A Future Market Insights analysis states that the global packing belts market is expected to be valued at US$ 3.1 billion. In the anticipated period from 2022 to 2032, the CAGR growth rate was 5.1%.
An attachment made of plastic called a packing belt, also called a packing strap, is used primarily for bundling, palletizing, and holding medium to large bulk products during transit. The need for packing belts is mostly driven by the requirement to shield bulk goods from transfer-related damage while in transit.
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Because they are simple to use and light in weight, they are seen as a safe option for the transportation of products. High demand for packaging solutions and solid and reliable assistance for bulk goods are anticipated forecast period.
The packing belt helps absorb pressure and maintain tension, keeping packaged goods secure during storage and transportation. Polyester packing belt is extensively used by various end-use industries as it offers advantages such as higher brake strength and greater elongation.
key takeaways: packing belt market
- Polyester is considered to be the dominant material in the packing belt market and is ready to hold around 52% of shares by the end of 2032.
- By the end-use industry, the shipping and logistics segment is expected to create a full $ opportunity US$ 344.6 M.N. in the forecast period.
- India Packing Belt Market Is Likely To Show Steady Growth At CAGR 5.5% During the forecast period (2022-2032).
- America is estimated to be US$ 202.6 M.N. With increasing automotive sales in the coming decade.
- The global packing belt market is expected to reach US$1.9 battalion in 2022.
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“The development of eco-friendly packing belts such as PET straps made from recycled materials is anticipated to create new growth opportunities for key players and help them address significant sustainability concerns,” Says an FMI analyst.
Growing Concerns About Environmental Pollution To Increase PET Packing Belt Sales
The demand for eco-friendly packaging is increasing across the world as consumers are becoming aware of the environmental pollution caused by the use of volatile products and packaging. The high demand for Polyethylene Terephthalate (PET) Packing Belts made from 100% recycled material is poised to propel the market during the years to come.
PET packing belt is not only reusable but also offers many other benefits such as lightweight nature, high shock absorbing capacity, weather and UV resistance, and high maintained tension. Driven by the above qualities, the global packing belt market is projected to grow at a steady pace till 2032.
Ability to absorb shock during transportation to drive global packing belt market
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Packing belts are widely used in many industries for medium and heavy duty baling, bundling, palletizing and load uniting applications. The growing importance of packing belts in the shipping and logistics industry to move goods efficiently is anticipated to augur well for the global market.
In addition, shock and high pressure during the shipping and movement of goods can cause damage. The high-elongation elasticity and strength of the packing belt can help maintain built-up pressure or tension. Thus, higher holding and shock absorbing capacity may drive the demand for packing belts during the forecast period.
Competitive Landscape: Packing belt market
Some of the well-known companies present in the global packing belt market include Teufelberger Holding AG, From Packaging Systems Inc., Mosca GmbH, Samuel Strapping Systems, Linder GmbH, The Plastic Strapping Company Ltd., Northshore Strapping Company, Plastics Extruder Ltd., Campanini UGO. SPA, Consent LLC, Narrowex Pty (Ltd), National Webbing Products, Universal Strapping Inc., and Nottingham Narrow Fabrics Ltd.
Category Wise Packing Belt Market Outlook
By Content:
By thickness:
- 0.5 mm. below from
- 0.5mm-0.75mm
- 0.76mm-1mm
- 1 mm. at over
End use by industry:
- Food & Beverage
- medicines
- Electrical & Electronics
- motor vehicle
- building construction
- textile and apparel
- chemicals and fertilizers
- Shipping & Logistics
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