PVC Packing Straps Market - Forecasts from 2024 to 2029

PVC Packing Straps Market - Forecasts from 2024 to 2029

The PVC packing straps market is expected to grow at a CAGR of 5.98% reaching a market size of US$567.016 million in 2029 from US$377.542 million in 2022.

PVC packing straps are a type of material used to hold, secure, hold together, or combine various objects. In the packing industry, these straps are sometimes referred to as strapping. Other industries where PVC packing straps are predicted to increase significantly include cotton, paper, and construction. The plastic strap business may profit from features including high tensile strength, flexibility, ease of handling, and low weight. The need for consumer electronics, medical devices, and pharmaceutical products is increasing along with the demand for strapping materials, which is driving the expansion of the plastic straps market.

The demand for PVC packing straps is predicted to increase in the packaging sector as well as in e-commerce, online delivery, and the transportation of heavy products across a range of sectors, including logistics, supply chain, construction, and manufacturing. The need for PVC packing straps to convey items and other things has recently increased due to the trend of online shopping and the expansion of online shopping platforms. Furthermore, the demand for PVC packing straps is being further fueled by several factors, including these straps' light weight, convenience of use, and high flexibility.Click here

Rising demand in the automotive industry

Automobile parts such as wheels, parts, body panels, instruments, and replacement parts need to be packaged and secured to the best possible and reliable degree in order to avoid damage or manufacturing delays. Plastic straps therefore aid in preventing damage to car parts during handling, transportation, and storage. China has the largest automobile market in the world, according to the International Trade Administration (ITA), and the Chinese government expects car production to reach 35 million by 2025. The Organization Internationale des Constructeurs d'Automobiles (OICA) reports that passenger car production in Africa increased 1.3% from 776,967 in 2018 to 787,287 in 2019. More plastic straps would be needed for packaging automotive components as a result of increased automated production, driving the market

Increasing use in the industrial sector

act of strapping is fastening a strap to something in order to strengthen, stabilize, hold, unite, or secure it. Another name for it is bundling and banding. The packaging industry is the one that uses strapping the most. Plastic straps are becoming more and more necessary in the industrial logistics and storage sector because packaging plays a significant role in these processes. For additional environmental stability, UV-stable grades of plastic strapping can be used for outdoor storage. Due to its efficient performance and cost-saving features, which are expected to accelerate segment revenue development, this is becoming more and more popular than competing products.

Expanding construction industry

The global construction sector is expanding quickly, especially in nations like China, India, Saudi Arabia, Indonesia, and others. During the projected period, the market for PVC packing straps is anticipated to rise due to the increasing need for strapping materials to help convey commodities and raw materials to construction sites. For building material packaging, latex straps, such as polyester straps, are recommended over paper straps because of their higher elasticity, ability to withstand weather, and ability to function well under shock loading. As a result, they are employed in the packaging of building supplies, including plywood, chipboard, plasterboard, roofing tiles, and clay bricks.

Rising e-commerce industry

The e-commerce industry is a key engine for the shipping industry, which is increasing demand for these packaging solutions on the international market. PVC packing straps are made from polypropylene resin, which is also lightweight and is a cheap packaging material; as a result, the straps are economical and long-lasting for packing large items.

Moreover, the developing packaging, logistics, and construction industries have been highlighted as the primary growth drivers in the plastic straps market. There has been a sharp increase in the need for logistics and transportation due to the expanding industrialization and commercialization in emerging regions of the world. Strapping materials are frequently utilized to fasten or hold the products during the transportation of the commodities from manufacturing facilities to market areas.

North America is witnessing exponential growth during the forecast period

The Plastic Straps Market in North America has the greatest revenue share. The need for PVC straps in this region is rising as a result of improvements in the sustainability of hauling large objects over long distances. Growing public awareness is also motivating manufacturers of packaging to create sustainable bioplastic for use in packaging. Greater interoperability with other hand tools and machinery used in the packing sector is projected to drive this market's revenue growth. The need for plastic straps used to move goods from one location to another is rising as a result of the flourishing e-commerce industry, rising propensity for online shopping, and home delivery.

Product Offerings
Megaband hand grade, Polychem: Megaband hand grade is a PVC packing strap that is offered by Polychem corporation. It is a low-stretch polypropylene strapping that has good recovery characteristics. It is also tough and highly resistant to impact and offers superior break strength.
PET STRAP - 9.5 MM (PET09510054), Mosca: PET strapping is very tensile and tear-resistant at the same time. They can support weights of between 185 and 580 kg, depending on breadth, and successfully absorb shocks during transit. PET strapping has strict manufacturing tolerances and is offered in widths ranging from 9.5 to 15.5 millimetres. Since it is made entirely of recyclable plastic bottles, it may be simply recycled after use. It is highly stable for the best load security. A high machine availability is guaranteed by its consistently excellent quality.

Market key launches
In October 2023, A ready-to-use strap with 30% recycled content has been developed by Repsol and Signode for high-tenacity applications. The strap is made of a polypropylene (PP) compound. The substance is included in Repsol's Reciclex line of products. Its production process employs mechanically recycled post-consumer domestic plastic waste, which is said to reduce the product's carbon footprint by nine percent. Repsol installed a new Reciclex production line at its Puertollano Industrial Complex in Spain earlier this year with an investment of €26 million.

Segmentation:

By Thickness
Below 0.5 mm
0.5 mm to 0.75 mm
0.76 mm to 1 mm
Above 1 mm
By End-User
Food and Beverages
Pharmaceutical
Electrical and Electronics
Automotive
E-Commerce
Others
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
Japan
China
India
South Korea
Taiwan
Thailand
Indonesia
Others