SAN FRANCISCO, January 11, 2018
SAN FRANCISCO, January 11, 2018 /PRNewswire/ --
The global strapping materials market is expected to reach USD 7.5 billion by 2025, at a 5.8% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The advantage of recycling pretend by plastic strapping materials makes it a sustainable packaging substitute, which is expected to drive market growth over the coming years.
Polypropylene was the largest material segment in terms of revenue in 2016 and the trend is projected to continue with a CAGR of 6.2% over the forecast period. Its property of high elongation recovery is expected to boost market growth over the forecast period.
Plastic strapping is a durable alternative to conventional packaging materials namely glass, aluminum, and tin, which are used in the food and beverage industry. The flexibility of plastic allows manufacturers to customize shape, size, and any other specification as per the packaging requirement of a customer. Plastic strapping also helps save packaging space compared to conventional packaging. It also offers damage protection as it is compliant with cargo securement standards defined by regulatory bodies in developed economies of North America and Europe.
Demand for strapping materials will be driven by growth in industries such as food and beverages, industrial logistics and warehouse, and corrugated cardboard and paper in developed economies including U.S., Germany, and U.K.
Leading global players, such as Mosca GmbH, Cyklop International, and Strapack, Inc., have a significant presence in North America and European countries and are further working toward expanding their operations in Asia Pacific. As strapping materials are increasingly used in corrugated cardboard and paper, food and beverages, industrial logistics and warehousing, and building and construction industries owing to their niche characteristics, they are anticipated to offer growth opportunities to key market players over the forecast period.
Browse full research report with TOC on "Strapping Materials Market Analysis, By Materials (Steel, Polypropylene, Polyester), By Application (F&B, Industrial Logistics, Construction), By Region, And Segment Forecasts, 2014 - 2025" at: https://www.grandviewresearch.com/industry-analysis/strapping-materials-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global strapping materials market on the basis of type, application, and region.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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