Global Plastic Straps Market to 2030: Rising Development of Bio-based Plastics for Plastic Straps Drives Growth

DUBLIN, April 19, 2023 /PRNewswire/ -- The "Plastic Straps Market Size, Share, Trends, By Type , By End-Use Industry , and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The plastic straps market size globally was USD 2.80 billion in 2021 and is expected to grow at a revenue CAGR of 15.1% during the forecast period.

Companies Mentioned

• American Strapping Company
• Jairam Strap Pvt. Ltd.
• Signode Industrial Group LLC
• Changsha Zili Packing Materials Co. Ltd
• TIGER(Xiamen) X-M CO. LTD
• Sekisui Jushi Strapping B.V.
• Fabri-Tech Components Inc.
• Mil-Spec Packaging of GA Inc.
• Classic Packaging Corporation
• Plastex Extruders Ltd.

The market is primarily driven by the growing packaging industry and rising demand for plastic straps in e-commerce, online delivery, and heavy materials delivery in various industries such as logistics, supply chain, construction, and manufacturing. The trend of online shopping and the launch of different online shopping platforms have increased the demand for plastic straps as consumers prefer custom packaging and protective packaging with recyclable materials.

The lightweight, ease of handling, high flexibility, high tensile strength, and significant elongation properties of plastic straps make them applicable in various end-use industries. The air and military transport sectors are also experiencing growth, leading to rising demand for plastic straps for the supply of ammunition and other heavy products.

The expansion of airports worldwide, the growth of the e-commerce sector, and the use of cost-effective and sustainable polypropylene resin in manufacturing plastic straps are also contributing to market expansion. Demand for plastic straps is expected to increase as the number of massive freighters operating continuously grows.

Market Dynamics:

Driver:

Growing development of bio-based plastics for plastic straps

The increasing focus on sustainability and environmental responsibility has prompted consumers to seek alternative solutions. This has also motivated packaging manufacturers to introduce bio-based materials in various industries, including packaging.

One such company is Jairam Strap, based in India, which offers a range of one-stop packaging solutions, such as PET straps, PP straps, composite straps, stretch film, and equipment, among others. The rising demand for these products is attracting a larger customer base and driving market revenue growth globally.

Furthermore, the COVID-19 pandemic has resulted in more online purchases, positively impacting the packaging industry and contributing to the growth of the plastic straps market. Other packaging manufacturers are also investing in innovation for bio-based plastic straps that are sustainable and environmentally friendly.

However, the growth of the plastic straps market is hindered by the increasing environmental awareness among consumers who seek to reduce plastic consumption to maintain environmental balance. Furthermore, many countries are expanding their recycling capacity to address environmental issues, which could limit the demand for plastic straps in the packaging industry.

For example, ALPLA Group announced the expansion of its PET recycling capacity in Germany on March 8, 2022, which has a capacity of around 75,000 tons per year, leading to a reduction in the production of plastic straps in the region.

Key Topics Covered:

 Chapter 1. Market Synopsis

 Chapter 2. Executive Summary

 Chapter 3. Indicative Metrics

 Chapter 4. Plastic Straps Market Segmentation & Impact Analysis
4.1. Plastic Straps Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver analysis
4.2.2.1. Growing development of bio-based plastics for plastic straps
4.2.2.2. Cost-effective, lightweight packaging solution
4.2.3. Market restraints analysis
4.2.3.1. Expansion of PET recycling capacity and rising environmental awareness
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Price trend Analysis
4.6. Customer Mapping
4.7. COVID-19 Impact Analysis
4.8. Global Recession Influence

 Chapter 5. Plastic Straps Market By Type Insights & Trends

 Chapter 6. Plastic Straps Market By End-Use Industry Insights & Trends

 Chapter 7. Plastic Straps Market Regional Outlook

 Chapter 8. Competitive Landscape

 Chapter 9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/b8i9a9

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