San Francisco, 8 March 2019: The Report Strapping Materials Market Analysis, By Material (Steel, Polypropylene, Polyester),
By Application, By Region, And Segment Forecasts, 2018 - 2025
The global strapping materials market is expected to reach USD 7.5 billion by 2025, at a 5.8% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The advantage of recycling pretend by plastic strapping materials makes it a sustainable packaging substitute, which is expected to drive market growth over the coming years.
Polypropylene was the largest material
segment in terms of revenue in 2016 and the trend is projected to continue with
a CAGR of 6.2% over the forecast period. Its property of high elongation
recovery is expected to boost market growth over the forecast period.
Plastic strapping is a durable alternative
to conventional packaging materials namely glass, aluminum, and tin, which are
used in the food and beverage industry. The flexibility of plastic allows
manufacturers to customize shape, size, and any other specification as per the
packaging requirement of a customer. Plastic strapping also helps save
packaging space compared to conventional packaging. It also offers damage
protection as it is compliant with cargo securement standards defined by
regulatory bodies in developed economies of North America and Europe.
Demand for strapping materials will be
driven by growth in industries such as food and beverages, industrial logistics
and warehouse, and corrugated cardboard and paper in developed economies
including U.S., Germany, and U.K.
Leading global players, such as Mosca GmbH,
Cyklop International, and Strapack, Inc., have a significant presence in North
America and European countries and are further working toward expanding their
operations in Asia Pacific. As strapping materials are increasingly used in
corrugated cardboard and paper, food and beverages, industrial logistics and
warehousing, and building and construction industries owing to their niche
characteristics, they are anticipated to offer growth opportunities to key
market players over the forecast period.
Access Research Report of Strapping Materials Market @ www.grandviewresearch.com/industry-analysis/strapping-materials-market
Further key findings from the report suggest:
· Polypropylene material segment is expected
to clock the fastest growth rate in terms of revenue at a CAGR of 6.2% from
2017 to 2025. This growth rate can be attributed to its application in various
end-use industries such as food and beverages, newspaper and graphics and
industrial logistics and warehousing
· Industrial logistics and warehouse was
estimated to be the largest application segment due to different types of
strapping materials used in this sector
· The U.S. strapping materials market was
valued at USD 968.0 million in 2016. The food and beverages application in U.S.
is projected to witness the fastest growth over the forecast period owing to
high demand from customers
· Key players including MOSCA GmbH, Polychem
Corporation, Signode Packaging Systems Corporation, and StraPack Inc. have a
prominent presence in the global strapping materials market
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the
global strapping materials market on the basis of type, application, and
region.
Strapping Materials by Materials
Outlook (Revenue, USD Million, 2014 - 2025)
·
Steel
·
Polypropylene
·
Polyester
Strapping Materials by Application Outlook
(Revenue, USD Million, 2014 - 2025)
·
Food & Beverage
·
Industrial Logistics & Warehouse
·
Corrugated Cardboard & Paper
·
Newspaper & Graphics
·
Building & Construction
·
Metal
Strapping Materials by Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Strapping Materials Market@ www.grandviewresearch.com/press-release/global-strapping-materials-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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