Woven Polyester Strapping Market: An Overview
Strapping is used for unitizing and holding items in place for transport and storage. Plastic strapping is done using materials such as polyester, polypropylene, or woven polyester (polyester and polypropylene). Polyester is known to be one of the most durable plastic strapping material and is often used as an alternative for steel strapping. Woven polyester strapping maintains its structural stability under adverse weather conditions and retains tension. Owing to its ability to absorb load impact without breaking makes woven polyester strapping suitable for several heavy duty applications.
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Woven Polyester Strapping Market: Dynamics
The woven nature provides additional strength to the strapping; this has bolstered the demand for woven polyester strapping in securing heavy loads, including metal as well as plastics. Unlike steel strappings, woven polyester strapping do not rust, are easier to handle and less expensive. These attributes are expected to fuel the demand for woven polyester strapping in the global strapping market. Woven polyester strapping has outpaced the growth of steel strapping market due to its ease of handling and non-corrosion properties. With more research and development, manufacturers of woven polyester strapping are widening its area of application to take over more heavy duty industrial applications. Additionally, the global logistics industry is expected to grow at a CAGR of 7.5% in the next decade, which will translate into an expansion of the woven polyester strapping market.
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However, plastic strapping is avoided in many applications and stretch wraps are used for unitizing products. When compared to stretch wraps, woven polyester strapping fail to provide full enclosure protection to the package. This is why woven polyester strapping is not preferred in many consumer packaged goods. Moreover, woven polyester strapping cannot match the strength of steel strapping which is used for long-distance transportation. This might restrain the area of application of these strapping solutions and adversely affect the sales of woven polyester strapping.
Key players are taking up sustainable practices and adopting recycled polyester for manufacturing strappings. This has led to reduced pollution as well as the cost of raw materials. For instance,
- FROMM Holding AG, uses recycled PET flakes for manufacturing strapping materials. The material is environmentally friendly and in compliance with the European Packaging Directive.
Woven Polyester Strapping Market: Segmentation
Globally, the woven polyester strapping market has been segmented as width, applications and end-use industries
On the basis of width, the global woven polyester strapping market has been segmented as follows
- Below 10 mm
- 10 mm – 20 mm
- 20 mm – 30 mm
- 30 mm and above
On the basis of applications, the global woven polyester strapping market has been segmented as follows
- Shipping Containers
- Crates & Pallets
On the basis of end-use industries, the global woven polyester strapping market has been segmented as follows
- Electrical & Electronics
- Transportation & Logistics
- Building & Construction
- Food & Beverages
- Chemical & Fertilizers
- Other Industrial
Woven Polyester Strapping Market: Regional Outlook
Geographically, the global woven polyester strapping market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excl. Japan (APEJ), Middle East, and Africa (MEA) and Japan. Many tier 1 players of the global woven polyester strapping market are based out of Europe and North America and have systematic distribution channels in developing economies of Asia Pacific. These regions are expected to witness steady growth in the global woven polyester strapping market owing to the established logistics services and manufacturing industry. In terms of market share, Asia Pacific is projected to dominate the global market due to high manufacturing and overseas trade activities.
Woven Polyester Strapping Market: Key Players
Some of the key players operating in the global woven polyester strapping market are OEMSERV Hong Kong Ltd., Redback Industries, Samuel, Son & Co., PAC Strapping Products, Inc., FROMM Holding AG among others. Many small-scale regional players are expected to contribute to the global woven polyester strapping market during the period of forecast.
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