Press Release

Global Plastic Strapping Materials Market is Expected to Reach US$ 2,287 Mn by 2025

Date : Dec 10, 2018

New report published by Global QYResearch which offers insights on the global Plastic Strapping Materials market. The Plastic Strapping Materials market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Plastic Strapping Materials is expected to reflect a 1.5x increase in the revenue growth. In 2017 the global Plastic Strapping Materials market was valued at US$ 1,564 Mn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 2,287 Mn growing at a value CAGR of 4.86% throughout the period of forecast.

Global Plastic Strapping Materials Market: Market Driver and Restraint

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.

Global Plastic Strapping Materials Market: Forecast by Type and Application

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.

Global Plastic Strapping Materials Market: Forecast by Region

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.

Global Plastic Strapping Materials Market: Key Players

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.

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