Plastic Straps Market - Global Industry Analysis

Plastic Straps Market By Type (Polyester Straps, Polypropylene Straps, Nylon Straps, and Others), By End-Use (Steel, Cotton, Paper, Fiber, Bricks & Tiles, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 30-May-2022 Category: Chemical & Materials Report Format : PDF Pages: 158 Report Code: ZMR-3418 Status : Published

The global plastic straps market grasps a total revenue of USD 2.39 billion in 2021 and is assessed to reach around USD 6.85 billion by 2028, with a compound annual growth rate (CAGR) of nearly 15.9 percent over the forecast period.

Description

Industry Prospective:

The global plastic straps market grasps a total revenue of USD 2.39 billion in 2021 and is assessed to reach around USD 6.85 billion by 2028, with a compound annual growth rate (CAGR) of nearly 15.9 percent over the forecast period. The report analyzes the plastic straps market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the plastic straps market.

Plastic Straps Market: Overview

Plastic straps are long, narrow sheets of plastic. In industrial settings and even public venues, such plastic strip variations are frequently installed in entrances for climate control purposes. The length and inflexibility of most other plastic strip variants define them. They're utilized as construction trim, nail gun collators, furniture components, car trim, and a variety of other things. Many plastic materials may be used to make rigid plastic strips. High and low-density PET, polyethylene, polystyrene, and a variety of other plastic polymers are among them. Each material is chosen for its strength, weather resistance, durability, and other important characteristics.

COVID-19 Impact:

The pandemic of COVID-19 wreaked havoc on the automobile and electronics industries. Import-export restrictions imposed by governments in various locations caused a heavy delay in electronic item imports and exports. Furthermore, vehicle production has been disrupted in the last two years, resulting in a significant loss in the whole automotive sector. As per the association of European Automobile Manufacturers, demand for new commercial cars in the EU remained sluggish in June 2020 (-20 percent), however, the rate of fall reduced from April and May of 2020. In 2020, three of the region's four major markets Germany, Spain, and Italy had double-digit percentage declines. The decline in vehicle manufacturing has resulted in a considerable drop in demand for car packaging, which has a big influence on the plastic straps industry.

Global Plastic Straps Market

Plastic Straps Market: Growth Drivers

Increasing automotive production and expanding the building and construction sector

Automobile production is rapidly increasing across the world, for instance, Malaysian passenger vehicle manufacturing climbed by 2.6 percent in 2019. China is the world's largest automotive market, with the Chinese government expecting 35 million automobiles to be produced by 2025. The number of automobile manufacturers is rapidly increasing in the Indian market. Furthermore, plastic straps, such as polyester straps, are chosen over paper straps for packing building supplies because they have more flexibility and weather resilience, and they work well under stress loading. As a result, they're utilized to pack building materials including clay bricks, plasterboards, roofing tiles, lumber, plywood, and chipboard. The rate of building construction has increased tremendously in developing countries such as China, India, and Africa which is strongly supporting the demand for plastic straps.

Plastic Straps Market: Restraints

Restrictions and stringent regulations on plastic use in many nations may hamper market growth.

Plastics are harmful to the environment. They are not environmentally friendly as the plastic products does not decompose naturally which can affect the environment if not disposed of or recycled properly. which has slowed down their production. And currently, the customers prefer to employ bio-based goods, which aid in realizing the potentiality of customers while also posing risks and raising environmental consciousness. These factors are primarily affecting the growth of the global plastic straps market.

Plastic Straps Market: Opportunities

Low price and durability of plastic straps offer several opportunities for their use in many end-use industries.

The increase in opportunities occurs owing to the increased flexibility, high tensile strength, and ease of handling of plastic straps. Furthermore, the expansion of the middle and upper classes in the Asia Pacific region, along with an increase in discretionary money, has boosted the end-user industries such as paper, steel, and brick industries in China, Japan, and India. Moreover, the major utilizers of plastic straps such as automobiles and constructions are also expanding at a rapid rate in these countries. All these factors are expected to expand the global plastic straps market growth during the forecast period.

Plastic Straps Market: Challenges.

Fluctuation in raw material prices poses a major challenge to market growth.

Polyester and polypropylene, which are end products of crude oil, are recurrently employed as raw ingredients in the fabrication of plastic straps. As a result, the price of raw materials used for plastic straps manufacturing is affected by the fluctuation of crude oil prices. The price volatility of crude oil has grown in the recent year, according to the major crude oil extractors, BP showed the crude oil price increased from USD 43.73 in 2016 to USD 71.31 in 2018. On the other side, polyester and polypropylene prices are also rising due to the unpredictable crude oil prices. Raw material prices fluctuate as crude oil prices fluctuate, which is predicted to be a big problem for the plastic straps market producers.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Plastic Straps Market: Segmentation

The global plastic straps market is bifurcated based on types, end-use, and region. Based on type, the market is categorized into polypropylene straps, nylon straps, polyester straps, and others. The end-user segment of the market is segmented as paper, steel, cotton, bricks & tiles, fiber, and others.

Recent Developments

  • October 2021, at the PACK EXPO in Las Vegas, Singode introduced the SGP strapping machine series. The new strapping machines from Signode are meant to boost production by imitating a pressured wash-down environment. For cycles without product, the SGP automated machine has a close strap arch system, as well as an automatic strap feeder and automatic strap end ejection.
  • August 2020, Crown Holdings Inc. established Twentyby30, a "strong program that defines 20 quantifiable environmental, social, and governance (ESG) targets to be accomplished by 2030 or sooner," according to the company. The firm promises to increase metal can recycling rates and utilize recycled plastic strapping.

Plastic Straps Market: Regional Landscape

Asia Pacific to lead the global market during the forecast period.

Due to increased demand for plastic straps from the automobile, food & beverage, paper, and electronics industries, the Asia Pacific region had the highest share of the global plastic straps market in 2021, which accounts for up to 45 percent of the global market. Flourishing paper industry in Japan, electronic industries in India, and automobile, consumer goods, and packaging sectors in China, the regional plastic straps market expanded significantly. Similarly, the plastic straps market in North America is likely to grow at a healthy rate over the forecast period. Factors such as the well-developed packaging and automobile industry in the United States are fostering the market growth. Europe is also expected to have ample growth opportunities for market expansion during the forecast period.

Plastic Straps Market: Competitive Landscape

Major players operating in this highly fragmented global plastic straps market include Polychem Corporation, Crown Holdings, Teufelberger, Messersi Packaging, FROMM Packaging, Dubose Strapping, Auto Strap, PAC Strapping, and Scientex Berhad.

Global plastic straps market is segmented as follows:

By Type

  • Polyester Straps
  • Polypropylene Straps
  • Nylon Straps
  • Others

By End User

  • Steel
  • Cotton
  • Paper
  • Fiber
  • Bricks & Tiles
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Plastic Straps Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Plastic Straps Market : snapshot
  • Chapter 3. Global Plastic Straps Market - Industry Analysis
    • 3.1 Plastic Straps Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing automotive production and expanding the building and construction sector
    • 3.3 Market Restraints
      • 3.3.1. Restrictions and stringent regulations on plastic use in many nations may hamper market growth.
    • 3.4 Market Opportunities
      • 3.4.1. Low price and durability of plastic straps offer several opportunities for their use in many end-use industries.
    • 3.5 Market Challenges
      • 3.5.1. Fluctuation in raw material prices poses a major challenge to market growth.
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By End User
  • Chapter 4. Global Plastic Straps Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Plastic Straps Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Plastic Straps Market - Type Analysis
    • 5.1 Global Plastic Straps Market overview: By Type
      • 5.1.1 Global Plastic Straps Market share, By Type, 2021 and 2028
    • 5.2 Polyester Straps
      • 5.2.1 Global Plastic Straps Market by Polyester Straps, 2022 - 2028 (USD Billion)
    • 5.3 Polypropylene Straps
      • 5.3.1 Global Plastic Straps Market by Polypropylene Straps, 2022 - 2028 (USD Billion)
    • 5.4 Nylon Straps
      • 5.4.1 Global Plastic Straps Market by Nylon Straps, 2022 - 2028 (USD Billion)
    • 5.5 Others
      • 5.5.1 Global Plastic Straps Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Plastic Straps Market - End User Analysis
    • 6.1 Global Plastic Straps Market overview: By End User
      • 6.1.1 Global Plastic Straps Market share, By End User, 2021 and 2028
    • 6.2 Steel
      • 6.2.1 Global Plastic Straps Market by Steel, 2022 - 2028 (USD Billion)
    • 6.3 Cotton
      • 6.3.1 Global Plastic Straps Market by Cotton, 2022 - 2028 (USD Billion)
    • 6.4 Paper
      • 6.4.1 Global Plastic Straps Market by Paper, 2022 - 2028 (USD Billion)
    • 6.5 Fiber
      • 6.5.1 Global Plastic Straps Market by Fiber, 2022 - 2028 (USD Billion)
    • 6.6 Bricks & Tiles
      • 6.6.1 Global Plastic Straps Market by Bricks & Tiles, 2022 - 2028 (USD Billion)
    • 6.7 Others
      • 6.7.1 Global Plastic Straps Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 7. Plastic Straps Market - Regional Analysis
    • 7.1 Global Plastic Straps Market Regional Overview
    • 7.2 Global Plastic Straps Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Plastic Straps Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Plastic Straps Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Plastic Straps Market, by Type, 2022 - 2028
      • 7.4.1 North America Plastic Straps Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 North America Plastic Straps Market, by End User, 2022 - 2028
      • 7.5.1 North America Plastic Straps Market, by End User, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Plastic Straps Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Plastic Straps Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Plastic Straps Market, by Type, 2022 - 2028
      • 7.4.1 Europe Plastic Straps Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Europe Plastic Straps Market, by End User, 2022 - 2028
      • 7.5.1 Europe Plastic Straps Market, by End User, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Plastic Straps Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Plastic Straps Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Plastic Straps Market, by Type, 2022 - 2028
      • 7.4.1 Asia Pacific Plastic Straps Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Plastic Straps Market, by End User, 2022 - 2028
      • 7.5.1 Asia Pacific Plastic Straps Market, by End User, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Plastic Straps Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Plastic Straps Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Plastic Straps Market, by Type, 2022 - 2028
      • 7.4.1 Latin America Plastic Straps Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Plastic Straps Market, by End User, 2022 - 2028
      • 7.5.1 Latin America Plastic Straps Market, by End User, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Plastic Straps Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Plastic Straps Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Plastic Straps Market, by Type, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Plastic Straps Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Plastic Straps Market, by End User, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Plastic Straps Market, by End User, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Polychem Corporation
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Crown Holdings
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Teufelberger
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Messersi Packaging
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 FROMM Packaging
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Dubose Strapping
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Auto Strap
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 PAC Strapping
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Scientex Berhad.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Plastic Straps Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Plastic Straps Market attractiveness, By Type
  • 6. Global Plastic Straps Market attractiveness, By End User
  • 7. Global Plastic Straps Market share by Type, 2022 and 2028 (USD Billion)
  • 8. Global Plastic Straps Market by Polyester Straps, 2022 - 2028 (USD Billion)
  • 9. Global Plastic Straps Market by Polypropylene Straps, 2022 - 2028 (USD Billion)
  • 10. Global Plastic Straps Market by Nylon Straps, 2022 - 2028 (USD Billion)
  • 11. Global Plastic Straps Market by Others, 2022 - 2028 (USD Billion)
  • 12. Global Plastic Straps Market share by End User, 2022 and 2028 (USD Billion)
  • 13. Global Plastic Straps Market by Steel, 2022 - 2028 (USD Billion)
  • 14. Global Plastic Straps Market by Cotton, 2022 - 2028 (USD Billion)
  • 15. Global Plastic Straps Market by Paper, 2022 - 2028 (USD Billion)
  • 16. Global Plastic Straps Market by Fiber, 2022 - 2028 (USD Billion)
  • 17. Global Plastic Straps Market by Bricks & Tiles, 2022 - 2028 (USD Billion)
  • 18. Global Plastic Straps Market by Others, 2022 - 2028 (USD Billion)
  • 19. Global Plastic Straps Market share, by Region, 2022 and 2028
  • 20. North America Plastic Straps Market, 2022 - 2028 (USD Billion)
  • 21. Europe Plastic Straps Market, 2022 - 2028 (USD Billion)
  • 22. Asia Pacific Plastic Straps Market, 2022 - 2028 (USD Billion)
  • 23. Latin America Plastic Straps Market, 2022 - 2028 (USD Billion)
  • 24. The Middle-East and Africa Plastic Straps Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Plastic Straps Market: Snapshot
  • 2. Drivers of the Plastic Straps Market: impact analysis
  • 3. North America Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 4. North America Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 5. U.S. Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 6. U.S. Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 7. Canada Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 8. Canada Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 9. Europe Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 10. Europe Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 11. Germany Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 12. Germany Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 13. France Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 14. France Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 15. U.K. Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 16. U.K. Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 17. Italy Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 18. Italy Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 19. Spain Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 20. Spain Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 25. China Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 26. China Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 27. Japan Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 28. Japan Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 29. India Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 30. India Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 31. South Korea Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 32. South Korea Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 37. Latin America Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 38. Latin America Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 39. Brazil Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 40. Brazil Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 41. Mexico Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 42. Mexico Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 49. South Africa Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 50. South Africa Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Plastic Straps Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Plastic Straps Market revenue, By End User, 2022 - 2028 (USD Billion)

Methodology

Free 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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FrequentlyAsked Questions

Automobile production is rapidly increasing across the world, for instance, Malaysian passenger vehicle manufacturing climbed by 2.6 percent in 2019. China is the world's largest automotive market, with the Chinese government expecting 35 million automobiles to be produced by 2025. The number of automobile manufacturers is rapidly increasing in the Indian market. Furthermore, Plastic straps, such as polyester straps, are chosen over paper straps for packing building supplies because they have more flexibility and weather resilience, and they work well under stress loading. As a result, they're utilized to pack building materials including clay bricks, plasterboards, roofing tiles, lumber, plywood, and chipboard. The rate of building construction has increased tremendously in developing countries such as China, India, and Africa which is strongly supporting the demand for plastic straps.

According to the Zion Market Research report, the global plastic straps market was worth about 2.39 (USD billion) in 2021 and is predicted to grow to around 6.85 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 15.9 percent.

Due to increased demand for plastic straps from the automobile, food and beverage, paper, and electronics industries, the Asia-Pacific region had the highest share of the global plastic straps market in 2021, which accounts for up to 45 percent of the global market. Flourishing paper industry in Japan, electronic industries in India, and automobile, consumer goods, and packaging sectors in China, the regional plastic straps market expanded significantly.

Major players operating in this highly fragmented global plastic straps market include Polychem Corporation, Crown Holdings, Teufelberger, Messersi Packaging, FROMM Packaging, Dubose Strapping, Auto Strap, PAC Strapping, and Scientex Berhad.

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