The plastic straps market is projected to grow at a CAGR of 16.20% to reach US$4.248 billion by 2024, from US$1.726 billion in 2018. Strapping is defined as using a flat material to bundle items together to hold them in place. Plastic straps are widely used in industries such as packaging, construction, lumber and printing due to their elongation recovery. Affordability, durability, and variety of applications are the key factors that are driving their demand in various industries. Burgeoning e-commerce industry is boosting the demand for plastic straps in packaging and shipment. The market is expected to grow at a steady pace owing to its growing penetration in industries such as agriculture.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the plastic straps value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the plastic straps market.
Major industry players profiled as part of the report are Contimeta B.V., Signode, Polychem Corporation, FROMM Group, Dynaric Inc, R. C. Packaging Systems, LLC, M.J. MAILLIS GROUP, PAC Strapping Products, Inc., Auto Strap India, and Acorn.
The plastic straps market has been analyzed through following segments:
By End-User Industry
Middle East and Africa