Plastic Straps Market Overview

According to Market Research Future (MRFR), an eminent research firm, the global plastic strap market pictures a vivacious growth to reach to USD 2581.1 MN by 2023 with CAGR of 12.40% throughout the forecast period (2018-2023). In the years 2017, the market valuation had reached to USD 1280 MN, meaning the market is eyeing for doubling its present valuation.

The healthy growth in plastic straps demand is driven by accelerating growth in various sectors such as manufacturing, construction, and air & cargo, among others. The air transport industry, including military, is seeing even more growth on the horizon. Moreover, an increasing number of airports, worldwide are growth indicators for the rise in air-cargo businesses.

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Major Players

Players leading the global plastic straps market include

Polychem Corporation (the US)
Crown Holdings (the US)
Teufelberger (Austria)
Messersi Packaging (Italy)
FROMM Packaging (the US)
Dubose Strapping (the US)
PAC Strapping (the US)
Auto Strap (India)
Scientex Berhad (Malaysia)
Polychem Corporation (the US), among others.

Global Plastic Straps Market – Segmentation

For a better understanding of the report, the Plastic Straps Market is segmented into three key dynamics:

By Type : Polyester Straps, Polypropylene Straps, and Nylon Straps, among others.

By End-use : Steel, Cotton, Paper, Fiber, and Bricks & Tiles, among others.

By Region : Asia Pacific, North America, Europe, and Rest-of-the-World.

Plastic Straps Market – Regional Analysis

Globally, the Asia Pacific region accounts for the largest market for plastic Straps. The APAC region is dominating the market by a considerable margin and has immense potential to retain its dominance over the global plastic straps market throughout the predicted period. Growing industries in the APAC region are increasing their demand for the products that can cut down their logistics cost and profit more.

Rapidly developing economies such as India and China, backed by the rapid industrialization are spurring the demand for plastic straps. Due to the demand from various end-user industries such as Cargo, packaging, and consumer goods industry China accounts for the major market in the regional plastic straps market followed by Japan and India. Augmenting demand from the packaging industry, particularly, in India, Taiwan, and South Korea have made Asia Pacific largest consumer of the plastic straps.

The North America region follows the APAC region closely, in terms of increasing consumption of plastic straps across the industries. The third largest market for plastic straps is Europe. Latin America and the Middle East also witnessed growth in the plastic straps market due to various application construction, packaging, consumer goods, and pharmaceuticals, among others.

Competitive Analysis

Highly competitive, the plastic straps market appears to be fragmented characterized by the presence of a number of large and small-scale players. Though the large companies have great geographical proximity, the entry of several new companies would pose stiff competition for them.

Manufacturers emphasize on new product development initiatives and geographical expansion. They compete on price and brand reinforcement. Well established players incorporate strategic initiatives such as acquisition, partnership, expansion, and technology launch to gain a competitive advantage in this market.

Table Of Contents

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

Continues…..

List Of Figures

FIGURE 1 Research Process Of MRFR

FIGURE 2 Top Down & Bottom Up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

Continues…..

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