APAC plastic strapping materials market is estimated to account for around half of the global market value share, by the end of 2018

The global market for plastic strapping materials was valued at US$ 1572.2 million in 2017. The market value is projected to expand at a CAGR of 4.8% during the forecast period, 2018-2026.

Plastic strapping are available in different types of materials such as polypropylene, polyester and composite. Plastic strapping materials find application in various industries such as food & beverages, automotive, transportation & logistics, building & construction, textile and others. The consumer products industries such as food, beverages and electronics are expected to witness inclination in terms of CAGR during the forecast period. In plastic strapping materials, polypropylene is most widely preferred strapping material by end-user industries due to easy availability and compatibility for most of the applications. Polyester strapping is used in heavy load applications due to its high breaking strength. Composite strapping is made up of polyester and polypropylene which provides more tenacity and breaking strength to the plastic strapping material. The composite plastic strapping materials market is projected to grow with higher CAGR as compared to other strapping materials during the forecast period. Plastic strapping materials are expected to witness rise in demand owing to its economical availability, easy handling and several other properties, coupled with the increasing demand of unitizing solutions for globally rising manufacturing output.

plastic strapping materials market

APAC plastic strapping materials market is expected to reach to US$ 1181.1 Mn at the end of 2026. The APAC market is projected to expand at a value CAGR of 7.4% during the forecast period, 2018-2026.

APAC plastic strapping materials market include country segment such as China, India, ASEAN, Japan, Australia & NZ and Rest of APAC. China is anticipated to dominate APAC plastic strapping materials market in terms of market share and CAGR during the forecast period. India plastic strapping materials market is the second largest market in APAC and expected to grow by a CAGR around 7%. Japan plastic strapping materials market is expected to show sluggish growth during the forecast period. APAC plastic strapping materials market is expected to reach around half of the global market by the end of forecast period due to rapid growth in manufacturing industries. Composite plastic strapping materials market is projected to grow at the highest pace in terms of CAGR in APAC region during the forecast period. The research and development in plastic strapping materials in APAC region are the key drivers for the market. Polypropylene is anticipated to dominate APAC plastic strapping materials market during the forecast period. Food and beverages industry is expected to dominate the plastic strapping materials market in terms of market share and growth rate.

Drivers and Restraints

Plastic strapping materials market has witnessed continuous growth from past three years owing to an economical and secure unitizing solution for strapping as compared to steel strapping. Due to sharp edges of steel strapping, it is difficult to handle manually and can be hazardous to an individual who is engaged in strapping operation. Plastic strapping materials are easy to handle and can be removed or attached manually. The plastic strapping materials are highly preferred in the food and beverage industry over steel strapping due to the non-corrosive property of plastic strapping materials. Steel strapping can damage the food products due to its corrosive properties. Plastic wrapping films are holding the growth of plastic strapping materials market. Plastic wrapping films secure and unitize the items from dust, moisture and water which is not possible with the use of plastic strapping materials. Production of recycled plastic strapping materials helps to decrease the cost of manufacturing which can provide a competitive edge in the plastic strapping materials market. Most of the industries still use steel strapping as a unitizing application instead of plastic strapping materials due to incapability of withstanding high temperature.

Competitive Landscape

Key players operating in the global market of plastic strapping materials are Samuel, Son & Co., Limited, SIGNODE INDUSTRIAL GROUP, Scientex Berhad, Teufelberger Holding AG, M. J. Maillis group, Hangzhou Youngsun Intelligent Equipment Co Ltd, FROMM Holding AG, GRANITOL akciová spole?nost, Messersi' Packaging Srl Dynaric Inc.

In this report, Transparency Market Research offers an 8-year forecast for the global plastic strapping materials market between 2018 and 2026. In terms of value, the global plastic strapping materials market is expected to expand at a CAGR of 4.8% during the forecast period. The study reveals plastic strapping materials market dynamics in five geographic segments along with market analysis for current market environment and future scenario over the forecast period of the global plastic strapping materials market.

Report Description

This Transparency Market Research report studies the global plastic strapping materials market for the period 2018–2026. The prime objective of this report (plastic strapping materials market) is to offer insights and key market trends pertaining to plastic strapping materials market that are gradually helping transform global businesses.

The global plastic strapping materials market report begins with the executive summary for various categories and their share in the plastic strapping materials market. It is followed by market dynamics and overview of the global plastic strapping materials market, which includes TMR analysis of market drivers, restraints, and trends that are affecting growth of the plastic strapping materials market. Furthermore, to understand the popularity of the plastic strapping materials segment, the attractiveness index and BPS analysis with elaborated insights on the same is provided, which will show the market’s attractiveness based on factors such as CAGR and incremental opportunity. To show the performance of the plastic strapping materials market in each country and region, BPS and Y-o-Y growth analysis is provided.

The global market for plastic strapping materials is segmented by material, application and end use. On the basis of material, global market for plastic strapping materials is segmented into polyester, composite and polypropylene. On the basis of application type, global market for plastic strapping materials is segmented into corrugated boxes, heavy loads, skids & pallets and others. On the basis of end use, the global market for plastic strapping materials is segmented into consumer electronics, building & construction, food & beverages, automotive, textile, transportation & logistics, chemical & fertilizers and other industrial.

The next section of the report highlights the plastic strapping materials market, by region, and provides the market outlook for 2018–2026. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional plastic strapping materials market. Main regions assessed in this report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). The report (global plastic strapping materials market) evaluates the present scenario and growth prospects of the regional plastic strapping materials market for 2018–2026.

To ascertain the market size in terms of value and volume, revenue generated by the key manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the plastic strapping materials market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the  plastic strapping materials market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the plastic strapping materials market and identify the right opportunities across the market.

The global market size for plastic strapping materials was tracked from the production capacities for key manufacturers of plastic strapping materials across the world. The penetration of plastic materials in the global plastic strapping materials market was calculated accordingly. The same was validated through bottom-up approach.

The market segment for global plastic strapping materials market have been analysed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the plastic strapping materials market. Another key feature of global plastic strapping materials market is the analysis of key segments in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the plastic strapping materials market. The overall absolute dollar opportunity along with the segmental split is mentioned in global plastic strapping materials market.

To understand key growth segments in terms of growth and adoption for plastic strapping materials market. Globally, Transparency Market Research developed the plastic strapping materials market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.

In the final section of the report on plastic strapping materials market, the ‘dashboard view’ of the companies is provided, to compare the current industrial scenario and their contribution in total plastic strapping materials market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the plastic strapping materials marketplace.

The market segmentation is as follows –

By material, the global plastic strapping materials market is segmented as -

  • Polyester
  • Composite
  • Polypropylene

By Application, the global plastic strapping materials market is segmented as -

  • Corrugated Boxes
  • Heavy Loads
  • Skids & Pallets
  • Others

By End Use, the global plastic strapping materials market is segmented as -

  • Consumer Electronics
  • Building & Construction
  • Food & Beverage
  • Automotive
  • Textile
  • Transportation & Logistics
  • Chemicals & Fertilizers
  • Other Industrial

By Geography, the global plastic strapping materials market is segmented as -

  • North America
  • Latin America
  • Europe
  • Middle East & Africa (MEA)
  • Asia Pacific (APAC)
.