A detailed study on PET Straps market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
The global PET straps market is expected to rise at a CAGR of ~6.8%, during the forecast period. The PET straps market is expected to witness a soaring growth in 2021 with revenues up 6.3% each year.
PET (Polyethylene Terephthalate) straps are high-performance polyester straps widely used for packaging applications across various industries. These straps are made from polyester resins, which provide them with exceptional strength, flexibility, and elongation properties. PET straps offer a reliable and cost-effective alternative to traditional packaging materials like steel and polypropylene.
Get the PDF Sample Copy (Including FULL TOC, Graphs, and Tables) of this report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13994
Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for PET Straps
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for PET Straps market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key PET Straps Market Takeaways and Projections
- The U.S. is expected to lead the North America PET Straps market, projecting the fastest growth in the region between 2021-2031
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.
Customize your report by selecting specific countries or regions and save 30%: https://www.futuremarketinsights.com/customization-available/rep-gb-13994
Market Trends and Growth Drivers
The PET straps market is influenced by various trends and growth drivers. Let’s explore some of the key factors shaping the market:
- Growing E-commerce Industry: The rapid growth of the e-commerce industry has increased the demand for secure and reliable packaging solutions, driving the adoption of PET straps.
- Shifting Preferences towards Lightweight Packaging: As industries strive for sustainable practices and cost savings, there is a shift towards lightweight packaging materials, with PET straps emerging as a viable alternative.
- Advancements in Manufacturing Technologies: Continuous advancements in manufacturing technologies, such as extrusion processes and automation, have improved the quality and efficiency of PET straps production, further boosting market growth.
- Rise in International Trade: With the increase in global trade activities, the need for efficient and durable packaging solutions has surged, creating a favorable market landscape for PET straps.
Request Report Methodology @ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-13994
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of PET Straps market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global PET Straps market. Some of the players in the global PET Straps market are
- Linder GmbH
- North Shore Strapping Inc
- Consent LLC
- Plastic Extruders Ltd.
- Narrowtex (Pty) Ltd.
- PAC Strapping Products
- Polychem Corp.
- D.J. Hookstraten
- Sandex GmbH
- Butig GmbH
- DuBose Strapping Inc
PET Straps Market: Market Segmentation
By Width:
- 5 – 15 mm
- 16 – 25 mm
- 26 – 35 mm
- Above 35 mm
By Thickness:
- Up to 5 mm
- 5.1 – 7.5 mm
- 7.6 – 10 mm
- Above 10 mm
By Break Strength:
- Up to 250 kg
- 251 – 500 kg
- 501 – 800 kg
- Above 800 kg
By End-use Industries:
- Healthcare & Pharmaceuticals
- Chemicals
- Electronics and Electricals
- Food & Beverages
- Homecare
- Automobiles
- Personal care & Cosmetics
- Others
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report! https://www.futuremarketinsights.com/checkout/13994
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
