Plastic Straps Market grows valuation set at USD 2581.1 Million by 2023
Global Plastic Straps Market Research by Type (Polyester Straps, Polypropylene Straps, Nylon Straps, and Others), by End-Use (Steel, Cotton, Paper, Fiber, Bricks & Tiles, and Others), and Region - Forecast to 2023
Plastic Straps Market Overview
Reduction of cost always hogs the light in industrial sectors. The plastic straps market is taking advantage of this notion and is gaining considerable ground. Plastic straps can be used multiple times which can bring down the cost of packaging. The report further has its fingertips on a detailed segmental analysis and drivers that can impact the plastic straps market significantly and take it ahead.
The global plastic straps market is eyeing for a doubling of its present valuation set at USD 1280 million (2017) and reach USD 2581.1 million by 2023 with an astounding CAGR of 12.40% during the forecast period (2018-2023), reveals Market Research Future (MRFR).
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Plastic straps have an advantage over the metal straps in terms of weight and cost. Plastic straps are available at a cost-friendly rate and are reusable, and its light-weight can reduce the total weight of the packaged product from which logistics can benefit significantly. Furthermore, emerging nations such as India and China, with their tremendous industrial growth are setting a wider field for the plastic straps market to explore and profit.
However, it has its negative consequences as well. Plastic straps are not eco-friendly which can significantly impact the plastic straps market during the forecast period. But bio-based plastics can be a potential option as they can certainly denounce the threats posed by growing eco-awareness.
Key Competitors Analyzed In Report are
Prominent Plastic Straps Market influencers are Crown Holdings (The US), Polychem Corporation (The US), Teufelberger (Austria), FROMM Packaging (The US), Messersi Packaging (Italy), Dubose Strapping (The US), Auto Strap (India), and PAC Strapping (The US), Polychem Corporation (The US), Scientex Berhad(Malaysia) and others.
Segmental Analysis
The global Plastic Straps Market is segmented by type and end-user.
By type, the plastic straps market can be segmented into polyester straps, polypropylene straps, nylon straps, and others.
Based on end-user, the plastic straps market can be segmented into steel, cotton, paper, fiber, bricks & tiles, and others.
Regional Analysis
Region-specific analysis of the global plastic straps market spans across North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC region is currently dominating the market, and as the predictions suggest, the situation is going to remain the same during the forecast period. The APAC can also achieve the fastest CAGR during the same period. China and India, two emerging nations with vast potentials and industrial revamping, can change the ballgame for the regional market growth.
North America is also expected to profit substantially from the market. The region can be deemed as a stronghold for several industries which can drive the plastic straps market in coming years. However, Europe’s market is anticipating some setbacks with growing eco-concern regarding the product. The region has strict environmental policies which can deter the growth rate. Other countries, such as Egypt, Brazil, and Argentina are showing significant market prospect with their industries getting set for a new dawn.
Research Methodology
The report has its roots firmly set in meticulous strategies provided by the white-glove data analysts of Market Research Future (MRFR). These strategies involve gathering of information by expert analysts only to have them analyzed and filtered minutely in an endeavor to provide relevant predictions about the market in the coming years. It further incorporates interviews with chief market influencers which makes the primary research pertinent and effective. The secondary method gives a clear peek into the demand and supply relationship. The method has at its core precise data analysis; the emphasis is on top-down and bottom-up approaches which gives an excellent tour of the entire industry. In addition, sustainable sources such as annual reports, SEC filings, and white papers have been used by MRFR data analysts for a profound cognizance of the pertinent product in a bid to discuss the market factors. The enterprise reflects an intent to render an extensive view of the concerned sector by having it judged against immaculate parameters. The valuable inputs enrich the report and provide an edge over the peers.
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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
……. Continued
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