The burgeoning requirement for metalized caps and closures in the cosmetics industry and soaring need for foods and beverages, especially in developing countries, on account of the rising disposable income of people, are the major factors driving the demand for UV metalized caps and closures across the world. As these caps and closures are used extensively in the food and beverage sector, the expansion of this sector is positively impacting the worldwide sales of these caps and closures, which is, in turn, propelling the progress of the global UV metalized caps and closures market.
Besides, the surging consumption of alcohol is also predicted to fuel the demand for UV caps and closures. For instance, the consumption of alcohol in Australia soared from 9.52 liters per capita during 2014–2015 to 9.70 liters per capita during 2015–2016. Moreover, it rose even more and reached 9.72 liters per capita in 2018. Owing to these factors, the revenue of the UV metalized caps and closures market will grow from $297.0 million in 2017 to $378.9 million by 2023, as per the forecast of the market research firm, P&S Intelligence.
Aluminum and alloy are the two main metallizing materials used in UV metalized caps and closures. Gold, silver, platinum, and chromium are the most widely used metalizing materials. Out of these, the use of aluminum was found to be the highest in these applications, owing to its various beneficial traits, such as low weight, low cost, resistance to corrosion, and similar glossiness to silver. Moreover, aluminum is being increasingly used as a metalizing material in packaging applications in various industries, such as skincare, fragrance, food and beverage, and cosmetics.
Of the two, the demand for these caps and closures was found to be higher in the cosmetics, fragrance, and skincare sector during the last few years, on account of their several unique characteristics, such as the ability to provide premium look and improved durability and ensure the elimination of various surface imperfections, which usually develop during the manufacturing process. Geographically, the sales of UV metalized caps and closures were observed to be the highest in Europe in the past. This was because of the high production capacity and manufacturing cost optimization by manufacturers via low-cost raw material sourcing in the region. Additionally, the demand for these caps and closures is rising sharply in regional countries, such as Poland, Hungary, Slovakia, and Czech Republic.
Hence, it can be safely said that the demand for UV metalized closures will grow sharply in the coming years, primarily because of their rising requirement in the food and beverage sector all over the world.
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