Polypropylene was the largest material segment in terms of revenue in 2016 and the trend is projected to continue with a CAGR of 6.2% over the forecast period. Its property of high elongation recovery is expected to boost market growth over the forecast period.
According to a report,“Strapping Materials Market Analysis, By Material (Steel, Polypropylene, Polyester), By Application, By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc.; The global strapping materials market is expected to reach USD 7.5 billion by 2025, at a 5.8% CAGR during the forecast period. The U.S. strapping materials market was valued at USD 968.0 million in 2016. The food and beverages application in U.S. is projected to witness the fastest growth over the forecast period owing to high demand from customers.
Key Takeaways from the report:
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Polypropylene material segment is expected to clock the fastest growth rate in terms of revenue at a CAGR of 6.2% from 2017 to 2025. This growth rate can be attributed to its application in various end-use industries such as food and beverages, newspaper and graphics and industrial logistics and warehousing
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Industrial logistics and warehouse was estimated to be the largest application segment due to different types of strapping materials used in this sector
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Key players including MOSCA GmbH, Polychem Corporation, Signode Packaging Systems Corporation, and StraPack Inc. have a prominent presence in the global strapping materials market
Polypropylene was the largest material segment in terms of revenue in 2016 and the trend is projected to continue with a CAGR of 6.2% over the forecast period. Its property of high elongation recovery is expected to boost market growth over the forecast period.
Browse More Reports in Plastics, Polymers & Resins Industry:
Unsaturated Polyester Resin (UPR) Market: Growing construction industry as a result of industrialization in emerging countries including China, India and Brazil is expected to increase Fiberglass Reinforced Plastics (FRP) demand. UPR is extensively used in the manufacturing of FRP and is expected to witness growth on account of growing FRP use in construction.
Synthetic and Bio-Based Polypropylene Market: Growth of key end-use industries such as packaging and automotive in Asia Pacific is expected to drive the global polypropylene market the forecast period. In addition, increasing construction spending particularly in emerging markets of China, India and Indonesia is also expected to have a positive influence on the market growth.
plastic strapping is a durable alternative to conventional packaging materials namely glass, aluminum, and tin, which are used in the food and beverage industry. The flexibility of plastic allows manufacturers to customize shape, size, and any other specification as per the packaging requirement of a customer. Plastic strapping also helps save packaging space compared to conventional packaging. It also offers damage protection as it is compliant with cargo securement standards defined by regulatory bodies in developed economies of North America and Europe.
Demand for strapping materials will be driven by growth in industries such as food and beverages, industrial logistics and warehouse, and corrugated cardboard and paper in developed economies including U.S., Germany, and U.K.
Leading global players, such as Mosca GmbH, Cyklop International, and Strapack, Inc., have a significant presence in North America and European countries and are further working toward expanding their operations in Asia Pacific. As strapping materials are increasingly used in corrugated cardboard and paper, food and beverages, industrial logistics and warehousing, and building and construction industries owing to their niche characteristics, they are anticipated to offer growth opportunities to key market players over the forecast period.
Grand View Research has segmented the global strapping materials market on the basis of type, application, and region.
Strapping Materials by Materials Outlook (Revenue, USD Million, 2014 – 2025)
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Steel
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Polypropylene
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Polyester
Strapping Materials by Application Outlook (Revenue, USD Million, 2014 – 2025)
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Food & Beverage
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Industrial Logistics & Warehouse
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Corrugated Cardboard & Paper
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Newspaper & Graphics
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Building & Construction
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Metal
Strapping Materials by Regional Outlook (Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Europe
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Germany
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U.K.
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Asia Pacific
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China
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India
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Japan
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Central & South America
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Brazil
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Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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