Strapping Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Strapping Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global strapping materials market size reached US$ 6.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.86% during 2023-2028.

Strapping refers to a way of reinforcing and bundling products like cartons, newspapers, pipes, lumbers and concrete blocks by bands, metal straps or wires for easy handling and shipping. It is also utilized for closing corrugated boxes and shipping containers; holding bales of agricultural products or textiles; attaching items to pallets, skids, and crates; and securing a unit load of bricks, packaged glass, and metal parts. At present, there is a rise in the demand for strapping materials in the food and beverage (F&B) industry for providing a cost-efficient manner of unitizing, packaging, and palletizing food products across the globe.

Strapping Materials Market Trends:
The growing utilization of strapping materials in industrial logistics for bundling products together and securing pallet loads during transportation and storage represents one of the key factors driving the market. Moreover, there is an increase in the employment of steel straps in the construction industry as they have high tensile strength, hot temperature resistance, and extreme durability, which is suitable for packaging metal. This, along with the rising applications of plastic strapping in the print industry due to its elongation and recovery aspects, is propelling the growth of the market. In addition, many capital venture companies and investment firms are investing in strap manufacturing to add novel features during the process. This, coupled with technological advancements, such as automatic strapping machines, is offering lucrative growth opportunities to end-users and industry investors. Besides this, the e-commerce industry relies on corrugated cardboard and paper as a retail-ready packaging option to protect goods from damage and vibration. This, along with the increasing reliance on online retail outlets, is positively influencing the market.


Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global strapping materials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material and application.

Breakup by Material:

Steel
Polypropylene
Polyester

Breakup by Application:

Industrial Logistics and Warehouse
Food and Beverage
Corrugated Cardboard and Paper
Newspaper and Graphics
Building and Construction
Metal

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Crawford Packaging Inc., Cyklop Gmbh, Dynaric Inc., Martin Packaging Limited, Mosca GmbH, Plastofine Industries, Polychem Corporation, Signode Industrial Group LLC (Crown Holdings Inc.), Strapack Corporation, Tesa Tapes (India) Private Ltd., TITAN Umreifungstechnik GmbH & Co. KG and Unipack Trading Inc.

Key Questions Answered in This Report

1. What was the size of the global strapping materials market in 2022?
2. What is the expected growth rate of the global strapping materials market during 2023-2028?
3. What are the key factors driving the global strapping materials market?
4. What has been the impact of COVID-19 on the global strapping materials market?
5. What is the breakup of the global strapping materials market based on the material?
6. What is the breakup of the global strapping materials market based on the application?
7. What are the key regions in the global strapping materials market?
8. Who are the key players/companies in the global strapping materials market?