The global strapping supplies market is estimated to create a value of US$ 4.6 Billion in 2022. The sales of the strapping supplies are projected to propel at 5.3% CAGR between 2022 and 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 Strapping Supplies Market encompasses a wide range of products used for securing and bundling items together. These supplies are commonly made from materials like steel, polyester, polypropylene, and composite materials. Strapping supplies offer exceptional strength and flexibility, ensuring the integrity of packaged goods during transportation and storage.
The market for strapping supplies is influenced by factors such as the rise in e-commerce activities, growing industrialization, and the need for sustainable packaging solutions. The market is highly competitive, with numerous players vying to cater to the diverse needs of industries such as logistics, food and beverage, pharmaceuticals, and manufacturing.
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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.
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 Billion 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
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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 construction sites is expected to fuel the growth of the strapping supplies market.
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.
Market Trends and Opportunities
The Strapping Supplies Market is characterized by several notable trends that shape its growth trajectory. By keeping a close eye on these trends, businesses can position themselves strategically and capitalize on emerging opportunities. Let’s explore some of the key trends and opportunities in the market:
Rising Demand for Eco-Friendly Strapping Solutions
In recent years, there has been a growing emphasis on sustainable packaging solutions. This trend has spurred the demand for eco-friendly strapping supplies made from recycled or biodegradable materials. Market players who focus on offering environmentally friendly options have a competitive edge in today’s market landscape.
Technological Advancements in Strapping Equipment
Advancements in strapping equipment, such as automated strapping machines and innovative tool designs, are revolutionizing the Strapping Supplies Market. These technological developments enhance packaging efficiency, reduce labor costs, and minimize the risk of product damage. Manufacturers investing in research and development can leverage these advancements to stay ahead of the competition.
Increasing Application in E-commerce Packaging
The rapid growth of e-commerce has significantly influenced the demand for efficient and secure packaging solutions. Strapping supplies play a crucial role in ensuring the safe transportation of goods ordered online. As e-commerce continues to thrive, the market for strapping supplies is poised for substantial growth.
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