The United States metal fasteners market is likely to grow at 5% CAGR between 2022 and 2032, creating an incremental opportunity of USD 2.7 billion by the end of 2032. The fasteners market is expected to of metal in India to grow at a CAGR of 6.8%. Most sales of metal enclosures will remain concentrated in food & Beverage sector
, /PRNewswire/ — According to FMI, the global market for metal fasteners is expected to grow from $28.4 billion in 2022 to $50.8 billion in 2032, with global sales increasing around of 6% CAGR during the forecast period.
Increasing demand for metal enclosures from various end-use industries such as food & beverages, pharmaceuticals, cosmetics & personal care etc. is a key factor driving the growth of the global market.
Sales of metal closures are expected to increase due to increased demand for sustainable and easy-to-open packaging, increased consumption of packaged food and beverages, and rapid economic growth.
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Metal closures are commonly used in food & beverage segment for carbonated beverages, bottled water, ketchup and spirits, among others. Caps and closures improve the shelf life of items, protect them from dirt and moisture, and keep the oxygen concentration of the packaged product balanced. They have durability and strength along with excellent adhesion that acts as a utility for numerous end-use industries.
With the growing need for caps and closures, import and export have become more important. Owing to the continuous expansion of numerous important end-use sectors, the global metal enclosure market is expected to grow rapidly in the coming years.
In the coming years, increased consumer demand for bottled water will increase the need for tamper-proof caps and closures. The boom in the bottled water market is driven by changes in lifestyles and per capita consumption.
The demand for metal enclosures is increasing particularly in regions such as North America and East Asia due to increased production and consumption of packaged food and beverages, easy availability of metal enclosures at lower costs and the growing popularity of aluminum metal enclosures.
Key points of the global metal enclosures market
“Increasing demand for packaged food and beverages is leading to global metal closures with significant market opportunities as they extend the shelf life of products,” says the FMI analyst.
Major manufacturers of metal closures include Nippon Closures Co. Ltd, Crown Holdings, Inc., Closure Systems International, Amcor plc, Tri-Sure Packaging, Silgan Containers LLC, SACMI, METAL CLOSURES PVT. LTD., Canpack, Kotopack, Actega, Viscose Closures Ltd, Peliconi, Sks Bottles & Packaging Inc, Guala Closure Group and others.
These players are constantly updating their product portfolio by launching new products with better features. In addition to this, they are investing in R&D and partnering and collaborating with end-use industries to increase their sales.
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Food and beverage is the key driver of the global metal enclosures market
The market for metal enclosures is expanding rapidly due to factors such as increasing demand from the food and beverage segment due to its protective qualities. In addition, the demand for metal caps and closures is expected to increase in the coming years due to the increasing use of metal closures in food packaging and their distinctive ability to improve shelf life.
Beverage packaging is one of the most important end-use sectors for metal closures. Beverage packaging is used to preserve the flavor and texture of beverages while extending their shelf life. Bags and cartons are two recent packaging innovations that are gaining popularity. The search by beverage companies for new and distinctive closures is driving the market for premium lids in the beverage segment. Many types of caps and closures can be used to seal or package non-alcoholic beverages. Plastic, metal, glass and rubber covers and closures are just some of the alternatives.
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Substantial use of aluminum material is driving the market demand for metal enclosures
The aluminum material segment has witnessed the highest value in the metal enclosures segment. Aluminum enclosures are cost-effectively manufactured and offer a variety of designs. They offer a seamless way to open and re-close products and can be reused for different purposes. Aluminum enclosures have a strong adaptability and also extend the useful life of the product. It helps to maintain the same quality of the product even after long storage.
Therefore, aluminum is expected to witness significant market growth during the forecast period 2022-2032.
Global Metal Enclosures Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global metal enclosure market by material type (aluminum, tin, stainless steel and copper), by type of production process (injection molding, injection molding compression), for end use (food). & Beverages, consumer goods, personal care and cosmetics, household care, pharmaceuticals, other (chemicals, agricultural products, etc.), by region (North America, Latin America, Europe, South Asia, East Asia, East Middle and Africa, Oceania) – Forecast for 2022-2032.
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1.1. Global market outlook
1.4. Analysis of the technological roadmap
1.5. Analysis and recommendations
2.1. Market coverage / Taxonomy
2.2. Market definition / scope / limitations
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