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The latest report by IMARC, titled “ StrappingMaterialsMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast2 023-2028
” finds that the global strapping materials market size reached US$ 6.6 Billion in 2022.
Strapping is the method of unitizing, bundling, and palletizing goods, such as cartons, newspapers, pipes, lumbers, and concrete blocks. It uses metal or plastic straps, bands, and wires to facilitate easy handling and shipping of products. These materials can be applied either manually using a hand tool or automatically with a strapping machine.
They aid in closing corrugated boxes and shipping containers, holding bales of agricultural products or textiles, attaching items to pallets, skids, and crates, and securing a unit load of bricks, packaged glass, and metal parts. As a result, strapping materials are widely employed for reinforcing products and securing pallet loads for safe transportation and storage.
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The rising applications of strapping materials across various sectors represent the primary factor driving the market growth. For instance, in the food and beverage (F&B) industry, strapping materials are extensively utilized as a costefficient way of bundling, packaging, and palletizing food products. Besides this, steel straps are rapidly gaining popularity in the building and construction sector for packaging metal due to their excellent tensile strength, hot temperature resistance, and durability. Additionally, there has been a rise in the adoption of strapping materials in industrial logistics and warehousing for bundling items together and securing pallet loads during transportation and storage. In line with this, the growing usage of plastic strapping in the print industry owing to its elongation, recovery, and tension resistance properties has augmented the product demand. Besides this, with the significant growth in the e-commerce sector, the increasing utilization of corrugated cardboard and paper as a retail-ready packaging solution to protect goods from damage and vibration while handling and shipping has accelerated product adoption rates. Furthermore, several key players are developing fully automatic strapping machines with novel features and upgrades to reduce workload and boost efficiency. Along with this, recent advancements in strap manufacturing technology and processes have propelled market growth. Other factors, including the emerging packaged food industry, rise in air cargo and waterway transport, increasing penetration of online retail outlets, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 9.5 Billion by 2028, growing at a CAGR of 5.86% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary: BreakupbyMaterial:
• Steel
• Polypropylene
• Polyester
BreakupbyApplication:
• Industrial Logistics and Warehouse
• Food and Beverage
• Corrugated Cardboard and Paper
• Newspaper and Graphics
• Building and Construction
• Metal
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• Crawford Packaging Inc.
• Cyklop Gmbh
• Dynaric Inc.
• Martin Packaging Limited
• Mosca GmbH
• Plastofine Industries
• Polychem Corporation
• Signode Industrial Group LLC (Crown Holdings Inc.)
• Strapack Corporation
• Tesa Tapes (India) Private Ltd.
• TITAN Umreifungstechnik GmbH & Co. KG
• Unipack Trading Inc.
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https://www.imarcgroup.com/strapping-materials-market
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