Global Plastic Straps Market Insights Forecasts to 2033

• The Global Plastic Straps Market Size was Valued at USD 3.10 Billion in 2023
• The Market Size is Growing at a CAGR of 15.27% from 2023 to 2033
• The Worldwide Plastic Straps Market Size is Expected to Reach USD 12.84 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Plastic Straps Market Size is Anticipated to Exceed USD 12.84 Billion by 2033, Growing at a CAGR of 15.27% from 2023 to 2033.

Market Overview

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 affordable, uses less material, is recyclable, and provides a special blend of high strength and flexibility. Plastic straps work well in various temperatures and are resistant to dampness. When longer environmental stability is required, UV-stable grades of plastic strapping are available for temporary outdoor storage. During the forecast period, the rising housing industry and the lightweight and affordable alternatives to other materials are projected to be key factors driving the growth of the plastic straps market. The market for plastic straps is also expected to increase due to the growing need across several nations and the increasing industrialization and commercialization of emerging economies. Furthermore, bio-based polymers are anticipated to mitigate the market expansion for plastic straps. In addition, the global spike in demand for improved packaging and logistics is driving up the need for plastic straps.

Report Coverage

This research report categorizes the market for the global plastic straps market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global plastic straps market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global plastic straps market.

Driving Factors

The growing packaging industry and rising demand for plastic straps in e-commerce, online delivery, and heavy material transportation across a range of industries, including construction, manufacturing, logistics, and supply chain, are expected to fuel market revenue growth. Due to the recent trend of online shopping and the growth of new online shopping platforms, there is an increasing need for plastic straps for carrying products and other items. Customers are also selecting protective packaging and customized packaging, which is contributing to the growing need for plastic straps due to recyclable packaging materials. The low weight, high flexibility, and ease of handling of plastic straps are some of the elements driving global demand for these straps. Due to additional, highly desirable traits including large elongation characteristics and high tensile strength, these are also helpful in a range of end-use sectors.

Restraining Factors

The demand for PET straps and other plastic strap materials is rising globally in the packaging industry due to their affordability and sustainability. However, as people's awareness of the environment grows, they are attempting to use less plastic to preserve environmental balance, which is reducing the market for plastic straps in the packaging sector. Additionally, as a means of addressing environmental concerns, several nations are developing their recycling capacities, a development that is expected to hamper the market's revenue growth for plastic straps.

Market Segmentation

The global plastic straps market share is segmented into type, application, and end-user industry.

• The polyester segment dominates the market with the largest market share through the forecast period.

Based on the type, the global plastic straps market is segmented into polyester, polypropylene, nylon, paper, composite, and corded & woven straps. Among these, the polyester segment dominates the market with the largest market share through the forecast period. Due to the several benefits, it provides, including great elongation, chemical resistance, rustproofed, elevated tensile strength, enhanced flexibility, lightweight, and simplicity of handling. Furthermore, the product's visual appeal and security are enhanced by polypropylene. Also, as it remains stable in the face of temperature swings between -10 and +50 C, it can be used with any kind of strapping equipment, including automatic and semi-automatic systems. An environmentally favorable substitute is polypropylene and it is frequently recyclable.

• The wood segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the application, the global plastic straps market is segmented into wood, paper, food and beverage, textiles, and others. Among these, the wood segment is anticipated to grow at the fastest CAGR growth through the forecast period. Considering 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 accounted for the largest revenue share through the forecast period.

Based on the end-user industry, the global plastic straps market is segmented into industrial logistics & warehouse, food & beverage, corrugated cardboard, paper, building & construction, metal, and others. Among these, the industrial logistics & warehouse segment accounted for the largest revenue share through the forecast period. Attaching a strap to an object to hold, support, reinforce, or secure it is known as strapping. Banding and bundling are some other names for it. The packing business is where strapping is most frequently utilized. Plastic straps are becoming more and more necessary in this industry since packaging plays a significant role in industrial transportation and storage. Since UV-stable grades are available for further environmental resilience, plastic strapping can be used for outdoor storage. Due to its cost-saving features and efficient performance, this is becoming more and more popular than similar products.

Regional Segment Analysis of the Global Plastic Straps Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global plastic straps market over the predicted timeframe.

North America is projected to hold the largest share of the global plastic straps market over the forecast period. Plastic packing materials are making it more sustainable to transport large things over long distances, which is increasing the demand for plastic straps in this market. Producers of packaging are being encouraged to create sustainable bioplastic by raising public awareness. This area supports the advancement of improved logistics and the rise in interest in the packaging sector. The expansion of the plastic straps market is accelerated by the presence of additional major players. The North American region is crucial to the market's expansion due to the movement of people to cities and the growing trend of using advanced products, which together significantly increase the size of the plastic straps market.

Asia Pacific is expected to grow at the fastest CAGR growth of the global plastic straps market during the forecast period. 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.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global plastic straps market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

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.

• In October 2021, at the PACK EXPO in Las Vegas, Singode introduced the SGP strapping machine series. The new strapping machines from Signode are meant to boost production by imitating a pressured wash-down environment. For cycles without product, the SGP automated machine has a close strap arch system, as well as an automatic strap feeder and automatic strap end ejection.

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, By 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