Global Plastic Straps Market: Overview
Plastic straps are generally made of polypropylene, polyester, etc. These straps can be obtained in different types based on styles, finishes, and strengths. Recovery and elongation are key factors when choosing the type of plastic straps to buy. Increasing popularity of plastic straps is related to the various properties of these straps, which includes lightweight, corrosion resistant, etc.
Global Plastic Straps Market: Growth Factors
The major growth driver in the global plastic straps market is the rise in the demand of plastic straps in various industries, such as bricks and tiles, steel, paper, cotton, etc. This demand is due to the various characteristics of plastic straps, which includes lightweight, ease of handling, and flexibility. In developing countries, like China and India, the disposable income and purchasing power of the middle-class is increasing. This leads to expansion of various industries that use plastic straps. This is another factor that is fuelling the growth of the global plastic straps market. Paper industry mostly uses plastic straps for bundling varied items, like newspapers and magazines, for ease of shipping and handling. All these factors among several others are fuelling the growth of the global plastic straps market.
Some factors hinder the growth of the global market for plastic straps. The price of raw materials, such as additives, polymers, etc., that are used in the manufacturing process of plastic straps fluctuate.
Global Plastic Straps Market: Segmentation
The global market for plastic straps can be divided based on product type and end-use industries. On the basis of product type, the plastic straps market can be classified into polypropylene straps, polyester straps, and nylon straps, among others—woven straps, composites straps, corded straps, and paper straps. Due to polypropylene straps’ beneficial properties, such as high flexibility, tensile strength, and exceptional corrosion resistance, this product type is expected to show good growth rate in the upcoming years. Based on the end-use industries, the market for plastic straps is divided into steel, paper, fiber, steel and tiles, and cotton, among others—corrugated and print boards. Cotton industry has better growth prospects as compared to other industries due to the various properties of plastic straps, such as high tensile strength, easy recyclability, improved corrosion resistance, etc.
Global Plastic Straps Market: Regional Analysis
Based on regions, the global plastic straps market can be divided into five main regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The Asia Pacific region is anticipated to hold a substantial share of the global plastic straps. This is due to the growing purchasing power and increasing disposable income of the middle-class population in the developing economies, such as India and China. This, in turn, fuels the growth of various end-use industries, like steel, paper, cotton, fiber, steel and tiles, etc. of the plastic straps market in this region. The North American and European markets for plastic straps are also expected to show a steady growth rate.
Global Plastic Straps Market: Competitive Players
The key market players of the global plastic straps market include Polychem Corp., PAC Strapping, FROMM Packaging, Teufelberger, Dubose Strapping, Messersi Packaging, Auto Strap, and Crown Holdings, among several others.
Global Plastic Straps Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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