Market Overview:

The global strapping materials market reached a value of US$ 6.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.91 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

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, along with forecasts at the global, regional and country level from 2022-2027. 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.

Report Coverage:

Key Questions Answered in This Report:

• How has the global strapping materials market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global strapping materials market?
• What are the key regional markets?
• What is the breakup of the market based on the material?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global strapping materials market and who are the key players?
• What is the degree of competition in the industry?