Global Plastic Strap Market, by Type (Nylon Straps, Polypropylene Straps, Polyester Straps), By End-use (Fiber, Bricks & Tiles, Cotton, Paper, Steel), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa); Trend Analysis, Market Share & Outlook, 2016-2026
- Published Date: August 2020
- Report ID: BWC20110
- Available Format: PDF
- Page: 0
Global Plastic Strap Market– Market Outlook & Trends
The increasing mindfulness among consumers concerning sustainable and environment-friendly packaging calls for ecofriendly packaging. Customers also expect advanced designs from manufacturers of corrugated cardboard and paper, which will finally increase its strap usage over the estimated period. However, these materials cannot save products from damage arising from rain, frost, or humidity. It may pose a challenge to the development of this segment.
There has been an increase in demands for consumer electronics, medical devices, household appliances, pharmaceutical products, and textile goods, which is estimated to result in an increase in requests for high material (like plastic strap) as an appropriate packaging material. Development in mail orders and the logistics business, along with the growth of the e-commerce industry, is anticipated to boost the request for high-quality materials.
The extensive use of plastic straps in various industries due to their lightweight and cost-effectiveness drives the development of the plastic straps market across the globe. Furthermore, the rising demand for plastic straps from major markets such as India and China is also contributing to the growth of the plastic straps market. However, the use of plastic straps is not eco-friendly and insufficient measures for their waste management may restrain the market opportunities across the globe.
Global Plastic Strap Market – Overview
Plastic straps are used for hustling or banding. Bundling or banding is a procedure of applying straps to attach steadfast, hold, strengthen, or fasten an item. The straps are also referred to as strapping. Earlier steel strapping was used for heavy products for bundling, but the innovative plastic straps possessing high tensile strength is becoming popular as packaging material. Plastic straps are widely used in the packaging industry. Plastic straps allow the transfer of goods without any damage from manufacturing facilities to end-users or the market place. Plastic straps are deployed for various purposes in diverse industries such as building & construction, glass, food & beverages, agriculture, and textile. The use of plastic straps is increasing, owing to its lightweight and low cost.
Ø The Flourishing Newspaper and Graphics Segment in Emerging Economies
In developing economies, the newspaper and graphics segment has been growing due to expansion in the manufacturing and volume of various magazines and print commercials. It can be attributed to a rise in the number of pages in a newspaper on specific occasions and rapid suburbanization. Newspapers and magazines are frequently used in the packaging industry, and this can subsequently surge the acceptance of strapping materials in the newspaper and graphics application segment.
Ø Raising Awareness among Consumers
There is increasing awareness among customers concerning supportable and environment-friendly packaging. Consumers also expect inventive designs from manufacturers of corrugated cardboard and paper, which will finally boost the use of straps over the prediction period. However, these materials cannot protect foodstuffs from damage resulting from rain, frost, or moisture, and this may pose a challenge to the development of this segment.
Ø The Rise in Demand for Consumer Electronics
There has been a rise in demand for consumer electronics, household appliances, pharmaceutical products, medical devices, and textile goods leading to the increased demand for high material as a proper packaging material. Substantial development in mail orders and the logistics business, along with an expansion of the e-commerce industry, is projected to an advance the demand for plastic strapping materials.
Global Plastic Strap Market: Segmentation
The global plastic straps market can be segmented on type, end-use industry, and region.
In terms of type, the plastic straps market can be divided into nylon, polyester, polypropylene, and others. Polypropylene straps offer high stretchy conflict, flexibility, and corrosion resistance. These straps are more cost-effective and lighter in weight than the straps made from other materials. Polypropylene straps offer excellent elongation at break, and they can be printed during or after their manufacture providing a marketing benefit to plastic strap manufacturing companies. It, in turn, is predicted to drive the polypropylene segment during the prediction period.
Based on the end-use industry, the plastic straps market can be segregated into paper, steel, bricks & tiles, logistics, fiber, cotton, corrugated boxes, and others. The Paper and logistics sections are estimated to hold a large share of the market. Growth in the logistic, packaging, and construction industries is expected to push the plastic straps market.
Geographically, the Global Plastic Strap Market is separated into North America, Europe, Asia-Pacific, and LA, MEA regions. Rise in the request for electronics goods, development in the construction industry, and surge in the population are projected to boost the transport of goods. It is likely to drive the plastic straps market in the Asia Pacific during the projection period. Moreover, a large number of multinational companies are participating in the manufacturing sector in an emerging country like India, increasing demand for plastic straps In the Indian market.
Global Plastic Strap Market: Regional insights
The food & beverage industry is rising at a fast pace in North America. It, in turn, is anticipated to increase the demand for plastic straps during the projection period. The surge in demand for electronics goods, development in the construction industry, and an increase in the population are estimated to enhance the conveyance of goods. It is likely to drive the plastic straps market in the Asia Pacific throughout the prediction period.
Furthermore, a large number of multinational companies are investing in the manufacturing sector in developing countries like India, which again pushed the demand for plastic straps in the Indian market. China also emphasizes on the development of various industrial areas in forthcoming years. Such developments brighten the prospects of the plastic straps market in the region, especially in India and China and, reassures growth at a considerable pace throughout prediction time. The expansion in logistics and manufacturing industries in the Middle East and countries in North Africa is likely to increase the demand for plastic straps and, may propel the plastic straps market in Middle East & Africa during the forecast period.
The key players in the market are Crown Holding Inc, Polychem Corporation, FROMM Holding, Teufelberger Holding AG, PAC Strapping Products, Inc, Auto Strap India, and LINDER GmbH, and Cyclop Nederland B.V and some others.
Growing logistics is an indication of booming economic activity and a growth driver for any packaging material. As per the World Bank report (2016) on the Logistics Performance Index of 160 countries, Germany was the top performer with annual revenue in the logistics business amounting to approximately USD 279.22 billion.
Based on type
Ø Nylon Straps
Ø Polypropylene Straps
Ø Polyester Straps
Based on End Use
Ø Bricks & Tiles
Ø North America
Ø Asia Pacific
Ø South America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and estimate the Global Plastic Strap Market size, in terms of value.
Ø To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Global Plastic Strap market into North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries
Ø To outline, categorize and project the Global Plastic Strap Market based on the Type, End-use and Region.
Ø To study competitive developments like technological advancement, services, and regulatory framework within the Global Plastic Strap Market.
Ø To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
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