Plastic Straps Market, Ongoing Trends, Drivers, Risks, New Opportunities 2024

Posted by Yash Chauhan on March 14th, 2019

The plastic straps market is driven by factors such as growing demand in emerging markets across the globe, low-cost alternative to other material, and increasing demand from steel, paper, and other industries. Different types of plastic straps such as polyester straps, propylene straps, and nylon straps majorly contribute to the global market size.

Alternatives such as steel straps are expensive, heavy and difficult to recycle, which has to a decline in the steel straps market growth. This offers immense growth opportunities for the plastic strap market growth in the coming years.

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Asia-Pacific accounted for the major share in the plastic straps industry in 2017, globally as the positive economic growth due to the increasing purchasing power and increasing disposable income of the Asian countries such as China, India, Philippines, and others.

North America is observed to witness the significant growth in the plastic straps market, owing to the several benefits of these straps such as low cost, flexibility, and its lightweight.

Key players offering products in the plastic straps industry are Crown Holdings, Messersì Packaging, Teufelberger, Polychem Corporation, Scientex Berhad, Linder Seevetal, Mosca Direct Limited, Dubose Strapping, PAC Strapping Products, and Auto Strap India.

Source: VynZ Research