America's strapping material market was valued at USD 1.64 Billion in 2017. It is projected to grow at a 4.0% CAGR over the forecast period. The market is expected to grow through 2025 due to rising demand for lightweight materials that reduce the cost per unit of material imposed by logistic carriers.
The market is primarily driven by the growing demand for products in various segments, such as industrial packaging and food and beverage packaging. Market growth is expected to be boosted by factors such as increasing awareness about the importance of environmentally-friendly packaging and rising consumer awareness.
Synthetic fibres Polyester and polypropylene are the most common raw materials because of their technical characteristics, such as their high tensile strengths and resistance to abrasion. The PET straps are made from melting PET materials, granules or pellets. They have high strength and stretchability.
Market growth could be impacted by volatile prices for raw materials like Steel, polyester and polypropylene over the forecast period. Market growth will also be affected by the rising cost of energy, and other utilities needed to manufacture these raw materials.
Key manufacturers are emphasizing manufacturing cost-efficient, environment-friendly, and application-specific straps in order to increase growth opportunities and ensure compliance with regulatory frameworks. Plastic straps are more popular than non-plastic ones, and can be recycled.
Manufacturers have been adversely affected by rising environmental regulations regarding carbon emission and waste disposal. The industry's top manufacturers are involved in recycling and reusing polymers, with a greater focus on environmental issues as well as reducing costs.
Many applications for plastic and steel strapping materials include food and beverage, industrial logistics, warehouse, corrugated paper, building and construction, metal, and other areas. They are lightweight and can be used on all types of transport, including rail, road, sea, or air.
Recycled plastic strapping materials offer many environmental benefits. Recycled plastic can be used to make these products. This saves around 98 million British Thermal Units (BTUs) of energy, 16.3 barrels equivalent of oil, and 30 cubic yards of land space. This is a key factor that has driven product demand.
PET is expected to grow at a 4.1% CAGR in revenue during the forecast period. This is due to its high recyclability and eco-friendly nature. The rising demand for PET strapping materials within the food and beverage sector can be attributed in part to increased consumer spending on packaged foods.
Polypropylene will be the fastest-growing segment between 2018 and 2025. It is expected to grow at a CAGR 4.6% over that time. Because of their shock-absorbing properties, polypropylene straps are popular in the F&B industry. The Americas strapping material market will see a shift toward biocompatible plastics in the next few years.
This industry is primarily used for two main purposes - food and beverages and industrial logistics and warehouses. In 2017, they accounted together for 59.4%. The trend of increasing strapping material use is expected to continue in the future, due to rising demand for packaged food and beverages.
Strapping is an economical option that can be used by all industries, regardless of the size of their packaging. For industries such as paper and corrugated cardboard, where goods are handled in large quantities, there is a need for minimal downtime and maximum efficiency. They are major end-users for the product.
The demand for products is affected by the growth in export and import of goods from industries like pharmaceutical, textile, electronics and consumer electronics. Manufacturers can also produce custom products by using different production technologies to meet the needs of different industries.
Strapping is a practical way to cut logistical costs and can be used in place of film wraps. It reduces the pellet's weight and increases the value of the shipments in domestic and international transport. You can also use it to efficiently make consolidated shipping. It reduces transport costs by moving from a less than truckload (LTL), shipment to a truckload (TL), shipment.
North America was responsible for 73.1% revenue in 2017. This is due to high penetration in the food- and beverage industry, resulting in increased demand for packaged foods. It is essential for packaging food and beverages products in order to prevent contamination or damage during shipping, distribution, storage, and transportation.
U.S. packaging trends change rapidly and are causing designers across multiple industries to invent. Additionally, the growing demand for products that can be used in a busy lifestyle has led to a rise in demand for packaging products that are convenient. This will also increase growth.
In 2017, the Central and South America market was valued USD 441.5million. It is expected to grow at a 5.0% annual rate between 2018 and 2025. Due to the rising middle class in the region and their increased spending ability, online retailers are growing which will in turn boost the growth of logistics.
Brazil's metal product exports make up a significant part of its foreign trade. They also contribute to Brazil's trade surplus. Because of its vast mineral resources, low labor costs and highly integrated, modernized production facilities, Brazil is a competent country in steel and aluminum production. These factors will drive the demand for strapping materials within the region.
This market is oligopolistic and has several regional and global players. MOSCA GmbH, Polychem Corporation, Signode Packaging Systems Corporation, and StraPack, Inc. are the key players in this market. However, many local players have faced stiff competition from multinational companies.
Global entities have a lot of technical know-how and make significant investments in developing high-quality strapping materials that meet customer needs. This has increased competition on a global scale. These companies are focused on expanding their presence in areas with high export volumes to increase the market's competitive pressure.
This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends for each sub-segment from 2014 to 2025. Grand View Research has divided the Americas strapping material market report by product, region, and application.
Product Outlook (Revenue USD Million, 2014-2025)
Steel
Polypropylene
Polyester (PET).
Other
App Outlook (Revenue USD Million, 2014-2025)
Food & Beverage
Warehouse Logistics & Industrial Logistics
Paper & Corrugated Card Boxes
Building & Construction
Metal
Regional Outlook (Revenue USD Million, 2014-2025)
North America
The U.S.
Canada
Mexico
Central & South America
Brazil
Argentina
Chile
b. The Americas strapping material market was valued at USD 1,738.7 millions in 2019, and is forecast to grow to USD 1,804.5million in 2020.
What is the market growth rate for america's strapping materials?b. The Americas strapping material market is expected to expand at a compound annual growth rate 4.0% between 2018 and 2025, to reach USD 2,209.5 millions in 2025.
Which segment had the largest market share in america's strapping material?b. U.S. was the dominant market for America's strapping materials in 2019, with a share at 57.6%. This can be attributed to the high penetration of the Americas strapping materials market with a share of 57.6% in 2019.
What are the major players in America's strapping material market?b. The market is dominated by MOSCA GmbH, Polychem Corporation, Signode Packaging Systems Corporation, and StraPack, Inc.
What are the driving factors for the American strapping material market?b. b.
Up Market Research published a new report titled “Americas Strapping Materials Market research report which is segmented by Application (Industrial Logistics & Warehouse, F&B), by Product (Steel, Polyester, Polypropylene), By Players/Companies Inc A large number of local players have been facing stiff competition from global companies, MOSCA GmbH; Polychem Corporation; Signode Packaging Systems Corporation; and StraPack”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Americas Strapping Materials Market Research Report |
By Application | Industrial Logistics & Warehouse, F&B |
By Product | Steel, Polyester, Polypropylene |
By Companies | Inc A large number of local players have been facing stiff competition from global companies, MOSCA GmbH; Polychem Corporation; Signode Packaging Systems Corporation; and StraPack |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 216 |
Number of Tables & Figures | 152 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Industrial Logistics & Warehouse, F&B), by Product (Steel, Polyester, Polypropylene).
Americas Strapping Materials Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Americas Strapping Materials Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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