The global strapping supplies market is estimated to create a value of US$ 4.6 Billion in 2022. The sales of the strapping supplies are projected to propel at 5.3% CAGR between 2022 and 2032. Growth in the market is primarily attributed to growing demand for sterile and safe packaging in industries such as warehousing, electronics, food & beverage, and others.
The Strapping Supplies Market is a thriving industry that caters to the diverse packaging needs of businesses across multiple sectors. Strapping supplies encompass a broad spectrum of products, including straps, seals, buckles, stretch films, and tools such as tensioners and sealers. These supplies are utilized to secure and stabilize packages, ensuring safe transportation and storage.
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Market Trends and Future Outlook
The strapping supplies market is witnessing several notable trends that are shaping its future. Understanding these trends can provide businesses with valuable insights to stay ahead in the competitive landscape:
1. Automation in Strapping Operations
As industries embrace automation, the demand for automated strapping tools and equipment is on the rise. These tools enhance efficiency, reduce labor costs, and minimize the risk of errors during the strapping process.
2. Growing Preference for Polyester Straps
Polyester straps are gaining popularity due to their superior strength, durability, and resistance to weather conditions. They offer a cost-effective alternative to traditional materials like steel and are widely used in heavy-duty applications.
Key Takeaways from Strapping Supplies Market
- In terms of product type, strapping machines segment is anticipated to generate an incremental opportunity of US$ 1.2 Billion during the forecast period of 2022-2032.
- Based on end use, logistics & warehousing segment is anticipated to have a prominent demand for strapping supplies.
- North America and East Asia are projected to be the leading regions for the global strapping supplies market.
- Rising demand in building & construction activities is expected to create an absolute Bn $ market opportunity for strapping supplies companies.
“The development of automated strapping machines, low cost-availability of strapping materials and their essential use in a wide variety of applications such as food & beverage, electronics and logistics is expected to drive the market. Hence, key players are leveraging their cost-effective and light-weight strapping machines to increase their revenue.”- says FMI analyst
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Rapid Infrastructural and Industrial Development to Drive Strapping Supplies Market
The construction industry is witnessing a rapid rise, as per FMI. According to Global Construction Perspectives and Oxford Economics global construction market is expected to grow by 85% to US$ 15.5 Tn by 2030 with three countries namely, the U.S., India and China accounting for 57% of all global growth.
With expanding industrialization and commercialization in emerging parts of the world, the logistics and transportation requirements to support the shipping of goods have increased dramatically. Thus, the rising need for strapping materials in order to facilitate the movement of raw materials and goods to construction sites is expected to fuel the growth of the strapping supplies market.
Strapping Supplies Market Landscape
Campanini UGO S.P.A, Teufelberger Holding AG, Narrowtex Pty (Ltd.), Consent LLC, National Webbing Products, DONGGUAN YALAN PACKING MATERIALS CO., LTD, Yu Chi Machinery Co. Ltd. (UGPACK), DAE YANG STRAPS CO., LTD, Universal Strapping Inc., REISOPACK S.L., Plastic Extruders Ltd., Northshore Strapping Company, The plastic strapping company Ltd, Linder GMBH, BONZOBAND Strapping Systems Ltd., MOSCA GMBH, Tosa Group, Samuel strapping systems Group, FROMM Packaging Systems Inc. and Dynaric, Inc.
Growth Factors of the Strapping Supplies Market
The growth of the strapping supplies market can be attributed to several factors, including:
- Rapid Industrialization: With the expansion of industries worldwide, there has been a significant increase in the need for efficient packaging solutions. Strapping supplies play a crucial role in ensuring the safe transit of goods, contributing to the market’s growth.
- E-commerce Boom: The rise of e-commerce platforms has revolutionized the retail industry. Strapping supplies find extensive applications in packaging goods for online shipments, boosting the demand for these products.
- Focus on Sustainability: The growing awareness about environmental sustainability has led to the adoption of eco-friendly strapping supplies. Manufacturers are now offering biodegradable and recyclable strapping materials, catering to the demands of environmentally conscious businesses.
Strapping Supplies Market by Category
By Product:
- Bands and Seals
- Brackets and Buckles
- Edge Protectors
- Machines
- Tools and Carts
- Others (Cables, Twist Ties, etc.)
By End Use:
- Food & Beverage
- Logistics & Warehousing
- Healthcare & Pharmaceutical
- Electronics and Electrical
- Agriculture & Construction
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