Metal Strapping Market - Overall Industry Analysis 2022
Progressive Markets published a report, “Metal Strapping Industry - Size, Trend, Share, Opportunity Analysis & Forecast, 2016-2022”, which says that the market was valued at $1,892 million in 2016 and is expected to reach $2,746 million in 2022, growing at a CAGR of 4.3% from 2017 to 2022.
Every industry wants their raw and finished materials or supplies to be handled in an efficient and safe manner while transportation or shipping. Strapping serves the purpose. Also called banding, strapping is the process of applying a strap to a product to combine, hold or fasten it. Steel is the oldest and high tensile metal strapping used in industries today. Available in a variety of thicknesses, widths, and grades of steel, it is used for heavy duty tasks where high tensile strength is required. Steel strapping has surface finishes such as paints, paint and wax, bluing or zinc and wax. Common applications of steel strapping include steel coils, bundles of metal, baling wire, bricks and pavers, and roll-end binding. The industries where it finds application in include the wood industry, paper industry, metal and alloy industry, oil refinery, railroad industry, timber industry, construction industry, textile industry, and others.
Market Drivers and Restraints:
The report discusses the influence of the drivers and restraints on the metal strapping industry. Metal strapping is presently witnessing a great demand across industries due to their high versatility, great break strength, high UV and shock resistance, and durability. The need to reduce risks, maximize performance and reliability, keep materials and products safe in a variety of scenarios are also propelling the industry growth. In addition, with the development of the emerging countries, the metal strapping industry is expected to have a high growth. Nonetheless, recent advances in plastic strapping technologies have led to the adoption of plastic strapping instead of metal strapping in some industries, which is hampering the growth of the market. Moreover, economic downturn and low market awareness impede the industry growth.
Metal Strapping Market Key Segmentation:
The research report segments the metal strapping market as per type, application, and geography. Based on type, the metal strapping industry is split into stainless steel strapping and others. Based on application, the industry is split into wood industry, paper industry, building industry, textile industry, and others. Geographically, the market analysis is covered for the regions such as North America, Europe, Asia, Africa, and Australia.
- Stainless Steel Strapping
- Wood Industry
- Paper Industry
- Building Industry
- Textile Industry
- North America
Key Market Players:
The research report also assists to comprehend the profiles of the leading players in the industry by offering an in-depth study of the competitive landscape worldwide. Major companies covered in the report are Anshan Falan, Baopack, Bhushan Steel, Midfield Industries, Shoko Kiko Co., Ltd., HONGMEI, Signode, Samuel Strapping, Polychem, PAC Strapping Products, Inc., MJ Maillis SA, TITAN, LINDER GmbH, Cyklop, and Specta.
Key Benefits from the Report:
- The report provides an in-depth knowledge and insight on the metal strapping industry. It focuses on the product definition, classification application and industry chain overview, policy and plan, manufacturing process, cost structure, market size, market share analysis, market forecast, capacity, production, price, cost, revenue, supply, demand, industry growth rate, up and downstream industry analysis, market development trends, and company profiles.
- The useful data included in the study makes the research document a handy resource for managers, industry analysts and experts and other key people get ready-to-access and self-analyzed study. It helps them make informed business decisions based on their goals.
- The graphs and tables in the report provide further clarity to the information in the report and help to understand the market trends, drivers and challenges.
- It helps understand the key product segments and their future growth.
- It helps understand the changing competitive landscape to keep one ahead of its competitors.