistant and insulating qualities. Chemical corrosion resistance is excellent, and moisture absorption is low. Furthermore, the ribbed phenolic cap is a form of threaded closure used in the packaging industry that provides an excellent grip for twisting off and on, allowing the product to be sealed and resealed. The ribbed phenolic cap is made with a poly-seal liner, which provides an excellent barrier and tight seal to the product. The top of ribbed phenolic caps is smooth. It also has advantages like long life and durability. As a result, ribbed phenolic caps are more expensive than standard caps. The ribbed phenolic caps are recyclable and are expected to gain popularity in the coming years.
Ribbed Phenolic Cap Dynamics
Increasing demand for liquid medicine has accelerated the demand for ribbed phenolic caps in the pharmaceutical industry. Improvement in global beverage consumption coupled with increasing with the entry of significant wine brands; thus market seems lucrative for the ribbed phenolic caps over the next decade too
Increasing demand for liquid medicine has accelerated the demand for ribbed phenolic caps in the pharmaceutical industry
Pharmaceutical packaging is a critical part of the worldwide packaging industry. It is used to protect, preserve, and store a wide range of pharmaceutical products such as pharmaceuticals, prescriptions, and other medical supplies. Plastic, glass, metal, and paper are just a few of the materials used in pharmaceutical packaging. The fast expansion of the pharmaceutical business amid the COVID-19 disaster has been a primary driver of pharmaceutical packaging sales. In addition, the discovery of new treatments or medications to address a variety of conditions has provided growth prospects for pharmaceutical packaging industry participants. The increasing demand for pharmaceutical packaging has greatly affected the demand for ribbed phenolic caps in the past few years. The packaging is equipped with liner molds around the sealing areas, ensuring tight-fitting, thus eliminating leakage and evaporation and contamination of the stored medicine. The tight sealing also helps the unwanted spillage of stored liquid medicine leading to create market growth opportunities for the packaging product to proliferate in the forecast period
Improvement in global beverage consumption coupled with increasing with the entry of significant wine brands; thus market seems lucrative for the ribbed phenolic caps over the next decade too
Over the forecast period, the beverage packaging industry is expected to rise at a rapid pace. The growing emphasis on eco-friendly and biodegradable packaging is expected to raise demand for beverage packaging, enhancing market trends in the process. Furthermore, as more producers use biodegradable, recyclable, and compostable packaging, the market will rise in the coming years. For instance, The global market for alcoholic beverages was estimated to be approximately 1.49 trillion dollars in 2020. In comparison to the previous year, annual revenue dropped by roughly $200 billion. While estimations predict that the industry will grow again in 2021, it will take until at least 2022 for the market to recover and reach the pre-pandemic sales of 2019. The tremendously improving beverage industry business has created immense demand for excellent sealing and eco-friendly packaging products, thereby creating opportunities for the ribbed phenolic caps market in the forecast period.
Excellent properties and increasing demand in the chemical industry for storing different chemical has created the demand for recyclable ribbed phenolic caps
Ribbed phenolic caps are recyclable, high-performance, long-lasting caps with an extraordinarily high heat resistance; at temperatures above 220 degrees Celsius, phenolic caps begin to degrade. When utilized within their ideal temperature range, phenolic caps are extremely durable. Ribbed phenolic formaldehyde resin is a Phenol Formaldehyde Resin. The majority of phenolic caps protect against harmful acids, bases, and other reactive compounds. Furthermore, When combined with polycone liners, the inert chemical characteristic of phenolic caps is predicted to increase preference. As a result, ribbed phenolic caps outperform their equivalents when exposed to hazardous and corrosive compounds such as acids and bases. Ribbed phenolic caps are dependable and safe, which leads to a strong preference for them in laboratories leading to create market opportunities in the forecast period.
COVID-19 Impact Analysis
The fast expansion of the pharmaceutical business in the aftermath of the COVID-19 issue has been a primary driver of pharmaceutical packaging sales. In addition, the development of new treatments or medications to address a wide range of conditions has provided growth prospects for pharmaceutical packaging companies. The pandemic outbreak has increased the demand for pharmaceutical packaging, offering excellent sealing properties and protecting, preserving, and storing various pharmaceutical products, including drugs, medications, and others. However, apart from the pharmaceutical industry, other industries struggled to build revenue from the product due to supply chain disruption, shut down of manufacturing units and reduced demand from the end-users.
Ribbed Phenolic Cap Market Segment Analysis
The global ribbed phenolic cap market is segmented based on neck diameter, end-user and region.
The increase of packaging solutions in the pharmaceutical business is due to the rising need for liquid pharmaceuticals
The global ribbed phenolic cap market is bifurcated into pharmaceuticals, cosmetics & personal care, beverages, non-carbonated drinks, carbonated drinks, food, household and others (Chemical & Fertilizers, etc.). Out of the mentioned end-users, the pharmaceutical industry has had a major market share for many years. The increase of packaging solutions in the pharmaceutical business is due to the rising need for liquid pharmaceuticals. Over the projected period, the bottle-type packaging of pharmaceuticals is expected to dominate the market. During the forecast period, demand for ribbed phenolic caps is expected to increase due to increased demand for bottles for pharmaceutical packaging. Furthermore, Phenolic caps are recognized to give a desirable range of chemical compatibility and have the highest temperature tolerance of any other plastic closures available on the market due to their chemical composition and design. During the projected period, the worldwide ribbed phenolic caps market is expected to rise at a healthy rate.
Ribbed Phenolic Cap Market Geographical Analysis
Strong expansion in end-use sectors combined with increased disposable income in the Asia Pacific will drive significant demand for ribbed phenolic caps
During the projected period, Asia Pacific is likely to maintain its leadership position in the global ribbed phenolic caps market. In the future years, strong expansion in end-use sectors combined with increased disposable income in the Asia Pacific will drive significant demand for ribbed phenolic caps. Furthermore, in the next years, China is expected to remain a lucrative market for the growth rate and market share of ribbed phenolic caps in the Asia Pacific. In terms of market value and volume, Europe is likely to trail the Asia Pacific and to grow at a robust CAGR over the forecast period. Throughout the projected period, Germany is expected to maintain its dominance in the ribbed phenolic caps market in Europe. In the upcoming years, the pharmaceutical industry's high growth rate will push the rise of ribbed phenolic caps. North America holds a significant share of the global ribbed phenolic caps market and is expected to grow at a significant CAGR over the projected period. In the coming decade, South Asia will see a significant increase in demand for ribbed phenolic caps.
Ribbed Phenolic Cap Market Competitive Landscape
The Ribbed Phenolic Cap market is highly competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth include Pacific Vial, WB Bottle, Feldman Industries, O.Berk, UNITED CAPS, MJS Packaging, Pipeline Packaging, Illing Company., Fillmore Container, Kaufman Container., The Cary Company., J.G Finneran Associates, Inc., Andler Packaging Group, Cincinnati Container., Alameda Packaging., Veritiv Corporation, Tri-Sure, Andon Brush Company, Inc., Southern Container, Ltd and among others. The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the growth of the Ribbed Phenolic Cap market globally.
Overview: In 1910, Osias Berk founded a company that still bears his name. The company was located in Newark, NJ. Its customer base consisted mostly of chemical plants along the Passaic River and ethnic food suppliers, such as pickle packers, in the city's Iron Bound section. With four east coast locations, O.Berk Company offers complete packaging services and solutions to the pharmaceutical, healthcare, cosmetic, personal care, food and beverage, and household and commercial industries, including stock and custom plastic and glass containers, caps, pumps, and sprayers, as well as labeling and decorating services.
The global ribbed phenolic cap market report would provide approximately 53 market data tables, 48 figures, and 250 pages.
Target Audience 2022
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