Plastic Straps Market to grow by USD 1,047.69 Million from 2023 to 2027 | Emergence of bioplastics drives market.

NEW YORK, Aug. 9, 2023 /PRNewswire/ -- The Global Plastic Straps Market is experiencing strong growth due to the rising demand for efficient and secure packaging solutions across industries. Polyester straps have emerged as a popular alternative to steel strapping, addressing corrosion and quality issues. The plastic straps market size is estimated to grow at a CAGR of 14.02% between 2022 and 2027. The market size is forecast to increase by USD 1.047.69 million. plastic straps market report covers a comprehensive segmentation based on end-users, types, and geography. The types of plastic straps analyzed include polypropylene straps, polyester straps, and nylon, among others. Geographically, the market is divided into North America, APAC, Europe, South America, and the Middle East and Africa. Additionally, the report includes historic market data from 2017 to 2021, providing valuable insights for companies to refine their marketing strategies and gain a competitive edge. Click here to view the report.

Technavio's research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Auto Strap India
• CORDSTRAP BV
• Crown Holdings Inc.
• Cyklop International
• DuBose Strapping Inc.
• Duravant LLC
• HANGZHOU YOUNGSUN INTELLIGENT EQUIPMENT CO. LTD.
• LINDER GmbH
• Mitsubishi Chemical Group Corp.
• Mosca GmbH
• PAC Strapping Products Inc.
• Plastex Extruders Ltd.
• Ruparel Polystrap Pvt. Ltd.
• S.K. INDUSTRIES INDORE

Key takeaways of the Plastic Straps Market report:

• Polyester Straps Growth: The emergence of polyester straps as a viable alternative to traditional steel strapping is a significant driver of market growth, offering superior corrosion resistance and quality preservation during packaging and logistics.
• Environmental Challenges: The market faces challenges related to plastic waste and pollution, prompting governments and environmental agencies to impose stricter regulations, and encouraging companies to explore sustainable practices.
• Opportunity for Innovation: Companies in the market are employing strategic alliances, partnerships, and product launches to enhance their presence and gain a competitive edge, with a focus on offering eco-friendly options to meet evolving customer demands.
• APAC Market Dominance: The APAC region is expected to contribute significantly to the market's growth, driven by the logistics industry's demand for plastic straps in product shipments and the region's economic recovery.
• Sustainability Focus: The market is witnessing a significant growth towards bioplastics, with growing demand for eco-friendly and biodegradable plastic products in the packaging industry. Companies are increasingly investing in bio-based materials to reduce carbon emissions and support waste management initiatives. To get an insight into the Plastic Straps Market drivers and trends, download the sample report here.

The plastic straps market is poised for remarkable growth in the coming years, driven by the rise of polyester straps and the increasing demand from the packaging and construction industries. However, environmental concerns regarding plastic waste and pollution remain significant challenges. To sustain growth, companies should focus on adopting eco-friendly practices and investing in research and development to enhance biodegradable options. Buy the report to get full insights into the Plastic Straps Market and make informed decisions.

Below, find a few related reports:

Polyester Straps Market: The polyester straps market share is expected to increase by USD 1.15 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 16.02%. polyester straps market segmentation by grade type (machine grade and hand grade) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

Plastic Caps and Closures Market: The plastic caps and closures market is estimated to grow at a CAGR of 5.2% between 2022 and 2027. The market size is forecasted to increase by USD 13,141.31 million.  market segmentation by end-user (food and beverages, cosmetics and personal care products, pharmaceuticals, and others), type (polypropylene, polyethylene, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

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SOURCE Technavio