The global packing belts market is projected to reach US$ 3.1 billion by 2032, with a compound annual growth rate (CAGR) of 5.1% from 2022 to 2032, according to a report by Future Market Insights (FMI). Plastic packing belts, also known as packing straps, are primarily used to bundle, palletize, and secure medium to large bulk objects during transportation. The demand for packing belts is driven by the need to protect bulk goods from damage caused by movement during transit.
Packing belts find application in various sectors such as food and beverage, pharmaceuticals, shipping and logistics, electrical and electronics, and automotive industries. They are preferred for transportation due to their lightweight nature and ease of use. The high demand for reliable and secure packaging and support solutions for bulk goods contributes to the increasing sales of packing belts throughout the forecast period.
Packing belts play a crucial role in maintaining the security of packed goods during storage and transit by absorbing pressure and maintaining tension. Polyester packing belts are widely used in many industries due to their high break strength and better elongation, offering several advantages for securing and protecting goods.
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Key Takeaways: Packing Belt Market
- Polyester is estimated to be the dominant material in the packing belt market and is set to hold around 52% of the share by the end of 2032.
- By end-use industry, the shipping & logistics segment is expected to create an absolute $ opportunity of US$ 344.6 Mn in the forecast period.
- The India packing belt market is likely to exhibit steady growth at a CAGR of 5.5% during the forecast period (2022-2032).
- The U.S. is anticipated to be valued at US$ 202.6 Mn in the upcoming decade with increasing sales of automotive.
- The global packing belt market is expected to reach US$ 1.9 Bn in 2022.
“Development of eco-friendly packing belts such as PET straps made from recycled materials is projected to create new growth opportunities for key players and help them address vital sustainability concerns,” says a FMI analyst.
Ability to Absorb Shocks during Transportation to Propel the Global Packing Belt Market
Packing belts are extensively used in numerous industries for medium and heavy-duty bailing, bundling, palletizing, and load unitizing applications. Growing significance of packing belts in the shipping and logistics industry to move goods efficiently is anticipated to augur well for the global market.
Moreover, shocks and high pressure created during shipping and movement of goods can lead to damages. High-elongated elasticity and strength of packing belts can help in retaining the created pressure or tension. Thus, high holding and shock absorbing capacity is likely to spur the demand for packing belts during the forecast period.
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Competitive Landscape: Packing Belt Market
Some of the renowned companies present in the global packing belt market include Teufelberger holding AG, FROMM Packaging Systems Inc., Mosca GmbH, Samuel Strapping Systems, Linder GmbH, The Plastic Strapping Company Ltd, Northshore Strapping Company, Plastic Extruders Ltd., Campanini UGO S.P.A, Consent LLC, Narrowtex Pty (Ltd.), National Webbing Products, Universal Strapping Inc., and Nottingham Narrow Fabrics Ltd.
Packing Belt Market Outlook by Category
By Material:
- Polypropylene (PP)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Polyester
- Nylon
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By Thickness:
- Below 0.5mm
- 0.5mm-0.75mm
- 0.76mm-1mm
- Above 1mm
By End-use Industry:
- Food & Beverage
- Pharmaceuticals
- Electrical & Electronics
- Automotive
- Building & Construction
- Textiles & Apparels
- Chemicals & Fertilizers
- Shipping & Logistics
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