PET Strap Market: Introduction
PET Polyester Strap is produced from environment protective “Polythene Terephthalate “material or pet chips. Being a substitute of steel strap it is used with manual strapping tool through clip sealing or battery operated pet strap sealing tool. Unlike the traditional strapping method, polyester strapping absorbs shocks and impacts during transportation. PET strap is the commonly used thermoplastic polymer resin in the family of polyester strapping. It is primarily used for transportation of packaging materials, clothing, liquids & foods, building materials, and containers. PET strap is formed by the method, wherein a strap or polyester sheet is put through stretching steps with a specific stretch ratio. Characteristics of PET strap include corrosion-resistance, high shock absorption ability, recyclability, high tensile strength, tear resistance, and elasticity. In terms of long term usage, this strap is highly vigorous and UV light resistant. PET strap is a less expensive alternative to steel strap as it has lower strength packaging requirements.
PET Strap Market: Market Segmentation
Based on type, the PET strap market can be bifurcated into embossed PET strapping and smooth PET strapping. In terms of end-use industry, the market can be segregated into wood industry, paper industry, food & beverage industry, textile industry, and others. The wood industry segment can be further sub-divided into plywood, timber, and others.
PET Strap Market: Overview
Demand for metal sheets, iron rods, film rolls, timbers, cables, and textiles has been increasing at a rapid pace. PET straps are primarily used in transportation these materials from one place to another. They prevent these materials from getting damaged. PET straps are light in weight and cost effective vis-à-vis steel straps. There are factors driving the PET strap market. PET straps are primarily made from recycled PET. Thus, they provide environment-friendly strapping solution.
PET Strap Market: Regional Outlook
In terms of region, North America dominates the PET strap market owing to the rapid expansion in the automobile industry in the region. PET straps are also used on a large scale in the logistics sector in North America. In terms of volume, Europe is also expected to be a key region of the PET strap market in the near future. Asia Pacific is estimated to be a rapidly growing region of the market in terms of volume during the forecast period. Latin America, especially Brazil, is projected to be a significant user of PET strap market in the next few years.
PET Strap Market: Key Players
Major players operating in the global PET strap market are S & K Packaging Industries, North Shore Strapping Inc., Ruparel Polystrap Pvt. Ltd., Consent LLC., Auto Strap India, Linder GmbH, Plastic Extruders Ltd., Narrowtex Pty (Ltd.), and Signor Polymers Pvt. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.