Increasing demand for low cost alternatives and lightweight products, rising adoption in different end use industries, and increasing industrialization and urbanization in emerging economies are expected to open new opportunities for plastic straps market in coming years. Additionally, increasing construction activities in developed as well as developing economies are expected to increase demand for bio-based plastics in coming years. However, high raw material costs, tight government environmental emissions legislation and waste disposal are likely to hamper the development of the global demand for plastic straps in the coming years.
The size of the global market for Plastic Straps is expected to reach $7.89 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 16.4%.
The purpose of the report is to estimate the market size for global plastic straps industry and the future growth potential of the market for plastic straps across various segments, such as type, end-use, and the geography. Plastic straps are simply the bundling materials that are attached to a single object to blend, strengthen, secure, support or fasten it. Additionally, plastic straps are increasingly used in the packaging industry. Major development in its application fields, including the paper and cotton industries and the building sector, is anticipated for plastic straps.
The vulnerability of these straps to environmental conditions is one of the biggest constraints on the market for plastic straps. Such straps are non-biodegradable in nature and have harmful environmental effects. Improper handling and recycling of these straps after their use will result in waste generated from plastic, which, in turn, can have significant environmental implications, including soil contamination. As a result, environmentally oriented regions are seeing lower growth in the demand for plastic straps.
Increasing residential and commercial construction activities in Asia Pacific and Middle East & Africa is expected to open new avenues for plastic straps industry over the coming years. Rising building & construction industry in these economies will leads to increased use of the strapping materials used to carry and strengthen different products and packaged materials. As a result, in the coming years, developing countries will have tremendous growth prospects for the demand for plastic straps.
Leading companies mentioned in the report are Polychem Corporation, Messersì Packaging, Fromm Packaging Systems, Teufelberger, Crown Holdings, Scientex Berhad, Linder Seevetal, Auto Strap India, PAC Strapping Products, Dubose Strapping, and Mosca Direct Limited. Other notable players operating in this industry are Consent Group, North Shore Strapping Company, Samuel Strapping Systems, Sorsa Strapping Systems, Cyklop Nederland.
Key Segments of the Global Plastic Straps Market
Type Method, 2018-2028 (USD Million)
- Polyester Straps
- Polypropylene Straps
- Nylon Straps
End-Use 2018-2028 (USD Million)
- Bricks & Tiles
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global plastic straps market
- Polychem Corporation
- Messersì Packaging
- Fromm Packaging Systems
- Crown Holdings
- Scientex Berhad
- Linder Seevetal
- Auto Strap India
- PAC Strapping Products
- Dubose Strapping
- Mosca Direct Limited
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of plastic straps market benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on plastic straps Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the plastic straps industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on type, product, form, and source. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global plastic straps Market. The report will benefit: Every stakeholder involved in the plastic straps market.
- Managers within the plastic straps industry looking to publish recent and forecasted statistics about plastic straps market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global plastic straps market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.