Pune, India -- (SBWire) -- 08/14/2018 --Global Plastic Straps Market, By Type (Polyester Straps, Polypropylene Straps, Nylon Straps, Others), End-Use Industry (Steel, Cotton, Paper, Fiber, Bricks & Tiles, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Plastic Straps Market
The Global Plastic Straps Market is expected to reach USD 5.21 billion by 2025, from USD 1.33 billion in 2017 growing at a CAGR of 18.9% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year is 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Key Market Competitors:
The key players operating in the global plastic straps market are –
Crown
TEUFELBERGER
Messersì Packaging S.r.l.
Polychem Corporation
FROMM Packaging Systems
The other players in the market are -
Mosca GmbH
Scientex
Samhwan steel co.
DuBose Strapping, Inc
PAC Strapping Products, Inc.
Cyklop Nederland B.V.
SORSA Strapping Systems
Auto Strap India
LINDER Seevetal
Consent Group
North Shore Strapping Company
Intertape Polymer Group Inc
AptarGroup Inc.
Market Definition:
With the advent of polyester straps, the problem of corrosion has been tackled, as steel has the property of corroding. Since polyester straps were introduced in the global market, the wrapping of the products was done by steel strapping. However, as steel has the property to corrode, this resulted in the deteriorating quality of goods that were wrapped with steel. Due to this logistics sector and other allied industries has a negative impact on them. So the demand for alternative strapping solutions took place, which also had to be light and soft. This lead to the increase in the use of polyester straps as an alternative for steel strapping. Manufacturers were able to capitalize on the benefits provided by polyester strapping, and therefore presently there is an increased demand for polyester straps in the market. Another important factor is the cost, as polyester straps are cheaper, their demand is on a rise in the market. In July 2018, Sweden's Trelleborg AB has acquired U.S. based laminating coating technologies (Lamcotec) as a part of their strategy to strengthen its position. They develop and manufacture polyurethane-coated and laminated fabrics which are primarily used for aerospace industry and medical industry. With the increasing demand of these fabrics, the market is expected to grow.
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Segmentation:
By Type
- Polyester Straps
- Polypropylene Straps
- Nylon Straps
- Others
By End-Use Industry
- Steel
- Cotton
- Paper
- Fiber
- Bricks & Tiles
- Others
By Geography
- Asia Pacific
? China
? South Korea
? Japan
? India
? Australia
? Singapore
? Thailand
? Indonesia
? Malaysia
? Philippines
? Rest of Asia-Pacific
- North America
? US
? Canada
? Mexico
- Europe
? Russia
? Turkey
? Belgium
? Netherlands
? Switzerland
? Spain
? France
? Germany
? Italy
? UK
? Rest of Europe
- South America
? Brazil
? Rest of south America
- Middle East & Africa
? Saudi Africa
? Rest of MEA
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Market Drivers:
? Low cost and light weight alternatives for materials
? The rising demand of plastic straps in major markets such as India and China
Market Restraint:
? The fluctuating prices of raw materials
? Increase in environmental pollution and waste management
Key Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global plastic straps market
- Analyze and forecast the plastic straps market on the basis of type and end use industry
- Trends of key regional and country-level markets for type and end use industry
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
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Global Plastic Straps Market at a Highest CAGR of 18.9% and Dominated by DuBose Strapping, Inc, PAC Strapping Products, Inc., Cyklop Nederland B.V., Consent Group
The global plastic straps market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of friction modifiers market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.