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Plastic Straps Market Revenue Growth, New Launches, Regional Share Analysis & Forecast Till 2026
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The latest report published by Reports and Data is a work of meticulous research on the global Plastic Straps industry. It delves into the core structure of the industry to highlight its key segments and various micro-economic and macro-economic factors that influence industry growth. The report elucidates the key market dynamics such as market size, market share, market growth drivers, restraints, threats, and opportunities using advanced analytical methods including SWOT analysis and Porter’s Five Forces analysis. It further offers market revenue growth in terms of gross profits, regional market revenues, industry revenue growth rate, sales statistics, manufacturing costs, production & consumption, supply & demand, and key market players’ financial standing.
The Plastic Straps market report offers latest updates on the COVID-19 situation of the market, as well as the profound changes that followed the outbreak. In the COVID-19 Impact Analysis section of the report, major focus has been laid on the severe effects of the pandemic on the industry’s functioning. Moreover, market experts at Reports and Data offer research-backed insights into the Plastic Straps industry and identify the key barriers to industry growth. The aim of this report is to enable businesses to optimize their growth strategies and capitalize on the emerging opportunities.
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Increasing demand for essential consumer products including soaps, detergents, perfumes, etc., growing production of environmentally sustainable chemicals and raw materials, and technological advancements in chemical and material manufacturing processes are some of the key factors driving the growth trend of the global materials & chemicals market. Rapidly surging demand for organic chemicals and high-performance specialty chemicals in the oil & gas, pharmaceutical, pulp & paper, personal care & cosmetics, food & beverage, agriculture, and textile industries is another important parameter for market growth.
Leading Market Competitors: Packaging Systems, Crown Holdings, Teufelberger, Polychem Corporation, Messersì Packaging, Mosca Direct Limited, Scientex Berhad, PAC Strapping Products, Dubose Strapping, and Linder Seevetal.
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Product Type Outlook (Volume, Million Meters; Revenue, USD Billion; 2016-2026)
- Polypropylene Straps
- Polyester Straps
- Nylon Straps
- Others
Joining Methods type Outlook (Volume, Million Meters; Revenue, USD Billion; 2016-2026)
- Melting
- Friction
- Manually
Application Type Outlook (Volume, Million Meters; Revenue, USD Billion; 2016-2026)
- Strapping & Bundling
- Carton Sealing
- Others
End-user Type Outlook (Volume, Million Meters; Revenue, USD Billion; 2016-2026)
- Industrial Logistics & Warehouse
- Food & Beverage
- Corrugated Cardboard
- Paper
- Building & Construction
- Metal
- Others
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Further key findings from the report suggest
- The plastic straps market held a market share of USD 1.28 Billion in the year 2018. It is projected to witness a growth rate of 13.5% during the forecast period.
- In regards to Product type, the Polypropylene Straps segment is leading the market that generated the highest revenue of USD 0.54 Billion in 2018, with the fastest CAGR of 14.0% during the forecast period. Factors like its cost-effectiveness, and availability in different thickness, and widths, which has resulted in its extensive use among end-users that results in the revenue generated by the Polypropylene Straps
- In regards to Joining Methods, the Melting segment yielded the highest revenue of USD 0.59 Billion in 2018 with the fastest growth rate of 14.1% during the forecast period. Its extensive use among manufacturers, because of the ease of this method and its cost-effectiveness results in the revenue generated by the Melting segment.
- In the context of Application, the Strapping & Bundling segment holds the largest market share of 48.0% in 2018, with the fastest growth rate of 14.0% during the forecast period. The market share occupied by the Strapping & Bundling segment is attributed to the high demand of this strap in the paper industry wherein, it is mostly used for bundling and strapping the end products.
- In regards to region, Europe holds the third-largest markets share of 23.0% in 2018 with the growth rate of 13.6% during the forecast period. Factors like the presence of well-established electronics industry, and expanding construction sector contribute to the market share occupied by this region.
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