Market Research Report
Plastic Strapping Materials Market Forecasts to 2028 - Global Analysis By Material (Composite, Polypropylene, Polyester), Application (Heavy Loads, Skids & Pallets, Cartons/Corrugated Boxes) and By Geography
|Plastic Strapping Materials Market Forecasts to 2028 - Global Analysis By Material (Composite, Polypropylene, Polyester), Application (Heavy Loads, Skids & Pallets, Cartons/Corrugated Boxes) and By Geography|
Published: November 1, 2021
Stratistics Market Research Consulting
Content info: 200+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Plastic Strapping Materials Market is accounted for $1,809.64 million in 2020 and is expected to reach $3,063.10 million by 2028 growing at a CAGR of 6.8% during the forecast period. Factors such as rising demand from the food and beverage industry, flourishing e-commerce industry, and improved logistics operations are driving the growth of the market. However, fluctuating cost of raw materials is hampering the growth of the market.
Plastic strapping is a substitute for conventional packaging materials such as glass, aluminium, and tin. The increased flexibility of plastic allows manufacturers to customize size and shape as per the packaging requirement of a consumer. Plastic strapping also helps in saving packaging space as compared to conventional packaging.
Based on the end user, the food & beverages segment is anticipated to expand at a rapid pace during the forecast period due to the rising demand for safe and effective packaging solutions. By geography, Asia Pacific is going to have high growth during the forecast period which can be attributed to the rapid growth in manufacturing industries in the region.
Some of the key players profiled in the Plastic Strapping Materials Market include Samuel, Son & Co., Limited, M. J. Maillis Group, Scientex Berhad, FROMM Holding AG, Signode Industrial Group, Teufelberger Holding AG, Granitol a.s., Dynaric Inc., Messersi' Packaging, and Hangzhou Youngsun Intelligent Equipment Co Ltd.
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