What are the historical size and the present size of the UV Metallized Caps and Closures Market segments and their future potential?


Posted January 8, 2020 by devanshuraizada

The increasing demand for ultraviolet (UV) metallized caps and closures from various industries, such as cosmetics, fragrance and skin care, and food and beverages, is accelerating the UV metallized caps and closures market.
 
The increasing demand for ultraviolet (UV) metallized caps and closures from various industries, such as cosmetics, fragrance and skin care, and food and beverages, is accelerating the UV metallized caps and closures market. In 2017, the market generated a revenue of $297.0 million, and it is predicted to progress at a CAGR of 4.2% during the forecast period (2018–2023). Those caps and closures that have a UV-curable coating are referred to as UV-metallized caps and closure; these are used in the packaging of cosmetic products.

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Based on metallizing material, the UV metallized caps and closures market is majorly acategorized into aluminum and alloy. Of the two, during the historical period (2013–2017), the aluminum category made a revenue contribution of more than 80.0% in the market, and it is expected to continue leading it during the forecast period. This is ascribed to the increasing mining of the metal and consistency in its prices in the commodity sector. This metal offers several benefits, such as lightness, low cost, corrosion resistance, and a glossiness matching that of silver.

As per L’Oreal’s annual report of 2016, the cosmetic niche witnessed an average progress rate of 4.0% and is predicted to continuously grow during the forecast period, owing to the accelerating sales of cosmetic products. In 2017, the rise in UV-metallized cap and closure production for compacts and lipstick cases had surpassed other applications within the cosmetics industry. Due to these factors, the excessive need for UV-metallized caps and closures in the fragrance, cosmetic, and skincare product packaging sector is driving the growth of the UV metallized caps and closures market.


On the basis of plastic type, the UV metallized caps and closures market is majorly classified into acrylonitrile butadiene styrene (ABS) and polypropylene. Of the two, in 2017, the polypropylene classification led the market with a revenue contribution exceeding 70.0%, and it is anticipated to thrive more during the forecast period. This larger share is ascribed to the several benefits of polypropylene, such as high flexural strength, low cost, thermal resistance, and chemical resistance against cosmetic ingredients.

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The deployment of the vacuum metallizing technology at the time of manufacturing such caps and closures is gaining traction in the UV metallized caps and closures market. The method aids in designing a look similar to those caps and closures which undergo the electroplating process. This metallization technique is adopted to replace the electroplating method, which is comparatively expensive for decorating and packaging of reflectors, toys, and point-of-purchase machine displays. Furthermore, the new technique is an eco-friendly process, leading to reduced emission of low-volatile organic compounds; it also creates a fine metallic layer with superior adhesion properties and quality.

The UV metallization process for closures and caps provides a better resistance against minute damages that may occur during the heating process. Cosmetic companies demand different metallized caps and closures to make their products, such as hair color, lipsticks, and fragrances, look more attractive and gain customer attention. It further helps cosmetics organizations target high-end consumers and charge higher prices. The changing consumer preference for beauty products is one of the main reasons behind the surging sales of metallized caps and closures.

Hence, the advents of the new vacuum metallizing technology and increasing demand for UV-metallized caps and closures from different industries are expected to help the market advance during the forecast period.
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Issued By Devanshu Shrivastava
Country United States
Categories Business
Tags uv metallized caps and closures market , uv metallized caps and closures market share , uv metallized caps and closures market size , uv metallized caps and closures market trends
Last Updated January 8, 2020