Plastic Straps Market by Type (Polypropylene Straps, Polyester Straps, Nylon Straps, Composite Straps, Paper Straps, and Corded and Woven Straps) and by End-Use Industry (Steel, Paper, Fiber, Cotton, Bricks & Tiles, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024

Global plastic straps market expected to reach USD 4.41 billion by 2024, growing at a CAGR of 18.8% between 2018 and 2024. Plastic straps are lightweight, flexible, and can be handled easily, which makes them suitable for bricks and tiles, paper, and cotton industries.

07-Dec-2018 | Number of pages: 110 | Report Code: ZMR-3418 | Report Format : | Status : Published

Analysis

Plastic straps were introduced as a substitute for steel strapping. These straps are mostly utilized in the paper and printing industry due to their beneficial properties, such as lightweight and corrosion-resistance. These straps are used for a broad range of applications, such as paper coating, construction additives, paints and coatings, and adhesives and sealant, among others.

The global plastic straps market is likely to experience significant in the upcoming years, due to the growing demand for plastic straps in the packaging industry, the logistics industry, and construction industry from emerging economies. The use of plastic straps in steel, paper, fiber, cotton, and bricks and tiles industries in different countries is increasing. The increased demand for plastic straps in the steel and paper industry is due to their lightweightness and low-cost, which is further anticipated to boost the global plastic straps market in the forecast time period. Emerging economies, growing product usage across numerous end-user industries, and flourishing construction industry are other key growth drivers of the global plastic straps market. Strict government rules pertaining to environmental pollution might hamper the plastic straps market in the upcoming years. Nonetheless, product innovations, such as advancements in bio-based plastics and emerging markets in the Asia Pacific region are likely to open new growth avenues for the major market players in the years to come.

Global Plastic Straps Market

By type, this market is classified into polypropylene straps, polyester straps, nylon straps, and others. Polypropylene straps dominated the type segment of the global plastic straps market and accounted for a major market share in 2017. By end-use industry, this market includes steel, paper, fiber, cotton, bricks and tiles, and others. Paper industry led the global plastic straps market in 2017.

By geography, the global plastic straps market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2017, Asia Pacific was the biggest market for plastic straps due to the growing demand for transportation and packaging industries. The Asia Pacific is anticipated to be the fastest growing market of plastic straps in the near future as well, owing to the increasing plastic straps demand from paper coatings, paints and coatings, and construction additives. The growth rate in North America and European markets is likely to be moderate over the forecast time period.

Major vendors of the global plastic straps market include Crown Holdings, Polychem Corporation, Teufelberger, FROMM Packaging, Messersi Packaging, Dubose Strapping, Auto Strap, and PAC Strapping Products, Inc., among others.


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