The global polyester straps market is anticipated to reach a valuation of US$ 1.0 billion in 2023, driven by shift towards sustainable packaging solutions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.4% between 2023 and 2033, and reaching a total valuation of approximately US$ 2.1 billion by 2033.
This growth is driven by several key factors shaping the market dynamics. Polyester straps, known for their high tensile strength, durability, and resistance to corrosion and UV radiation, are increasingly preferred in industries such as logistics, construction, and agriculture for securing heavy loads and products during transportation and storage.
The rising demand for efficient and cost-effective packaging solutions, coupled with the expanding e-commerce sector, is fueling the adoption of polyester straps globally. Additionally, stringent regulations regarding the use of eco-friendly materials in packaging are boosting the market for polyester straps, as they are recyclable and contribute to sustainability efforts.
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Technological advancements in manufacturing processes are also enhancing the performance characteristics of polyester straps, making them more versatile and reliable across various applications. Furthermore, the growing construction activities and infrastructure development projects worldwide are further driving the demand for polyester straps for bundling and securing building materials
Key Takeaways from the Market Study
- Global polyester straps market was valued at US$ 973 million by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.2%.
- India is expected to hold a dominant CAGR of 8.5% during the forecast period.
- By thickness, the 5mm to 15mm mm segment is expected to constitute a CAGR of 7.3% in 2033.
- On the basis of application, bundling segment is expected to dominate the market with a CAGR of 7.2% in 2033.
- From 2023 to 2033, polyester straps market is expected to flourish at a CAGR of 7.4%.
- By 2033, the market value of polyester straps is expected to reach US$ 2.1 billion.
Advancements in packaging automation, across the globe is a major factor that is expected to propel the growth of the polyester straps market in the near future, remarks an FMI analyst.
Prominent players in the polyester straps market are Teufelberger holding ag, Samuel Strapping Systems, FROMM Packaging Systems Inc., Mosca GmbH, Industrial Yarns Pty Ltd., Linder GmbH, The Plastic Strapping Company Ltd, Northshore Strapping Company, Plastic Extruders Ltd., National Webbing Products, Campanini UGO S.P.A, Signor limited, Consent LLC, Narrowtex Pty (Ltd.), Universal Strapping Inc., Mil-Spec Packaging, Bowmer Bond Narrow Fabrics Limited, Nottingham Narrow Fabrics Ltd, DAE YANG STRAPS CO., LTD, and Johnson Plastics & Supply
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Recent Developments:
- In January 2022, Dynaric Inc. launched its advanced polyester strapping machine, equipped with cutting-edge technology for efficient and precise strapping operations. The machine offers fast strapping speed, high tension capability, and automatic tension adjustment, improving productivity and ensuring optimal performance in various packaging applications.
- In September 2021, PAC Strapping Products, Inc. introduced its new line of polyester strapping with enhanced break strength and improved tensile properties. The new strapping products are designed to provide superior load containment and security for a wide range of applications, including palletizing, bundling, and unitizing.
- In October 2021, Yongsun Industrial Co., Ltd. introduced its new range of embossed polyester strapping. The embossed surface of the strapping provides enhanced grip and friction, ensuring secure bundling and preventing slippage during transportation.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global polyester straps market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the polyester straps market, the market is segmented on the basis of thickness (below 0.5mm, 0.5mm-0.75mm, 0.76mm-1mm, and above 1mm), by packaging grade (hand grade polyester straps, and machine grade polyester straps), by width (5mm-15mm, 16mm-25mm, 26mm-35mm, and above 35mm), by breaking strength (up to 220kg, 221kg to 300kg, 301kg to 500kg, 501kg to 1,000kg, and above 1,000kg), by end-use industry (food & beverage, pharmaceuticals, electronics & electricals, automotive, construction & allied industries, paper & allied industries, textiles & apparels, chemicals & fertilizers, and others), and by application (heavy duty bailing, bundling, and palletizing), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Key Segments Profiled In The Global Polyester Straps Market
By Thickness:
- Below 0.5mm
- 0.5mm-0.75mm
- 0.76mm-1mm
- Above 1mm
By Packing Grade:
- Hand Grade Polyester Straps
- Machine Grade Polyester Straps
By Width:
- 5mm-15mm
- 16mm-25mm
- 26mm-35mm
- Above 35mm
By Breaking Strength:
- Up to 220kg
- 221kg to 300kg
- 301kg to 500kg
- 501kg to 1,000kg
- Above 1,000kg
By End Use Industry:
- Food & Beverage
- Pharmaceuticals
- Electronics & Electricals
- Automotive
- Construction & Allied Industries
- Paper & Allied Industries
- Textiles & Apparels
- Chemicals & Fertilizers
- Others
By Application:
- Heavy Duty Bailing
- Bundling
- Palletizing
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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