A plastic straps is used for bundling or banding. Bundling or banding is a process of applying a straps to combine, stabilize, hold, reinforce, or fasten an item. The straps is also referred as strapping. Earlier steel strapping was used for heavy products for bundling, but after innovation and introduction of high tensile strength in plastic straps, it is becoming popular among strapping material. Plastic straps are extensively used in the packaging industry. Plastic straps enable transfer of goods without any damage from manufacturing facilities to end-users or to the market place. Plastic straps are employed in several applications in various industries such as building & construction, glass, food & beverages, agricultural, and textile. Use of plastic straps is increasing due to its lightweight and low cost.
Plastic Straps Market: Segmentation
The global plastic straps market can be segmented based on type, end-use industry, and region. In terms of type, the plastic straps market can be divided into polyester, polypropylene, nylon, and others. Polypropylene straps offer high tensile resistance, flexibility, and corrosion resistance. These straps are more cost-effect and lighter in weight than the straps made from other materials. Polypropylene straps offers higher elongation at break. These straps can be printed on during or after production. This provides a marketing advantage to plastic straps manufacturing companies. This, in turn is, projected to drive the polypropylene segment during the forecast period. Based on end-use industry, the plastic straps market can be segregated into paper, steel, bricks & tiles, fiber, cotton, corrugated boxes, logistics, and others. Paper and logistics segments are estimated to hold large share of the market. Growth in the logistic, packaging, and construction industries is anticipated to propel the plastic straps market.
Plastic Straps Market: Region wise Outlook
Based on region, the plastic straps market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The food & beverage industry is growing at a rapid pace in North America. This, in turn, is expected to boost the demand for plastic straps during the forecast period.. Rise in demand for electronics goods, growth in the construction industry, and increase in population are estimated to boost the transport of goods. This is projected to drive the plastic straps market in Asia Pacific during the forecast period. Moreover, large number of multinational companies are investing in manufacturing sector in developing country like India, which is driving demand of plastic straps In Indian market. China is also focusing more on various industrial sectors in upcoming years,Therefore, the plastic straps market in the region, especially in India and China, anticipated to expand at a considerable pace during forecast period. Growth in logistics and manufacturing industries in the Middle East and countries in North Africa is likely to propel the demand for plastic straps. This is expected to drive the plastic straps market in Middle East & Africa during the forecast period.
Plastic Straps Market: Key Players
Plastic straps market is estimated to fuel up during forecast players so many new players in plastic straps manufacturing are establishing their existence in this growing market. Few major players operating in the global plastic straps market include Crown Holding Inc, Polychem Corportion, FROMM Holding, Teufelberger Holding AG, PAC Strapping Products,Inc, Auto Strap India, and LINDER GmbH, and Cyclop Nederland B.V.