- Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2022
Progressive Markets published a report, Plastic Strapping Industry - Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2022, which says that the plastic strapping market is expected to grow at a CAGR of around 6.6% from 2017 to 2025.
Also known as bundling and banding, plastic strapping is the process of applying strap to an item to combine, stabilize, hold, reinforce or fasten it. It mostly finds application in the packaging industry. It is also used in the wood industry, paper industry, building industry, textile industry, and others. Plastic strapping is classified as PP strapping, PET strapping, and others.
Market Drivers and Restraints:
The report provides an overview of the drivers and restraints impacting the plastic strapping industry. Factors such as the growth in the transportation sector, the high demand for polyester straps in the North American region due to its low cost, light weight, and high tensile strength drive the growth of the industry. On the other hand, the preference of polypropylene straps over polyester straps in North America due to their low cost and greater elongation at break are hampering the industry growth. In addition, a decline in industrial production, consumption, investments, corporate profits, imports and exports, fiscal austerity programs, low intraregional demand in Western Europe, tight lending conditions for some countries, especially for small and medium-scale enterprises (SMEs) cause the growth to slow down.
The report analyzes the plastic strapping industry based on its segmentation. The market is segmented based on application and geography. Based on application, the market is classified as wood industry, paper industry, construction industry, and textile industry. The market analysis has been covered for the regions such as North America, Asia, Europe, and others.
Key Market Players:
The plastic strapping market report covers details about the major players operating in the industry. They make use of strategies such as partnerships, joint ventures, mergers and acquisitions and more in order to sustain and grow in the market. The major market players include Youngsun, Scientex, Brajesh Packaging, Midfield Industries, RICHMAN, Signode, Samuel Strapping, Dynaric, Polychem, M. J. Maillis Group, Cordstrap, Fromm Holding, Messersi Packaging, Mosca, and TEUFELBERGER.
Key Benefits from the Report:
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