World demand for caps & closures to reach $46 billion in 2016!

Recently, an article stated that the world demand for caps and closures is projected to rise 5.3% per year to reach $46 billion in 2016, according to a new study from The Freedonia Group.

The study cites value gains will be supported by raw material price increases and greater use of value-added closures such as dispensing, child-resistant and tamper-evident types.

In terms of materials, plastic will continue to account for the largest share of cap and closure demand and will also see the fastest increases (from Plastics Today).

With this in mind, you can bet that the competition will be fierce and thus controlling costs by controlling processing and productivity will be the key to success when it comes to molding these parts. If you are not operating with the latest in closed loop process control for injection molding, then you better investigate quickly to stay not just with, but ahead of the pack.