Asia-Pacific Plastic Straps Market Growth Analysis, Opportunities, Development and Demand Forecast to 2032

 

Plastic straps are used for binding products or items and made from polypropylene and polyester. They are available in different finishes and styles as per the strength of the container. Elongation of straps, their reusable nature, and its application for paper, lumber, and fresh produce are prime uses of plastic straps. The global Asia-Pacific Plastic Straps Market report by Market Research Future (MRFR) provide a comprehensive picture of the industry and includes drivers, challenges, opportunities, and trends for the period of 2022-2030 (forecast period). The sudden outbreak of the COVID-19 virus and its effects on the industry are explored in the report.

MRFR recognizes the following companies as the key players in the global- Plastic Straps Companies

  • Crown Holdings of the United States
  • Scientex Berger of Malaysia
  • Polychem Corporation of the United States
  • Teufelburger of the Australian region
  • PAC Strapping of the United States
  • Auto Strapping of India
  • Dubose Strapping of the United States
  • FROMM Packaging of the United States
  • Messersi Packaging of Italy and many more.

Market Scope

The The Plastic Straps Market Size was valued at USD 2.91 Billion in 2023. The Plastic Straps market industry is projected to grow from USD 3.19 Billion in 2024 to USD 7.07 Billion by 2032, reveals Market Research Future (MRFR.

The market is poised for massive growth owing to the increasing use of plastic straps in steel, paper, and bricks & roofing tiles. Its lightweight nature and flexibility in usage can drive the market demand during the forecast period. The reusable and cost-friendly nature of plastic products for wrapping products can bode well for the market. The huge potential in China and India owing to being industrial hubs for all types of goods can induce heavy demand in the market.

But the hazardous nature of plastic straps can impede the market growth.

Segmentation

The global Asia-Pacific Plastic Straps Market is segmented by type and end-user.

By type, the Asia-Pacific Plastic Straps Market can be segmented into polyester straps, Plastic Straps Market Size, nylon straps, and others. Polyester straps are expected to lead the market owing to being safe and lighter than steel straps. Its flexible nature allows the material to bear the load and absorb impact. On the flip side, the polypropylene straps segment can acquire significant earnings for the global Asia-Pacific Plastic Straps Market owing to its flexibility, high tensile strength, and ease of handling.

Based on end-user, the Asia-Pacific Plastic Straps Market can be segmented into steel fiber market, cotton, paper, fiber, bricks & tiles, and others. The paper industry can be a huge revenue generator for the market owing to plastic straps being able to handle large loads of paper. Its high break strength and tension retention for keeping paper goods secure and superior shock resistance can drive the segment growth.

Regional Analysis

Region-specific analysis of the global Asia-Pacific Plastic Straps Market encompasses North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

The APAC region is, at present, dominating the market by a considerable margin. The region has immense potential to retain the position in the coming years and display the fastest CAGR during the forecast period. Emerging nations such as China and India are spurring the demand for plastic straps as growing industries are increasing their demand for the product to cut down the logistics cost and increasing bottom margins. The increasing purchasing power of the middle class can drive the regional demand for plastic straps.

North America possesses the potential for the growth of the global Asia-Pacific Plastic Straps Market owing to large FMCG and manufacturing companies in the U.S. and Canada. The use of straps for bundling and packaging engineering components, construction materials, and other heavy loads over time can fuel the regional market growth.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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