ASIA PACIFIC PLASTIC STRAPS RD
Asia Pacific Plastic Straps Market Forecast to 2027 – COVID-19 Impact and Asia Pacific (APAC) Analysis – By Type (Polyester, Polypropylene, Nylon, Paper, Composite, Corded and Woven); End Use (Fiber, Steel, Cotton, Paper, Bricks and Tiles, Others), and Country
Pages: 119
Market Introduction
A plastic strap is a flexible flat material which helps to combine, hold, reinforce, or fasten an item. Plastic strapping used for packaging is a generic term used to describe all non-metallic straps and includes extruded polypropylene & polyester straps together with corded or woven polyester straps. The growth of plastic straps market is driven by the increasing use of plastic straps in the paper, steel, and bricks & tiles industries. Plastic strapping materials are produced from polypropylene, polyester, and are available in a wide variety of styles, strengths, and finishes. Strapping can be applied either automatically with a strapping machine or manually with a hand tool. Strapping is widely used across many industries, including shipping large industrial equipment to e-commerce fulfillment centers. Different products of strapping material are available with specific classifications and grades.
Market Overview and Dynamics
The Asia Pacific plastic straps market was valued at US$ 484.65 million in 2019 and is projected to reach US$ 1,628.53 million by 2027; it is expected to grow at a CAGR of 16.6% during the forecast period 2018-2027. Factors driving the market growth include the rising preference for lightweight and low-cost strapping materials and growing demand in Key Markets such as India and China. However, the environmental pollution and waste management is likely to have a negative impact on the market growth.
Key Market Segments
By type, the polypropylene straps segment accounted for the largest market share in the Asia Pacific plastic straps market in 2019. In terms of end use, the paper segment held the largest market share of the plastic straps market by 2027. In terms of application, in 2018, the beverage segment held the most significant market share of the plastic straps market in Asia Pacific.
Major Sources and Companies Listed
Some of the major primary and secondary sources for Asia Pacific plastic straps market included in the report are Auto Strap India, Cyklop International, FROMM Group, LINDER GmbH, Crown Holdings, Inc., and Teufelberger Stralsund GmbH.
Impact of COVID-19 Pandemic on Plastic straps Market
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the plastic straps market due to shutting down of factories, obstacle in supply chain, and downturn in world economy
Reasons to buy the report
· To understand the plastic straps market landscape and identify market segments that are most likely to guarantee a strong return
· To stay ahead by comprehending the ever-changing competitive landscape for the plastic straps market
· To efficiently plan M&A and partnership deals in the plastic straps market by identifying market segments with most promising probable sales
· To take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segments in the plastic straps market
· To obtain market revenue forecast for market by various segments from 2018 to 2027
Asia Pacific Plastic straps Market Segmentation
By Type
· Polyester Straps
· Polypropylene Straps
· Nylon Straps
· Paper Straps
· Composite Straps
· Corded and Woven Straps
By End Use
· Fiber
· Steel
· Cotton
· Paper
· Bricks and Tiles
· Others
By Country
· Australia
· China
· Japan
· India
· South Korea
· Rest of APAC
Company Profiles
· Auto Strap India
· Cyklop International
· FROMM Group
· LINDER GmbH
· Crown Holdings, Inc.
· Teufelberger Stralsund GmbH