This projection is based on Freedonia's research, which indicates that cap and closure shipments have enjoyed 3.2% annual growth from 1989 to 1998.
According to the firm, the primary factor driving growth is the move from closureless containers like aluminum beverage cans to plastic and glass containers that require closures. Innovations in closure applications also are supporting gains, such as sports caps with overcaps and aseptic liquid food packaging.
The study indicates that plastic closures will remain the largest and fastest-growing industry segment. This is largely due to plastic containers continually supplanting glass and its corresponding metal closures in applications from beer to baby food, says the study. Metal closures will continue to gain mainly in the export market, as inexpensive Mexican imports capture a greater share of the U.S. market for products like steel crowns, according to the study.
