NEW
YORK, Aug. 1, 2024 /PRNewswire/ -- The
global polyester straps market size is estimated to grow by
USD 1.21 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 16.6% during the forecast period. Polyester straps have emerged
as a viable option to steel strapping is driving market
growth, with a trend towards flourishing e-commerce
industry encouraging demand. However, alternatives such as
polypropylene strapping are hamperinggrowth of polyester straps
market poses a challenge. Key market players include Auto Strap
India, Campanini ugo Srl, CONSENT Group, Crown Holdings Inc., DAE
YANG STRAPS, DuBose Strapping Inc., Fromm Holding AG, GREENBRIDGE,
Industrial Yarns Pty Ltd., LINDER GmbH, Messersi Packaging Srl,
Mosca GmbH, Narrowtex Pty Ltd., National Webbing Products Co.,
North Shore Strapping Inc., Plastex Extruders Ltd., Samuel Son and Co. Ltd., Teufelberger Holding
AG, Plastic Strapping Co. Ltd., and UNIVERSAL STRAPPING Corp..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Grade Type (Machine
grade and Hand grade) and Geography (APAC, North America, Europe,
South America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Auto Strap India,
Campanini ugo Srl, CONSENT Group, Crown Holdings Inc., DAE YANG
STRAPS, DuBose Strapping Inc., Fromm Holding AG, GREENBRIDGE,
Industrial Yarns Pty Ltd., LINDER GmbH, Messersi Packaging Srl,
Mosca GmbH, Narrowtex Pty Ltd., National Webbing Products Co.,
North Shore Strapping Inc., Plastex Extruders Ltd., Samuel Son and
Co. Ltd., Teufelberger Holding AG, Plastic Strapping Co. Ltd., and
UNIVERSAL STRAPPING Corp.
|
Key Market Trends Fueling Growth
The e-commerce industry's growth is driving significant changes
in various sectors, including textiles and electronics. Online
shopping's convenience has led to a shift from traditional
purchasing methods. E-commerce simplifies business transactions,
optimizes distribution channels, and reduces transaction costs.
Moreover, the global credit payment system's development simplifies
payments and minimizes risks. In the realm of e-commerce, effective
packaging is crucial for brand equity and customer loyalty.
Corrugated boxes, secured with polyester straps, ensure product
safety during transportation. Consequently, the global polyester
straps market is poised to expand due to the e-commerce sector's
growth. This trend is expected to continue during the forecast
period.
The Polyester Straps Market is witnessing significant trends in
various industries such as Electronics, Construction, Textiles, and
Food & Beverage. Brands are focusing on profit margins by
differentiating their products through custom-printed polyester
straps, enhancing brand visibility. Logistical partners play a
crucial role in supply chain operations, ensuring cargo safety and
timely delivery. Environmental sustainability is a key concern,
with manufacturers turning to recycled polyester straps and
circular economy solutions. Lightweight polyester straps offer cost
savings and reduced carbon emissions. Safety precautions are
essential in strap manufacturing, with packing grade, width, break
strength, and thickness being critical factors. Electrical,
Chemical, and Fertilizer industries also utilize polyester straps
for bundling and packaging. The future market growth depends on the
analysis period, consumer attention, and the ability to meet
specific industry requirements. Strap manufacturers must adhere to
safety standards and offer sustainable, recyclable materials to
meet the evolving needs of their clients.
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Market Challenges
- Polypropylene strapping serves as an affordable option for
moderate-duty applications, including bundling, unitizing, and
palletizing. Applications for polypropylene strapping span across
various industries, such as newspapers, magazines, food goods,
appliances, corrugated boxes, cut paper, and cartons. The higher
elongation property of polypropylene strapping makes it a preferred
choice in these applications. Consequently, the market for
polyester straps experiences a decline due to the increasing
preference for polypropylene straps in light to medium-duty jobs.
This trend negatively impacts the growth of the global polyester
straps market during the forecast period.
- The Polyester Straps Market faces several challenges in areas
of branding, profit margins, logistical partnerships, and supply
chain operations. Environmental sustainability is a growing concern
with increasing focus on recyclable materials and reducing carbon
emissions. Brands seek to differentiate themselves through
sustainable products and brand visibility. Custom-printed polyester
straps offer branding opportunities, but manufacturers must
consider consumer attention, analysis period, safety precautions,
packing grade, width, break strength, thickness, and electrical
applications in various industries like electronics, construction,
textiles, and food and beverage. Recycled polyester straps
contribute to the circular economy and lightweight options enable
customization. Ensuring cargo safety, bundling, and logistics are
crucial for final consumers and packaging materials. Understanding
these challenges is essential for manufacturers to remain
competitive in the future market of Polyethylene Terephthalate
straps.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This polyester straps market report extensively covers market
segmentation by
- Grade Type
- 1.1 Machine grade
- 1.2 Hand grade
- Geography
- 2.1 APAC
- 2.2 North America
- 2.3 Europe
- 2.4 South America
- 2.5 Middle East and
Africa
1.1 Machine grade-
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
Polyester straps, manufactured from Polyethylene Terephthalate
(PET), are a popular choice in various industries due to their
durability, lightweight, and versatility. The global polyester
straps market is expected to grow significantly in the coming
years, driven by increasing demand from sectors such as logistics,
construction, and electronics. Recycled polyester straps are
gaining popularity due to the circular economy trend, offering a
sustainable alternative to virgin polyester. Manufacturers focus on
customization and branding opportunities, catering to specific
industry requirements and customer preferences. The market offers a
wide range of polyester straps in various widths, break strengths,
and thicknesses, suitable for diverse applications. Cargo safety is
a major concern, leading to the use of polyester straps in bundling
and securing goods during transportation. Polyester straps find
extensive use in industries like electrical, electronics,
construction and allied, paper, textiles, chemical, fertilizers,
apparels, and allied sectors. The final consumer benefits from the
increased safety, durability, and cost-effectiveness of these
straps.
Market Research Overview
Polyester straps, manufactured from Polyethylene Terephthalate
(PET), have gained significant popularity in various industries due
to their durability, lightweight, and cost-effectiveness. The
future market for polyester straps is projected to grow, driven by
the increasing demand for circular economy solutions and
sustainability in supply chain operations. Manufacturers focus on
producing recycled polyester straps, reducing carbon emissions and
promoting environmental sustainability. Customization and branding
opportunities are key features, allowing for product
differentiation and increased brand visibility. The market caters
to diverse sectors such as logistics, cargo safety, packaging
materials, electronics, construction, textiles, chemicals,
fertilizers, apparels, food, and beverages. With the increasing
focus on safety precautions and logistical partners, polyester
straps offer bundling solutions for efficient transport and
storage. The analysis period for the polyester straps market
considers trends, growth drivers, challenges, and opportunities.
Key factors include the width, break strength, thickness, and
electrical properties of the straps. The market offers profit
margins for manufacturers and branding opportunities for final
consumers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Grade Type
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio