Market Overview. The plastic caps and closures market was valued at 1584.63 billion units in 2019 and is expected to reach 2049.6 billion units by 2026, at a CAGR of 4.6% over the forecast period 2021 - 2026. Heat induction cap liner could be used on the variety of bottles made up of different plastic materials such as PP, PVC, HDPE etc, which.