According to the latest report by IMARC Group, titled “Strapping MaterialsMarket: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global strapping materials market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. 

The global strapping materials market size reached a value of US$ 6.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.91 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.

Strapping refers to the method of using bands, metal straps, or wires to reinforce and bundle products, such as cartons, newspapers, pipes, lumber, and concrete blocks, for easy handling and shipping. It is also used to close shipping containers and corrugated boxes, hold agricultural products or textile bales, attach goods to pallets, skids, and crates, and secure a unit load of bricks, packaged glass, or metal components. Besides this, strapping materials find extensive applications in the food and beverage (F&B) industry to provide a cost-efficient way of palletizing, unitizing, and packaging food products across the globe.

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Strapping Materials Market Trends and Drivers:

The global strapping materials market is primarily driven by the rising product use in industrial logistics to secure pallet loads and bundle products for transportation and storage. Moreover, numerous capital venture and investment firms are investing in the manufacturing of strapping materials to add innovative features during the process. In addition, continual technological advancements, such as the development of automatic strapping machines, are positively influencing market growth.

Additionally, there has been a rise in the adoption of steel straps in the construction industry owing to their high tensile strength, heat resistance, and extreme durability, making them suitable for packaging metal. In line with this, due to its recovery and elongation properties, the increasing use of plastic strapping in the printing sector has catalyzed market growth.

Furthermore, the rising reliance of the e-commerce industry on corrugated cardboard and paper as a retail-ready packaging alternative to protect goods from damage and vibration is another major growth-inducing factor. Other factors, including increasing penetration of online retail outlets, ongoing research and development (R&D) activities, and rising demand for consumer goods, are also anticipated to drive the market further.

Global Strapping Materials Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Strapping Materials Companies:

Binderholz GmbH, Dongwha Enterprise, EGGER Group, Evergreen Fibreboard Berhad, Georgia-Pacific LLC (Koch Industries Inc.), Green River Holding Co. Ltd., Kastamonu Entegre, Louisiana-Pacific Corporation, Sonae Arauco, Starbank Panel Products Ltd., West Fraser Timber Co. Ltd. and Weyerhaeuser Company.

The report has segmented the market on the basis of region, material and application.

Breakup by Material:

• Steel
• Polypropylene
• Polyester

Breakup by Application:

• Industrial Logistics and Warehouse
• Food and Beverage
• Corrugated Cardboard and Paper
• Newspaper and Graphics
• Building and Construction
• Metal

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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 Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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