• The Global Plastic Straps Market was valued at USD YY million in 2018 and is estimated to reach USD YY million by 2026, with a CAGR of 20% during the forecast period from 2019 to 2026.
• Plastic strap is a widely used packaging material. Plastics straps are commonly used means of unitization and bundling in the packaging industry. It is available in various widths, thicknesses, and polymer variations.
• Plastic strapping materials can be applied manually with the use of hand tensioning tool, or automatically by a strapping machine. Plastics Straps are an excellent alternative over steel straps. Plastic Straps are made for use with hand tools and high-production power powerful machines.
• They have controlled surface properties that minimize tensioning effort, increase tension-transmission around corners, and improve operations effectiveness.
• Increased online shopping, packaging continues to play a pivotal role in both the brand and the consumer’s e-commerce experience.
• The increasing online sales volume requires higher speeds of both printing and packaging for companies to deliver on the promise of quick delivery. High-quality plastic strap is serving the need of the rapidly growing e-commerce market.
• Increasing commitment to sustainability is a significant trend in the packaging Industry. The use of plastic straps as a packaging material and a means for securing goods for transportation is very sustainable as it requires very little product and is one of the most minimal forms of packaging available.
• It ensures that transported goods are secured using only a small amount of plastic material, meaning less packaging waste and ultimately, less impact on the environment. Hence Plastics straps are expected to witness significant growth during the forecast period.
• In line with broader packaging Industry, Plastic straps market is also expected to witness increased use of recyclable products.
• Global Plastic Straps Market is segmented by Type and End-user Industry. By Type, Plastic Straps Market is segmented into Polypropylene, Polyester, Polyamide (Nylon), and Others. Polypropylene accounts for the significant share of the market.
• Polypropylene is best for light-duty palletizing, unitizing, carton closing and bundling.
• It is used in all semi-automatic strappers and nearly all standalone arch machines. Polyester is another standard option for plastic strapping.
• Together Polypropylene and Polyester account for most of the market share. Polyester strapping can be woven or nonwoven. The nonwoven strap referred to as “composite straps’ consist of polyester filaments in a straight line that is encased in a polymer.
• Woven Polyester strapping is even stronger than the composite straps. Woven polyester straps are trendy. Polyamide or Nylon is another strong plastic strapping product just like polyester. While nylon is durable, its high price is a deterrent in today’s market. Fiber has been replaced by polyester.
• By Application, Plastic Straps Market is segmented into Paper and printing, Metal and steel, Fiber and textile, Brick and tiles, and others. Paper & printing segment accounted for the largest share of the market.
• By region, Global Plastic Straps Market is segmented into North America, South America, Asia-pacific, Europe, and Rest of the world. Asia-pacific accounted for the significant share of the market owing to massive economic growth in the last few decades.
• China, India are among the largest packaging markets in the world. Developing countries in Asia are also expected to witness tremendous growth in the e-commerce business due to which Asia-pacific is also likely to be the fastest growing market for plastic straps during the forecast period. North America and Europe are also expected to witness significant growth during the forecast period.
• The plastics straps market is very competitive consisting of many global and domestic players. Some of the major players in the Global Plastic Straps Market are Crown Holdings, Teufelberger, FROMM Holding, Messersì Packaging, Polychem Corporation, Scientex Ber-had, Auto Strap India, MOSCA GmbH, Cyklop International, IPS Packaging, Continental Western Corporation, Consent Group, Dubose Strapping, and PAC Strapping Products.
• Major companies in the Plastic Straps Market are strengthening their position in the market by acquiring the stake in the smaller companies. In Nov 2018, Global packaging manufacturer Scientex Berhad announced to expand its flexible packaging business with the proposed acquisition of 42.41% controlling stake in Daibochi which is a flexible packaging provider in the South East Asian region.
• In Dec 2017, Crown Holdings, Inc. a global leader in consumer packaging, today announced the agreement to acquire Signode Industrial Group Holdings Ltd., a leading global provider of transit packaging systems and solutions in 3.91 billion USD deal.
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