There has been a growing demand for plastic strapping materials in many industries such as textile, building and construction, transportation and logistics, automotive, and food and beverages. This factor is likely to boost the global plastic strapping materials market over the assessment tenure, from 2018 to 2026.
In the global plastic strapping materials, polypropylene is estimated to be the widely chosen strapping material for various end use industries. Such preference for polypropylene is owing to the compatibility and widespread availability of the product for many of the applications. Polyester strapping finds increased use in various heavy load industries, thanks to its high breaking strength.
Some of the key market players that have been profiled in the global plastic strapping materials market are Samuel, Son and Co., Limited, M. J. Maillis group, Signode Industrial Group, Teufelberger Holding AG, Scientex Berhad, and Hangzhou Youngsun Intelligent Equipment Co. Ltd,
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Presence of Untapped Market Makes Asia Pacific a Promising Region
Considering regional segmentation of the global plastic strapping materials market, North America is prognosticated to hold a sizeable share of the global plastic strapping materials market and is expected to retain its regional dominance. The US is estimated to drive the regional growth of the market, thanks to the rising demand from food and beverage segment.
Asia Pacific is prophesized to expand at a high growth rate owing to phenomenal growth of the packaging and manufacturing industry in the Asia Pacific region. Augmented research and development in plastic strapping materials industries is likely to add to the growth of the global plastic strapping materials market over the review period, from 2018 to 2026.
Increased Demand from the Food and Beverage Industry to Spur Demand for the Product
Polypropylene and polyester strapping are the two significant types of plastic strapping that found today. Polypropylene strapping is a cost effective strapping substance that is meant for unitizing, palletizing, and light duty bundling.
In addition, increasing need of the product in the shipping and handling of products is likely to work in the favor of the market in near future. Furthermore, high demand of plastic strapping materials is generated by the food and beverage sector, which is further likely to help the market to flourish. High resistance to corrosion found in the plastic strapping material renders it ideal for use in the food and beverage industry. In addition, it is easy to remove, attach, and handle plastic strapping materials manually. Plastic strapping is more cost effective as compared to steel strapping. It is also a secure option for unitizing solutions. These factors are likely to trigger growth of the global plastic strapping materials market.
However, on the other hand, the global plastic strapping materials market is likely to be impeded by the price fluctuations of raw materials.
The information shared in this review is based on a TMR report, bearing the title, “Plastic strapping materials (Material - Plastic, Composite, Polypropylene, and Polyester; Application - Heavy loads, Skids and Pallets, and Cartons; End User - Automotive, Chemical and Fertilizers, Building and Construction, Consumer Electronics, Transportation and Logistics, Food and Beverages, and Textile) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 to 2026”
The global plastic strapping materials market is segmented based on:
- Heavy loads
- Skids and Pallets
- Chemical and Fertilizers
- Building and Construction
- Consumer Electronics
- Transportation and Logistics
- Food and Beverages
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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