In 2021, the market for packaging straps and buckles was estimated to be worth roughly US$3.4 billion. Sales of packaging straps and buckles are anticipated to grow at a high CAGR of 5.0%, valued at US$5.7 Bn by 2032.
Sales in the packaging straps and buckles market are anticipated to increase by 1.6 times over the forecast period, with demand growing at a CAGR of 3.6% from 2015 to 2021.
The amount of commodities available for import and export has significantly increased due to increased cross-border trade. Additionally, the global expansion of the clientele has prompted the usage of shipping companies for the delivery of goods. Strapping and buckling are perfect for packing products that are vulnerable to damage because of their high levels of recovery and elongation.
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The recovery provided by packaging straps and buckles helps to reduce the effect of sudden shifts in momentum. Packaging straps and buckles are cost-effective, fast, and easy to handle, and have low tooling costs.
Growing demand for various applications such as cartons, film rolls, bulk containers, export containers, etc. is projected to increase sales of packaging straps and buckles. Thus, demand in the market is slated to surge at a 5% CAGR over the forecast period.
The packaging industry has grown rapidly over the years, driven by the increasing demand for safe and secure transportation of goods. Packaging straps and buckles have become essential components in the packaging industry as they are used to secure products in place during transportation, storage, and handling. The packaging straps and buckles market has witnessed significant growth in recent years and is expected to continue growing at a steady pace in the coming years.
Packaging straps are commonly used to secure products such as boxes, pallets, and bundles. These straps are made of various materials, including plastic, steel, and polyester. Plastic straps are the most commonly used due to their affordability and versatility. Steel straps are ideal for securing heavy products, while polyester straps are used for products that require a high level of security.
Buckles are used in conjunction with packaging straps to secure products in place. Buckles are available in various materials, including plastic and metal. Plastic buckles are commonly used for lightweight applications, while metal buckles are used for heavy-duty applications.
The packaging straps and buckles market is driven by several factors, including the growth of the e-commerce industry, increasing demand for safe and secure transportation of goods, and the rising trend of sustainable packaging. The e-commerce industry has witnessed significant growth in recent years, and this has led to an increased demand for packaging straps and buckles. This is because online retailers need to ensure that their products are secure during transportation.
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The demand for safe and secure transportation of goods has also contributed to the growth of the packaging straps and buckles market. With the increasing use of automation in the logistics industry, the need for secure packaging has become more important than ever before.
The rising trend of sustainable packaging has also contributed to the growth of the packaging straps and buckles market. Many companies are now looking for environmentally friendly packaging solutions, and packaging straps and buckles made from recyclable materials are becoming increasingly popular.
In conclusion, the packaging straps and buckles market is a growing industry that is driven by several factors, including the growth of the e-commerce industry, increasing demand for safe and secure transportation of goods, and the rising trend of sustainable packaging. With the increasing need for secure packaging, the demand for packaging straps and buckles is expected to continue growing in the coming years.
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Packaging Straps and Buckles Market by Category
By Material Type:
- Plastic
- Steel
By Strength:
- Light Duty
- Medium Duty
- Heavy Duty
By End Use:
- Manufacturing Industry
- Logistics & Transportation
- Building & Construction
- E-commerce
- Household
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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