Global Plastic Straps Market Size To Worth USD 12.84 Billion By 2033 | CAGR Of 15.27%
Category: Chemicals & MaterialsGlobal Plastic Straps Market Size To Worth USD 12.84 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Plastic Straps Market Size is to Grow from USD 3.10 Billion in 2023 to USD 12.84 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 15.27% during the projected period.
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Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the report on the "Global Plastic Straps Market Size, Share, and COVID-19 Impact Analysis, By Type (Polyester, Polypropylene, Nylon, Paper, Composite, and Corded & Woven Straps), By Application (Wood, Paper, Food & Beverage, Textiles, and Others), By End User Industry (Industrial Logistics & Warehouse, Food & Beverage, Corrugated Cardboard, Paper, Building & Construction, Metal, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/plastic-straps-market
Plastic strapping is a banding material with a high tensile strength that gets used in a wide range of packaging applications, such as bundling, securing plastic totes, carton closing, and combining items that are both palletized and unpalletized for in-plant transfer and shipment. Plastic strapping is less expensive, requires less material, can be recycled, and offers a unique combination of great strength and flexibility. Straps made of plastic are moisture-resistant and function well in a range of temperatures. UV-stable grades of plastic strapping are available for temporary outdoor storage when extended environmental stability is necessary. Rising housing costs and more accessible, lightweight plastic strap options are anticipated to be major drivers of the plastic strap market over the forecast period. Furthermore, the market is anticipated to rise in revenue due to the expanding packaging sector and the increasing need for plastic straps in e-commerce, online delivery, and heavy material transportation across a variety of industries, including supply chain, manufacturing, construction, and logistics. Plastic straps are becoming more and more necessary for carrying products and other objects owing to the recent trend of online shopping and the development of new online shopping platforms. Furthermore, the low weight, high flexibility, and ease of handling of plastic straps are some of the factors propelling global demand for these straps. However, several countries are expanding their recycling capabilities to address environmental issues, this development is anticipated to impede the expansion of the plastic straps market's revenue.
The polyester segment is anticipated to hold the greatest share of the global plastic straps market during the projected timeframe.
Based on the type, the global plastic straps market is divided into polyester, polypropylene, nylon, paper, composite, and corded & woven straps. Among these, the polyester segment is anticipated to hold the greatest share of the global plastic straps market during the projected timeframe. Owing to its many advantages, which include excellent elongation, resistance to chemicals, rustproof, raised tensile strength, improved flexibility, lightweight, and ease of handling. Polypropylene also improves the product's security and aesthetic appeal. Furthermore, it can be utilized with any type of strapping apparatus, including automatic and semi-automatic systems, and it maintains its stability in the face of temperature fluctuations between -10 and +50 C. Polypropylene is a commonly recyclable and environmentally friendly replacement.
The wood segment is anticipated to grow at the fastest pace in the global plastic straps market during the projected timeframe.
Based on the application, the global plastic straps market is divided into wood, paper, food and beverage, textiles, and others. Among these, the wood segment is anticipated to grow at the fastest pace in the global plastic straps market during the projected timeframe. Owing to this, plastic straps are less expensive than traditional materials like metal, they can be used in industrial situations where wood is frequently used and cost-effectiveness is crucial.
The industrial logistics & warehouse segment is predicted for the largest revenue share in the plastic straps market during the estimated period.
Based on the end-user industry, the global plastic straps market is divided into industrial logistics & warehouse, food & beverage, corrugated cardboard, paper, building & construction, metal, and others. Among these, the industrial logistics & warehouse segment is predicted for the largest revenue share in the plastic straps market during the estimated period. Strapping is securing, holding, supporting, or reinforcing an object with a strap attached. Some names for it are bundling and banding. Strapping is most commonly used in the packaging industry. Given the importance of packaging in industrial transportation and storage, plastic straps are becoming more and more essential in this sector. Plastic strapping can be utilized for outdoor storage because UV-stable grades are available for further environmental resilience. This is outperforming comparable items in popularity owing to its cost-saving features and effective operation.
North America is expected to hold the largest share of the global plastic straps market over the forecast period.
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North America is expected to hold the largest share of the global plastic straps market over the forecast period. The need for plastic straps in this industry is rising as the use of plastic packaging materials makes long-distance transportation of bulky items more environmentally friendly. By increasing public awareness, packaging manufacturers are being driven to produce sustainable bioplastic. Both the growth of better logistics and the increased interest in the packaging industry are supported by this field. The entry of new big companies accelerates the growth of the plastic straps industry.
Asia Pacific is predicted to grow at the fastest pace in the global plastic straps market during the projected timeframe. Plastic straps are becoming more and more popular as a way to move products around due to the growing e-commerce industry, people's desire to purchase things online, and home delivery. Packaging manufacturers aim to expand both their global presence and clientele to meet the needs in this sector.
Major vendors in the Global Plastic Straps Market include Auto Strap India, CORDSTRAP BV, Crown Holdings Inc., Cyklop International, DuBose Strapping Inc., Duravant LLC, HANGZHOU YOUNGSUN INTELLIGENT EQUIPMENT CO. LTD., LINDER GmbH, Mitsubishi Chemical Group Corp., Mosca GmbH, PAC Strapping Products Inc., Plastex Extruders Ltd., Ruparel Polystrap Pvt. Ltd., S.K. INDUSTRIES INDORE, Samuel Son and Co. Ltd, and Others.
Recent Developments
- In April 2022, Austria-based packaging company, Teufelberger announced the acquisition of Poland-based packaging company, Maillis Plastics Solutions to expand the business process and for increasing a larger customer base accordingly. This acquisition further aims at expanding the plastics processing division and secures high performance of strapping capabilities.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Plastic Straps Market based on the below-mentioned segments:
Global Plastic Straps Market, By Type
- Polyester
- Polypropylene
- Nylon
- Paper
- Composite
- Corded & Woven Straps
Global Plastic Straps Market, By Application
- Wood
- Paper
- Food & Beverage
- Textiles
- Others
Global Plastic Straps Market, By End-user Industry
- Industrial Logistics & Warehouse
- Food & Beverage
- Corrugated Cardboard
- Paper
- Building & Construction
- Metal
- Others
Global Plastic Straps Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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