Global Plastic Straps Market – Industry Trends and Forecast to 2031

Plastic Straps Market Analysis and Size

The plastic straps market is advancing rapidly with innovations such as biodegradable and high-strength polymers. Latest methods include automated strapping machines enhancing efficiency and reducing labor costs. Technologies such as IoT-enabled systems offer real-time monitoring. Market growth is driven by increasing demand in packaging, logistics, and construction sectors, emphasizing sustainability and durability.

The global plastic straps market size was valued at USD 3.68 billion in 2023 and is projected to reach USD 15.10 billion by 2031, with a CAGR of 19.3% during the forecast period 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Plastic straps, also known as plastic strapping, are durable bands made from polypropylene or polyester used to secure, bundle, or reinforce packages and pallets. They provide strong tension and resistance, ideal for transportation and storage. Common in various industries, these straps ensure goods remain intact, preventing damage and maintaining stability during handling and shipment.

Plastic Straps Market Dynamics

Drivers

• Growing Packaging Industry

The growing packaging industry, driven by the increasing demand for secure and efficient packaging solutions across sectors such as food and beverage, electronics, and pharmaceuticals, is significantly boosting the plastic straps market. For instance, the surge in online grocery deliveries requires robust packaging to ensure product safety, leading to a higher demand for plastic straps. This trend underscores the pivotal role of the packaging industry in propelling the plastic straps market forward.

• Expansion of E-commerce

The rise of e-commerce platforms necessitates robust packaging solutions to ensure the safe transportation of goods, thus driving the demand for plastic straps. For instance, companies such as Amazon rely heavily on durable plastic straps to secure packages during transit, reducing damage and ensuring customer satisfaction. This increased usage in the e-commerce sector significantly boosts the plastic straps market, reflecting the growing need for reliable packaging materials.

Opportunities

• Improved Recycling Infrastructure

Advancements in recycling technologies and improved recycling infrastructure are making plastic strap a more sustainable option. For instance, enhanced sorting and processing facilities enable higher recycling rates, reducing environmental impact. The shift towards sustainability boosts market growth as businesses and consumers favor eco-friendly packaging. This trend enhances the plastic straps market, driven by the increasing demand for recyclable materials, promoting a more circular economy.

• Expansion of the Logistics Sector

The expanding logistics and transportation sector demands secure and reliable packaging solutions, significantly driving the plastic straps market. For instance, companies such as Amazon and FedEx, which handle massive volumes of goods daily, rely on plastic straps to ensure safe and efficient packaging and delivery. This growing need for robust packaging in logistics enhances the demand for plastic straps, contributing to market growth.

 Restraints/Challenges

• Volatility in Raw Material Prices

Volatility in raw material prices, particularly petrochemicals used in plastic strap production, disrupts market stability and profitability. Fluctuations create uncertainty in pricing, impacting manufacturers cost structures and profitability margins. This instability complicates financial planning and can lead to varying product pricing, potentially affecting market competitiveness and customer trust.

• Substitution by Alternative Materials

The plastic straps market faces significant hindrance from competition by alternative materials such as steel, composite materials, and bio-based alternatives. These materials offer varying strengths and environmental benefits, posing a threat to the dominance of plastic straps in certain applications and contributing to market share erosion.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In September 2023, The European Union implemented the Single-Use Plastics Directive, mandating the phase-out of single-use plastic straws, cutlery, and other items by 2021. This legislative move catalyzed a surge in demand for bio-based and paper alternatives across Europe, aiming to reduce plastic waste and promote sustainable practices
• In October 2023, California achieved a milestone by becoming the first US state to enforce a ban on single-use plastic straws in restaurants. This action spurred similar legislative efforts in other states and municipalities nationwide, reflecting a growing momentum towards reducing plastic pollution and embracing environmentally friendly alternatives
• In November 2023, The International Consortium for Alternative Materials (ICAM) launched a significant research initiative aimed at developing fully compostable plastic straps for the packaging industry. This project underscores a global commitment to innovate sustainable packaging solutions, addressing environmental concerns associated with conventional plastics
• In August 2020, Crown Holdings Inc. introduced Twentyby30, a comprehensive initiative outlining 20 measurable environmental, social, and governance (ESG) goals to achieve by 2030 or sooner. Key objectives include enhancing metal can recycling rates and incorporating recycled content in plastic strapping, demonstrating the company's dedication to advancing sustainability practices in packaging

Plastic Straps Market Scope

The market is segmented on the basis of type and end-user industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Polyester Straps
• Polypropylene Straps
• Nylon Straps
• Others
  • Paper Strap
  • Composite Strap

 End Use Industry

• Steel
• Cotton
• Paper
• Fiber
• Bricks and Tiles
• Others
  • Print
  • Corrugated Boards

Plastic Straps Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by type and end-user industry as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific is projected to observe significant growth during the forecast period fueled by multinational investments in manufacturing sectors of advancing countries. Attention from various industrial sectors is expected to further drive market expansion in the region in the coming years.

North America dominates the plastic straps market, driven by growth in the food and beverage industry. Additionally, increasing demand for plastic strapping kit and electronics goods will create further growth opportunities in the region during the forecast period.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Plastic Straps Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Mosca GmbH (Germany)
• Scientex Berhad (Malaysia)
• SAMHWAN STEEL CO., LTD. (South Korea)
• DuBose Strapping, Inc. (U.S.)
• Crown (U.S.)
• TEUFELBERGER (Austria)
• Messersì Packaging S.r.l. (Italy)
• Polychem Corporation (U.S.)
• FROMM Holding AG (Switzerland)
• PAC Strapping Products, Inc. (U.S.)
• Cyklop (Netherlands)
• Sistemas de Embalaje Sorsa S.A. (Finland)
• LINDER Seevetal (Germany)
• CONSENT (Netherlands)
• North Shore Strapping Inc. (Canada)
• IPG (Canada)
• AptarGroup, Inc. (U.S.)

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