Fintech PR
Aluminium Screw Caps Market Size to Grow USD 1448.3 Million by 2030 at a CAGR of 4.1% | Valuates Reports
BANGALORE, India , Oct. 7, 2024 /PRNewswire/ — Aluminium Screw Caps Market is Segmented by Type (< 20 mm, 21-40 mm, 41-60 mm, 61-80 mm, 81-100 mm), by Application (Alcoholic Beverages, Non-Alcoholic Beverages, Medicine, Pesticide, Veterinary Medicine): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Aluminium Screw Caps Market was valued at USD 1097 Million in 2023 and is anticipated to reach USD 1448.3 Million by 2030, witnessing a CAGR of 4.1% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Aluminium Screw Caps Market:
The Aluminium Screw Caps Market is experiencing significant growth due to increasing demand in industries such as beverages, pharmaceuticals, and cosmetics. Aluminum screw caps are favored for their durability, tamper-evident properties, and recyclability, making them an eco-friendly packaging solution. The rise in premium alcoholic beverages, growing consumption of bottled products, and the expanding pharmaceutical industry are major drivers. In addition, the trend toward sustainable packaging and the convenience of resealable aluminium caps further bolster the market’s expansion, particularly in regions like Europe, North America, and the Asia-Pacific.
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TRENDS INFLUENCING THE GROWTH OF THE ALUMINIUM SCREW CAPS MARKET:
Aluminium screw caps in the 21-40 mm size range are widely used in various industries, especially for medium-sized bottles and containers. These caps offer enhanced sealing properties and tamper-evident features, making them ideal for packaging products like wine, spirits, and non-carbonated beverages. Their versatility and compatibility with different bottle types have led to increased demand. Additionally, manufacturers are focusing on recyclable and eco-friendly packaging materials, which further boost the demand for aluminium screw caps in this size category.
Aluminium screw caps with a size of less than 20 mm are primarily used in pharmaceutical, cosmetic, and small beverage bottles. Their compact size and high durability make them ideal for secure packaging of liquids and gels. As the pharmaceutical and cosmetics industries continue to grow, driven by increasing consumer demand and rising healthcare needs, the need for reliable and tamper-evident packaging solutions such as aluminium screw caps has surged, contributing to the market’s overall expansion.
The alcoholic beverages sector is a key driver of the aluminium screw caps market. With the rise in premium alcohol consumption and the preference for eco-friendly and convenient packaging solutions, aluminium screw caps have gained popularity over traditional corks and plastic caps. These caps provide excellent sealing, ensuring the freshness and quality of the beverage, while also offering easy resealability. The increasing global demand for wine, spirits, and other alcoholic drinks is propelling the growth of the aluminium screw caps market.
Aluminium screw caps are gaining popularity due to their recyclability and alignment with the growing trend toward sustainable packaging. As consumers and industries become more environmentally conscious, the demand for eco-friendly packaging solutions has increased. Aluminium is a highly recyclable material, and manufacturers are leveraging this attribute to market screw caps as a sustainable alternative to plastic closures. This shift toward sustainability is driving the growth of the aluminium screw caps market, as industries seek to reduce their environmental impact.
The wine and spirits industry has traditionally used corks for sealing bottles, but aluminium screw caps are becoming a preferred choice due to their convenience, reusability, and ability to preserve the quality of beverages. Unlike corks, screw caps prevent oxidation and spoilage, making them ideal for wines meant to be consumed within a short period. The growing global consumption of wine and spirits, particularly in emerging markets, is fueling the demand for aluminium screw caps, contributing to the market’s expansion.
The pharmaceutical industry’s need for tamper-evident and secure packaging solutions is a major driver for the aluminium screw caps market. Aluminium caps offer superior sealing and are widely used in packaging medicines, liquid syrups, and other pharmaceutical products. With the global pharmaceutical industry expected to witness strong growth due to rising healthcare demands and the increasing prevalence of chronic diseases, the demand for secure and reliable packaging solutions like aluminium screw caps is set to rise.
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ALUMINIUM SCREW CAPS MARKET SHARE:
The Aluminium Screw Caps Market shows notable regional variations in demand, driven by industry presence and consumer preferences. In Europe, the market is strong due to the well-established wine and spirits industry, along with a growing focus on sustainable and recyclable packaging. North America follows closely, with high demand in the alcoholic beverages and pharmaceutical sectors.
Asia-Pacific is witnessing rapid growth, particularly in emerging economies like China and India, due to expanding beverage, pharmaceutical, and cosmetic industries.
Key Companies:
- Closure Systems International (CSI)
- RMD Group
- Guala Closure Group
- Herti
- Unifol Ltd.
- Pirlo Group
- MALA Closure Systems
- Tecnocap
- Berry Global
- Amcor Limited
- Hon Chuan Group
- Shining Aluminium Packaging
- Daye Guoguan Bottle Caps Manufacturing
- Canzhou Xingchem Glass Product
- Elemental Container Inc
- Shandong Lipeng
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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