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Strapping Materials Market
Strapping materials market size is poised to witness steady growth between 2024 and 2032, driven by the fast-growing e-commerce and logistics operations across the globe. The rising preference for recyclability of plastic materials has stirred the higher need for sustainable packaging substitutes across various industrial verticals. Lately, the demand for textile goods, household appliances, medical devices, pharmaceutical products, and consumer electronics is substantial growing.
Additionally, the rapid expansion of the global manufacturing and logistics sectors, increasing demand for secure and reliable packaging solutions, and strong advancements in material technologies will propel the product demand. The rise of sustainability initiatives and regulations has also led to the development of eco-friendly strapping materials. Additionally, innovations in strapping material designs, such as enhanced strength, flexibility, and ease of use, will contribute to the industry progression.
Strapping Materials Market Trends
One significant trend bolstering the market growth is the shift towards sustainable and innovative solutions. Major manufacturers are increasingly focusing on developing eco-friendly alternatives to traditional plastic strapping, leveraging materials like biodegradable polymers and recycled plastics. Additionally, there is a growing demand for smart strapping solutions embedded with RFID technology and QR codes, for enabling real-time tracking and monitoring of packaged goods throughout the supply chain. Rising technological advancements, including the introduction of automatic strapping machines are offering lucrative growth opportunities to investors and end-users. The growing reliance on online retail outlets will also positively impact the industry expansion.
Strapping Materials Market Analysis
On the basis of material, the market value from the steel segment will garner considerable gains through 2032, owing to an increasing preference for heavy-duty applications. Steel strapping offers excellent resistance to extreme temperatures, UV exposure, and corrosion, making it ideal for outdoor and long-term storage applications. Moreover, technological advancements, including high-tensile strength options and safer edge finishes, are further enhancing the product appeal among businesses seeking robust and secure packaging solutions.
Based on application, the strapping materials industry from the industrial logistics & warehouse segment is projected to garner significant momentum through 2032, driven by the potential in industrialized economies, such as the U.K. Germany is one of Europe's major logistical centers, providing logistics services to around 500 million European citizens considering its strategic location. The shift from steel strapping to plastics in logistics management for bundled building materials and primary packaging containers, such as beverage bottles & cans will support the segment growth.
Asia Pacific strapping materials industry is expected to grow significantly through 2032, owing to rapid industrial and infrastructural development. The effective usage of steel in the regional construction industry is greatly enhancing the popularity of steel strapping. The influx of government investments in various infrastructure projects is also predicted to favor product adoption. According to India Brand Equity Foundation (IBEF), in the union budget of 2022-23, the Indian government allocated over USD 130.5 billion to enhance the infrastructure sector. The increasing need for UV resistance, high break strength, exceptional durability, and the ability to handle enormous weights are other factors bolstering the regional industry expansion.
Strapping Materials Market Players
Leading strapping material companies across the globe include:
- Milan Ligocki UNI PACK
- Crawford Packaging
- Titan Umreifungstechnik GmbH & Co. KG
- Signode Packaging Systems Corporation
- Plastofine Industries
- Polychem Corporation
- Dynaric
- Martin Packaging
- Mosca GmbH
- StraPack, Inc. (Strapack Corporation)
- Cyklop International
- Signor Polymers
- Panorama
To meet the constantly evolving packaging industry needs, these companies are making hefty investments in R&D activities. To keep up with the competition, they are improving their current offerings and launching innovative products.
Strapping Materials Industry News
- In March 2023, EAM-Mosca Corp., a subsidiary of Mosca GmbH, revealed sales and marketing collaboration with Reisopack S.L., headquartered in Spain. Under this agreement, the former company offered Reisopack's strapping systems and OEM components to customers across the U.S., Mexico, Canada, and Brazil.