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Increasing awareness towards recycling plastics will drive the growth of the Strapping Materials Market.

HYDERABAD, TELANGANA, INDIA, December 27, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Strapping Materials Market size is estimated to reach US$1.2 billion by 2027 after growing at a CAGR of around 6.7% from 2022 to 2027. Strapping materials are widely used in logistics and warehousing as it is used in packaging, bundling of materials like tiles, metals, newspapers and others. For instance, polyester strapping materials are a good replacement for steel straps and are used in the transportation of heavy materials like metals, woods, bricks due to its excellent properties like high break strength, elongation as well as recovery properties. The growth of Renewable Polyesters, due to awareness towards usage of recyclable packaging solutions, will drive the growth of strapping materials industry. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Strapping Materials Market highlights the following areas -

1. The rise in demand of polyesters has increased the use of Strapping Materials in various applications like logistics and warehousing, pulp and paper and others. This is because of their excellent properties like high elongation and elasticity.

2. The growth of logistics and warehousing due to the growth of e-commerce will drive the market due to the use of strapping materials in palettizing and bundling of materials like newspapers, metals, in transportation and warehousing.

3. Asia-Pacific will witness a significant growth in strapping materials market due to the rise in demand for logistics and warehousing activities.

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Segmental Analysis:

1. Polyester strapping material held the largest share in 2021 and is expected to grow at a CAGR of 6.1% in the forecast period. This is because polyester straps show properties like high tensile strength, UV resistant, reliability, recyclable and excellent stretch recovery properties. Polyester is the most use material for strapping purposes. Polyester held a market share of around 52% of total global fiber production, that is, around 62.8 million tons of polyester were produced in 2020. Thus, the growth of polyester will increase the use of polyester in strapping materials.

2. Asia Pacific will be the largest and the fastest-growing region in the Strapping Materials market in the forecast period with a share of around 40%. This is because countries of Asia Pacific region like China, India, South Korea and others witness a signifificant growth in applications like industrial logistics, food & beverage, consumer electronics and others.

3. Strapping materials are widely used in industrial logistics and warehouses, as the logistics and warehousing applications are expected to grow at a CAGR of around 40%. Logistics and warehousing is the most growing segment due to the growth of e-commerce. According to International Air Transport Association(IATA), E-Commerce logistics was the fastest-growing segment within cargo in 2020. Thus due to the growth of logistics and warehousing , the demand for strapping materials are also increasing. Strapping materials as polyesters and propylene straps are used in logistics for carrying medium to heavy duty loads like construction materials.

Competitive Landscape:

The top 5 players in the Strapping Materials Industry are -

1. Crawford Packaging
2. Technopack Corporation
3. Strapack Inc.,
4. Signode,
5. Signor Strapping Solutions

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Related Reports:

A. Strapping Machine Market
https://www.industryarc.com/Research/Strapping-Machine-Market-Research-504186

B. Semiconductor & IC Packaging Materials Market
https://www.industryarc.com/Research/Semiconductor-Ic-Packaging-Materials-Market-Research-500483

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