As per Future Market Insights (FMI), the strapping supplies market is expected to witness growth at a CAGR of 5.3% during the forecast period 2022-2032. Growth in the market is primarily attributed to growing demand for sterile and safe packaging in industries such as warehousing, electronics, food & beverage, and others.
The strap is applied either manually with a hand tool or with a strapping machine to ensure the safety of the product. A dispenser is used with both types of equipment to dispense the strap. There are manual and automatic hand tools. Manual packaging tensioners are used for low volumes and automatic tensioners are used for higher volume applications.
Strapping machines are used for special applications or high-volume applications. They are available in automatic and semi-automatic varieties. Strapping machines significantly improve warehouse efficiency as well as the overall presentation of a packaged product.
Strapping bands are used to secure bundles and boxes during packaging, storing and shipping products. They are applied using hand tools or strapping machines to seal the product tightly and prevent it from falling. Over the projected period, the use of straps in various industries is predicted to fuel market growth.
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Key Takeaways from Strapping Supplies Market
- In terms of product type, strapping machines segment is anticipated to generate an incremental opportunity of US$ 1.2 Bn during the forecast period of 2022-2032.
- Based on end use, logistics & warehousing segment is anticipated to have a prominent demand for strapping supplies.
- North America and East Asia are projected to be the leading regions for the global strapping supplies market.
- Rising demand in building & construction activities is expected to create an absolute Bn $ market opportunity for strapping supplies companies.
“The development of automated strapping machines, low cost-availability of strapping materials and their essential use in a wide variety of applications such as food & beverage, electronics and logistics is expected to drive the market. Hence, key players are leveraging their cost-effective and light-weight strapping machines to increase their revenue.”- says FMI analyst
Rapid Infrastructural and Industrial Development to Drive Strapping Supplies Market The construction industry is witnessing a rapid rise, as per FMI. According to Global Construction Perspectives and Oxford Economics global construction market is expected to grow by 85% to US$ 15.5 Tn by 2030 with three countries namely, the U.S., India and China accounting for 57% of all global growth.
With expanding industrialization and commercialization in emerging parts of the world, the logistics and transportation requirements to support the shipping of goods have increased dramatically. Thus, the rising need for strapping materials in order to facilitate the movement
of raw materials and goods to the construction sites is expected to fuel the growth of the strapping supplies market.
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Strapping Supplies Market Landscape
- Campanini UGO S.P.A,
- Teufelberger Holding AG,
- Narrowtex Pty (Ltd.),
- Consent LLC,
- National Webbing Products,
- DONGGUAN YALAN PACKING MATERIALS CO., LTD,
- Yu Chi Machinery Co. Ltd. (UGPACK),
- DAE YANG STRAPS CO., LTD,
- Universal Strapping Inc.,
- REISOPACK S.L.,
- Plastic Extruders Ltd.,
- Northshore Strapping Company,
- The plastic strapping company Ltd,
Linder GMBH, BONZOBAND Strapping Systems Ltd., MOSCA GMBH, Tosa Group, Samuel strapping systems Group, FROMM Packaging Systems Inc. and Dynaric, Inc.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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