Latin America Metal Caps And Closures Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.15 Billion |
| Market Size (2029) | USD 2.43 Billion |
| CAGR (2024 - 2029) | 2.45 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Metal Caps And Closures Market Analysis
The Latin America Metal Caps And Closures Market size is estimated at USD 2.15 billion in 2024, and is expected to reach USD 2.43 billion by 2029, growing at a CAGR of 2.45% during the forecast period (2024-2029).
- Metal closures extend shelf-life while retaining the packaged products' taste, flavour, and texture. They also offer leak-proof and contamination-resistant features. Hence, metal closures play a vital role in driving visual appeal, brand differentiation, and convenience for consumers. Metal closures find application in various end-user industries, such as food, beverages, and pharmaceuticals.
- The rapidly growing pharmaceutical production in the region and the regulatory changes further favour child-resistant, value-added, and senior-friendly closures, which are anticipated to drive the market in the foreseen period. Further, the growing use of child-resistant and tamper-evident metal caps and closures has gained huge popularity in the market, which has encouraged manufacturers to produce superior-quality metal caps and closures.
- The recyclability factor of metal packaging drives the increase in the adoption of metal closures over plastic closures. Also, materials used in metal packaging, like aluminium and steel, are the two most robust raw materials for packaging solutions like caps and closures, owing to the superior recycling infrastructure.
- For instance, Crown Holdings, Inc. achieved certification from the Aluminium Stewardship Initiative (ASI) for its Mexican beverage packaging operations as part of its ongoing efforts to meet its sustainable sourcing goals.
- The ASI Performance Standard assesses and confirms the ethicality of metal packaging production activities, and Crown Mexico has been verified for responsible production, sourcing, and stewardship of aluminum.
- This achievement highlights Crown's commitment to operating as a responsible organization worldwide and achieving the objectives of its ambitious Twentyby30 sustainability program.
Latin America Metal Caps And Closures Market Trends
Considerable Portion of the Market is Anticipated to be Held by Aluminium.
- Aluminum caps and closures are more sturdy and stable for packaging than other materials. These caps come in various styles and sizes, and their market demand is likely to be driven by factors such as product safety, uniqueness, and branding. Additionally, the market is expected to grow due to increased demand for smaller packaging sizes and convenience.
- Moreover, aluminum closures create a highly effective barrier without affecting the product’s taste and smell. All materials used in aluminum closures are perfectly neutral from an organoleptic point of view, helping to prevent taste, color, and other changes that occur in drugs.
- Additionally, insulin shots, syringes, and injection pens are increasing with the increase in the diabetic population across the region. This further drives the use of aluminum caps in syringe nozzles, vials, and other cartridges.
- Increasing environmental policies and a growing focus on recycling is augmenting the need for the material, while the focus of companies on improving the eco-friendly brand image is further expanding the growth of the aluminum segment of the market studied.
- The leading nations in primary aluminium production in South America are Brazil, Argentina, and Venezuela. In the past, Venezuela held the dominant position in the industry, but currently, Argentina and Brazilian companies have taken over with greater production capacity. Considerable advancements in manufacturing techniques and changing consumer needs are expected to open new opportunities to the aluminum segment of the market studied during the forecast period.
Brazil is Expected to Hold a Significant Share in the Market
- Aluminum caps and closures are becoming increasingly popular in the beer bottle packaging industry. This is due to its excellent barrier properties, which help prevent oxygen and other gases from entering the bottle and affecting the quality of the beer. Another advantage of aluminum caps is their ability to be easily customized with branding and design elements, making them an attractive option for breweries looking to differentiate their products on store shelves. Additionally, aluminum is a highly recyclable material, making it an environmentally friendly choice for beer bottle packaging.
- The demand for beverage caps and closures has been rising in Brazil, primarily due to the widespread consumption of beer and other alcoholic drinks. As per the Brazilian Institute of Geography and Statistics, beer accounted for the highest sales volume of alcoholic beverages in Brazil in 2022. In the same year, the total sales volume of alcoholic beverages was just under 15 billion liters, out of which approximately 13.2 billion liters (more than 88 percent of the total sales volume) were attributed to beer sales. The sales of spirits in the country amounted to 1.1 billion liters in 2022.
- Additionally, global beverage producers are building new expansion facilityies to increase their presence in Brazil and capture a substantial portion of the expanding market. For instance, in May 2023, Heineken NV, a leading brewer across the globe announced its plan to invest BRL 1.5 billion (USD 300.8 million) in Brazil as part of a strategy to expand the portfolios of its premium and single malt beers. According to the firm, Brazilian beer drinkers are among the biggest Heineken customers worldwide. This is further driving the demand for metal caps and closures in the region.
Latin America Metal Caps And Closures Industry Overview
The Latin America metal caps and closures market is fragmented due to the presence of several domestic and global manufacturers. Some of the key players in this market are Crown Holdings, Inc., Guala Closures S.p.A, Sonoco Products Company, Can-Pack S.A., and Silgan White Cap Brasil, amongst others. Intense competition prevails in the market regarding product differentiation, portfolio, and pricing. The rising demand for alcoholic beverages in the region along with value-added closures and tamper resistance properties will augment the usage of metal caps and closures in various segments.
- June 2024: Novelis Inc., a leading supplier of environmentally friendly aluminum products, completed one succesful year of entering into a long-term agreement with Coca-Cola Bottlers' Sales & Services Company ("CCBSS"), the contracting agent for The Coca-Cola Company's authorized North American bottlers. According to the agreement, Novelis will provide aluminum can sheets for The Coca-Cola Company's family of well-known brands to its authorized North American bottlers.
Latin America Metal Caps And Closures Market Leaders
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Crown Holdings, Inc.
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Guala Closures S.p.A
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Can-Pack S.A.
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Sonoco Products Company
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Silgan White Cap Brasil
*Disclaimer: Major Players sorted in no particular order
Latin America Metal Caps And Closures Market News
- May 2024: Triple M Metal LP, a leading privately-owned ferrous and non-ferrous metal recycling company in North America, is set to expand its operations in Ramos Arizpe, Mexico. This move aims to capitalize on emerging market opportunities, streamline the company's supply chain, and underscore Triple M Metal's dedication to fulfilling the rising demand for ferrous and non-ferrous metals.
- January 2024: Sonoco, a multinational packaging firm, completed one year of its inauguration a new manufacturing facility in Resende, Brazil, to make steel easy-open closures for use on metal cans. The factory is expected to have a capacity of more than one billion closures each year. The Sonoco Phoenix business unit of the company's Resende factory, which is located geographically between Sao Paulo and Rio de Janeiro, has easy access to vital supply hubs and ports. The factory will cater to the Latin American market and act as Sonoco's export hub for global markets.
Latin America Metal Caps And Closures Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Demand for Innovative Solutions from Various End Users
5.1.2 Superior Properties Compared to Other Closure Materials
5.2 Market Restraint
5.2.1 High Adoption Rate of Other Types of Closure Materials
6. MARKET SEGMENTATION
6.1 By Material Type
6.1.1 Aluminium
6.1.2 Steel
6.1.3 Tin
6.2 By Closures Type
6.2.1 Crown Caps
6.2.2 Screw Caps
6.2.3 Twist Metal Caps
6.2.4 Others (Easy Open Ends, ROPP Metal Caps)
6.3 By End-User Industry
6.3.1 Food
6.3.2 Beverages
6.3.2.1 Alcoholic
6.3.2.2 Non-Alcoholic
6.3.3 Pharmaceuticals
6.3.4 Personal Care
6.3.5 Other End-User Industries
6.4 By Country
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Mexico
7. Competitive Landscape
7.1 Company Profiles
7.1.1 Crown Holdings, Inc.
7.1.2 O.Berk Company
7.1.3 Guala Closures S.p.A
7.1.4 ACTEGA (A member of ALTANA)
7.1.5 Silgan White Cap Brasil
7.1.6 Sonoco Products Company
7.1.7 Amcor PLC
7.1.8 Can-Pack S.A.
7.1.9 Trivium Packaging
- *List Not Exhaustive
7.2 INVESTMENT ANALYSIS
7.3 FUTURE OUTLOOK OF THE MARKET
Latin America Metal Caps And Closures Industry Segmentation
Caps and closures made from metals like aluminum, steel, and tinplate are crucial in sealing containers like bottles, jars, and tubes. These protective components ensure the products' safety, integrity, and longevity by providing a strong barrier that prevents contamination, spoilage, and leakage.
The latin america metal caps and closures market is segmented by material type (aluminium, steel, tin), closures type (crown caps, screw caps, twist metal caps, others (easy open ends, ropp metal caps)), end-user industry (food, beverages (alcoholic, non-alcoholic), pharmaceuticals, personal care) and country (Brazil, Argentina, Mexico, Rest of Latin America). The report offers market sizes and forecasts in value (USD) for all the above segments.
| By Material Type | |
| Aluminium | |
| Steel | |
| Tin |
| By Closures Type | |
| Crown Caps | |
| Screw Caps | |
| Twist Metal Caps | |
| Others (Easy Open Ends, ROPP Metal Caps) |
| By End-User Industry | ||||
| Food | ||||
| ||||
| Pharmaceuticals | ||||
| Personal Care | ||||
| Other End-User Industries |
| By Country | |
| Brazil | |
| Argentina | |
| Mexico |
Latin America Metal Caps And Closures Market Research FAQs
How big is the Latin America Metal Caps And Closures Market?
The Latin America Metal Caps And Closures Market size is expected to reach USD 2.15 billion in 2024 and grow at a CAGR of 2.45% to reach USD 2.43 billion by 2029.
What is the current Latin America Metal Caps And Closures Market size?
In 2024, the Latin America Metal Caps And Closures Market size is expected to reach USD 2.15 billion.
Who are the key players in Latin America Metal Caps And Closures Market?
Crown Holdings, Inc., Guala Closures S.p.A, Can-Pack S.A., Sonoco Products Company and Silgan White Cap Brasil are the major companies operating in the Latin America Metal Caps And Closures Market.
What years does this Latin America Metal Caps And Closures Market cover, and what was the market size in 2023?
In 2023, the Latin America Metal Caps And Closures Market size was estimated at USD 2.10 billion. The report covers the Latin America Metal Caps And Closures Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Metal Caps And Closures Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Metal Caps And Closures Industry Report
Statistics for the 2024 Latin America Metal Caps And Closures market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Metal Caps And Closures analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
