The global packaging straps and buckles market was valued at around US$ 3.4 Bn in 2021. Packaging straps and buckles sales are projected to increase at a healthy CAGR of 5.0%, reaching a valuation of US$ 5.7 Bn by 2032.
Demand in the packaging straps and buckles market increased at a CAGR of 3.6% between 2015 to 2021, and sales are projected to increase by 1.6 times during the forecast period.
Increasing cross-border trade has considerably propelled the volume of goods for import and export. Also, the geographic expansion of the customer base has led to the use of shipping agencies for the transportation of goods. The high level of recovery and elongation makes strapping and buckling ideal for packaging products that are susceptible to shifting.
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What are the key trends driving packaging straps and buckles sales?
Construction expansion, particularly in developing countries such as India, China, and Brazil, is driving up demand for packing straps and buckles. Strapping material is in high demand to enable the movement of commodities and raw materials to building sites.
Straps are applied to the product manually, with a tensioner tool, or automatically with a strapping machine. These instruments are used to secure a package by tightening and fastening flat steel bands around it. As a result, rising demand from the construction industry will propel the market forward in the approaching years.
Competitive Landscape
Key players operating in the global packaging straps and buckles market are using a variety of marketing techniques, including acquisitions, expansions, and partnerships. They are also focusing on new product launches to expand their presence. Some of the recent developments in the market are:
- In July 2020, FROMM announced its new Smart S-series, a battery-driven 3 in 1 strapping tool for plastic straps it is armed with broadly verified advanced software with several smart features, comprising a wireless option.
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Key Companies Profiled
- M.J. MAILLIS GROUP
- Fromm Packaging Systems Inc.
- Nefab Packaging Inc.
- Caristrap International Inc.
- Signode Protective Packaging Solutions
- MESCORD
- VG Enterprises
- American Strapping Company
- Multitech Products Pvt. Ltd.
- SPECTA AG
- Future Packaging
- Global Strap CC
- Jiangsu Trumpstrap Packaging Technology Co., Ltd.
- Matco Packaging LLC
- Royal Packaging Industries
- Lifex
Packaging Straps and Buckles Market by Category
By Material Type:
- Plastic
- Steel
By Strength:
- Light Duty
- Medium Duty
- Heavy Duty
By End Use:
- Manufacturing Industry
- Logistics & Transportation
- Building & Construction
- E-commerce
- Household
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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