The global polyester straps market is anticipated to reach a valuation of US$ 1.0 billion i n 2023, driven by shift towards sustainable packaging solutions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.4% between 2023 and 2033, and reaching a total valuation of approximately US$ 2.1 billion by 2033.
One of the major factors contributing to the growth of the polyester straps market is the increasing demand from industries such as logistics, e-commerce, and construction. The sectors require reliable and high-performance strapping solutions to secure heavy loads, pallets, and bundles. Polyester straps provide excellent tensile strength and can withstand significant tension, making them ideal for securing heavy and bulky items. The lightweight nature of polyester straps makes them easy to handle and reduces transportation costs.
The technological advancements in strap manufacturing processes are propelling the growth of the polyester straps market. Manufacturers are investing in research and development to improve the properties and performance of polyester straps. Advanced manufacturing techniques and innovations in polymer engineering have led to the development of straps with higher tensile strength, better elongation characteristics, and improved resistance to external factors. The advancements are driving the adoption of polyester straps as they offer superior load containment, enhanced safety, and increased efficiency in packaging operations.
The globalization of trade and the expansion of the e-commerce industry are also significant drivers of the polyester straps market. There is a growing need for secure and reliable packaging solutions, with the increasing volume of goods being transported globally. Polyester straps provide strong and reliable bundling and palletizing options for the safe transportation of goods, ensuring that they reach their destination intact. The growth of e-commerce platforms and the rising demand for online shopping have further boosted the demand for polyester straps as they are essential for the secure packaging of products during shipping.
Key Takeaways from the Market Study
- Global polyester straps market was valued at US$ 973 million by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.2%.
- India is expected to hold a dominant CAGR of 8.5% during the forecast period.
- By thickness, the 5mm to 15mm mm segment is expected to constitute a CAGR of 7.3% in 2033.
- On the basis of application, bundling segment is expected to dominate the market with a CAGR of 7.2% in 2033.
- From 2023 to 2033, polyester straps market is expected to flourish at a CAGR of 7.4%.
- By 2033, the market value of polyester straps is expected to reach US$ 2.1 billion.
Advancements in packaging automation, across the globe is a major factor that is expected to propel the growth of the polyester straps market in the near future, remarks an FMI analyst.
Prominent players in the polyester straps market are Teufelberger holding ag, Samuel Strapping Systems, FROMM Packaging Systems Inc., Mosca GmbH, Industrial Yarns Pty Ltd., Linder GmbH, The Plastic Strapping Company Ltd, Northshore Strapping Company, Plastic Extruders Ltd., National Webbing Products, Campanini UGO S.P.A, Signor limited, Consent LLC, Narrowtex Pty (Ltd.), Universal Strapping Inc., Mil-Spec Packaging, Bowmer Bond Narrow Fabrics Limited, Nottingham Narrow Fabrics Ltd, DAE YANG STRAPS CO., LTD, and Johnson Plastics & Supply
Recent Developments:
- In January 2022, Dynaric Inc. launched its advanced polyester strapping machine, equipped with cutting-edge technology for efficient and precise strapping operations. The machine offers fast strapping speed, high tension capability, and automatic tension adjustment, improving productivity and ensuring optimal performance in various packaging applications.
- In September 2021, PAC Strapping Products, Inc. introduced its new line of polyester strapping with enhanced break strength and improved tensile properties. The new strapping products are designed to provide superior load containment and security for a wide range of applications, including palletizing, bundling, and unitizing.
- In October 2021, Yongsun Industrial Co., Ltd. introduced its new range of embossed polyester strapping. The embossed surface of the strapping provides enhanced grip and friction, ensuring secure bundling and preventing slippage during transportation.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/3425
Key Segments Profiled In the Global Polyester Straps Market
By Thickness:
- Below 0.5mm
- 0.5mm-0.75mm
- 0.76mm-1mm
- Above 1mm
By Packing Grade:
- Hand Grade Polyester Straps
- Machine Grade Polyester Straps
By Width:
- 5mm-15mm
- 16mm-25mm
- 26mm-35mm
- Above 35mm
By Breaking Strength:
- Up to 220kg
- 221kg to 300kg
- 301kg to 500kg
- 501kg to 1,000kg
- Above 1,000kg
By End Use Industry:
- Food & Beverage
- Pharmaceuticals
- Electronics & Electricals
- Automotive
- Construction & Allied Industries
- Paper & Allied Industries
- Textiles & Apparels
- Chemicals & Fertilizers
- Others
By Application:
- Heavy Duty Bailing
- Bundling
- Palletizing
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube