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.
Browse full research report on Strapping Materials Market: https://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
- U.S.
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- 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.
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