Plastic Straps Market Scope
A plastic strap is basically a flexible flat material that helps to combine, hold, reinforce, or fasten an item. Before the plastic strap, steel strapping was used for heavy products for bundling. Plastic strapping materials are produced from polypropylene, polyester, and are available in a wide variety of styles, strengths, and finishes. The plastic straps market is taking advantage of cost reduction and is gaining considerable ground. It can be used for several applications in various industries such as food & beverages, agricultural, textile, building & construction, and glass. The use of plastic straps is increasing due to their lightweight and low cost. Emerging nations such as India and China, are setting a wider field for the plastic straps market to explore and profit.
The Plastic Straps market study is segmented by Type (Polyester Straps, Polypropylene Straps, Nylon Straps and Others (Composites Straps, and Textile Straps)), by Application (Packaging and Bundling) and major geographies with country level break-up. According to AMA, the Global Plastic Straps market is expected to see growth rate of 17.5%
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Plastic Straps market throughout the predicted period.
Crown Holdings (United States), Teufelberger (Austria), Fromm Packaging Systems (United States), Messerś Packaging (Italy), Polychem Corporation (United States), Scientex Berhad (Malaysia), Mosca Direct Limited (United Kingdom), Dubose Strapping (United States), PAC Strapping Products (United Sates) and Auto Strap (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Linder Seevetal (Germany), Cyclop Nederland B.V. (Netherlands), CONSENT (UAE) and Embalcer (Portugal).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Plastic Straps market by Type, Application and Region.
On the basis of geography, the market of Plastic Straps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In August 2019, Teufelberger has launched innovative and sustainable PP strap which led to a new technology. It is the basis for the innovative product TEWE SoPRIM, a 5 mm strapping band. TEWE SoPRIM requires fewer raw materials with improved running characteristics as well as convinces, especially in the newspaper and corrugated industry.
United Nations Environment Program and the World Resources Institute offers new insight on the global movement to curb single-use plastics. Also, the federal government has asserted its authority to regulate food, drug, and cosmetic packaging to preserve consumer safety and confidence. There have also been a number of regulatory programs introduced by states or local jurisdictions to reduce the use and disposal of certain packaging materials and mandate minimum recycling requirements.
Market Trend
- Development of Bio- Based Plastics Straps
Market Drivers
- High adoption of plastic straps in logistic, packaging, and construction industries is driving the market growth.
- Growing Demand for Lightweight Straps and Low-Cost Alternative to Other Materials
Opportunities
- Rising Demand in Major Economies such as India and China
- Rapid Rise in Packaging and Construction Industry in Developing Countries
Restraints
- Fluctuating Prices of Raw Materials
- Environmental Rules and Regulations by Various Countries Governments
Challenges
- New Entrants in the Market
Key Target Audience
Plastic Straps Manufacturers, Raw Material Suppliers, Traders/Exporters/Importers, Distributors, and Suppliers of Plastics Straps, End-use Industries and Others
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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