The global market for plastic strapping materials was valued at US$ 1572.2 million in 2017. The market value is projected to expand at a CAGR of 4.8% during the forecast period, 2018-2026.
Plastic strapping are available in different types of materials such as polypropylene, polyester and composite. Plastic strapping materials find application in various industries such as food & beverages, automotive, transportation & logistics, building & construction, textile and others. The consumer products industries such as food, beverages and electronics are expected to witness inclination in terms of CAGR during the forecast period. In plastic strapping materials, polypropylene is most widely preferred strapping material by end-user industries due to easy availability and compatibility for most of the applications.
Plastic strapping materials market has witnessed continuous growth from past three years owing to an economical and secure unitizing solution for strapping as compared to steel strapping. Due to sharp edges of steel strapping, it is difficult to handle manually and can be hazardous to an individual who is engaged in strapping operation. Plastic strapping materials are easy to handle and can be removed or attached manually.
The plastic strapping materials are highly preferred in the food and beverage industry over steel strapping due to the non-corrosive property of plastic strapping materials. Steel strapping can damage the food products due to its corrosive properties. Plastic wrapping films are holding the growth of plastic strapping materials market. Plastic wrapping films secure and unitize the items from dust, moisture and water which is not possible with the use of plastic strapping materials.
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The demand for plastic strapping materials market increases due to need of handling and shipping products efficiently and economically. Generally, the steel strapping is used for the heavy products as unitizers in the industry, but after innovation and introduction of high tensile strength in plastic strapping materials, consumers are attracted toward the plastic strapping materials.
The composite strapping is made up of polyester and polypropylene, and has attracted the end-user industries for heavy load applications due to its high tenacity. Logistics and transportation industry is the emerging consumer for plastic strapping materials due to its easy handling. Plastic strapping materials market is growing due to highly innovative and compatible products available for manual and machine handling. Cotton baling and textile industry uses plastic strapping materials owing to provide securement and easy bundling of products.
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Automotive and consumer electronics use plastic strapping materials for conveying bundling equipment and parts. The plastic strapping materials market players offer economical and wide range of products which drives the market growth. The plastic strapping materials are characterized in the global market on the basis of load unitizing and carrying capacity