UV Metallized Caps and Closures Market Size and Future Scope

UV Metallized Caps & Closures Market Size, Share, Growth and Future Scope

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With the rapid urbanization and industrialization, developed and developing countries are witnessing economic growth. This has been reflected in the increase in the global gross domestic product (GDP) per capita from $5,499.151 in 2000 to $11,441.733 in 2019, as per the World Bank. Among many things, this has resulted in the increasing demand for processed food and beverages, which have traditionally been more expensive than unprocessed products, such as fresh agricultural produce. Among the processed food and beverage products witnessing an increasing demand are sauces, condiments, soft drinks, energy drinks, and spices and seasonings.

P&S Intelligence says that the growing food and beverage industry is to be a key factor to propel the ultraviolet metallized caps and closures market from $297.0 million in 2017 to $378.9 million by 2023, at a 4.2% CAGR between 2018 and 2023. This is because UV metallization is widely done on the container and bottle caps and closures used in this industry to guard the metallized layer and mask dents and other imperfections that appear on these components during their manufacturing.

Download report sample at: https://www.psmarketresearch.com/market-analysis/uv-metallizedcaps-and-closures-market/report-sample The surging disposable income is also leading to the rising sales of cosmetics and personal care products. Moreover, people are becoming increasingly aware of their appearance owing to the deepening penetration of the Western culture via fashion and lifestyle magazines and TV shows and social media. A lot of personal care and cosmetic products, including makeup, nail polishes, shaving creams, and facewashes, come in bottles, cylindrical containers, and tubes; hence, the demand for caps and closures is extremely high in this industry.

Presently, the vacuum metallizing technology is rapidly being used on plastic closures and caps, as it creates a look similar to that created by the traditional electroplating process. During the process, the metallizing material is heated in a vacuum till it begins to evaporate. The condensation of the vaporized material leads to its bonding with the plastic cap that keeps rotating inside the vacuum chamber. This is followed by the application of a protective topcoat on the nowmetallized caps and closures. The reason this technology is gaining preference is its cost-effectiveness over the conventional electroplating method.

Moreover, the vacuum metallizing technology is eco-friendly, and its usage leads to lower emissions of volatile organic compounds (VOCs), which are a danger to not only the environment but also humans. As per the Environmental Protection Agency (EPA) of the U.S., VOCs can irritate the nose, throat, and eyes, cause headaches, nausea, and syncope, damage the kidneys, central nervous, system, and liver, and also lead to really severe issues such as cancer! Thus, governments around the world are formulating stringent environmental laws to control the emission of VOCs. Europe has been the most-productive UV-metallized caps and closures market

till now because the materials used for this process are rather cost-effective here. Moreover, the physical vapor deposition (PVD) sputtering process is widely performed in the region, with which the UV-metallizing technology is highly compatible. The demand for UV-metallized caps and closures is rising in Poland, Czech Republic, Hungary, Slovakia, and other relatively underdeveloped countries because of economic growth, which is pushing up the demand for the various materials and systems used for this process.

Browse full report at: https://www.psmarketresearch.com/marketanalysis/uv-metallized-caps-and-closures-market Thus, with the expanding food and beverage, personal care, and cosmetics industries, the requirement for UV-metallized caps and closures will continue to rise.

GLOBAL UV METALLIZED CAPS AND CLOSURES MARKET •

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•

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By Metallized Material o

Aluminum

o

Alloys

By Plastic Type o

Polypropylene

o

Acrylonitrile Butadiene Styrene (ABS)

By Application o

Cosmetics

o

Fragrance and Skincare

o

Food and Beverage

By Region o

North America

o

Europe

o

Asia-Pacific (APAC)

o

Latin America (LATAM)

o

Middle East and Africa (MEA)

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