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
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
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.
