As per Future Market Insights (FMI), the global strapping supplies industry is expected to reach US$ 4,739.8 million in 2023. Over the projection period from 2023 to 2033, global sales of strapping supplies are likely to rise at 5.2% CAGR. By 2033, total market value is projected to reach US$ 7,692.7 million.
Demand remains particularly high for edge protectors in the market owing to their ability to protect products during storage and transportation. According to the latest report, the target segment is anticipated to progress at a CAGR of about 4.0% during the assessment period.
Growing demand for strapping supplies in the shipping and logistics sector contributes to the growth of the overall strapping supplies market.
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Strapping supplies play an important role in the safe transportation of goods. Strapping materials, such as plastic and steel straps, secure packages to prevent shifting, shifting, and possible damage during handling, loading, and unloading operations.
Strapping supplies provide a cost-effective packaging solution for the shipping and logistics sector. They provide a reliable alternative to more expensive packaging materials and methods while ensuring adequate protection of your goods. This cost efficiency is attractive to companies looking to streamline their delivery operations.
The shipping and logistics sector is increasingly focused on sustainability and reducing environmental impact. Strapping supplies and accessories made from eco-friendly materials, including biodegradable and recyclable straps, are aligned with these sustainability goals. Therefore, the demand for eco-friendly bundling solutions is increasing.
These drivers collectively contribute to increasing demand for strapping supplies in the shipping and logistics sectors, strengthening the overall strapping supplies industry.
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Key Takeaways of Strapping Supplies Market
- The global strapping supplies industry is projected to reach a valuation of US$ 7,692.7 million by 2033.
- By product type, edge protectors segment is projected to expand at a CAGR of 0% during the projected period.
- Based on end use, logistics & transportation segment is estimated to account for a market share of around 7% in 2023.
- India strapping supplies industry is projected to create an incremental opportunity of around US$ 227.6 million during the assessment period.
- Sales of strapping supplies in China are likely to soar at a CAGR of 8% during the forecast period.
- The United States market is poised to exhibit a CAGR of 4% through 2033.
“Strapping supplies are used in various sectors including food and beverage, construction, paper and printing, textiles, and more. Hence, rapid expansion of these sectors along with rising need for efficient packaging and transportation solutions are likely to fuel demand for strapping supplies.” – says an FMI analyst.
Growing Popularity of Automated Strapping Machines and Smart Packaging Solutions Driving Market Growth:
Automatic strapping machines greatly improve packing efficiency and productivity. Fast and accurate strapping of packages reduces manual labor and streamlines the packing process. This increased efficiency leads to increased productivity and reduced costs for companies, prompting the introduction of automatic strapping machines.
Automatic strapping machines and intelligent packaging solutions can be seamlessly integrated with warehouse management systems (WMS) and other logistics software. This integration enables better coordination of packing operations, real-time tracking of packing, and streamlined data management. These solutions can be integrated into existing systems, making them attractive to companies looking to optimize their packaging processes.
The introduction of automatic strapping machines and intelligent packaging solutions has revolutionized the packaging sector by offering greater efficiency, reliable acceleration customization options, and advanced technology integration.
These advancements are driving the growth of the market as companies look to improve packaging processes, reduce costs, improve product quality, and meet the demands of a highly competitive market.
Who is Winning?
Signode, Greenbridge, SAMUEL SON & CO. LTD., FROMM HOLDING AG, MAILLIS, StraPack Corp., AUTOSTRAP INDIA, Scientex Berhad, MESSERSI PACKAGING S.R.L., TEUFELBERGER, USA Strapping, CYKLOP, CAROLINA STRAPPING AND BUCKLES, POLIVEKTRIS, MOSCA, and others are prominent manufacturers and suppliers of strapping supplies. The Tier 1 players hold around 20% to 25% share in the market.
These players are focusing on introducing new strapping solutions with improved features. They are gradually shifting their preference towards using eco-friendly materials. Further, companies are also using strategies such as partnerships, agreements, mergers, acquisitions, and facility expansion to gain a competitive edge in the market.
Recent developments:
- In December 2022, a new BST battery-powered tool for sealless strapping was launched by Signode.
Strapping Supplies Market Report
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the strapping supplies, analyzing historical demand from 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals growth projections on the strapping supplies industry based on product type (bands & seals, bracket & buckles, edge protectors, tools & cart, and cables twist & ties), material (plastic (PET, PP, PS, others), paper, glass, fiber, fabric, and metal), end use (food & beverage (bottles, cans, boxes), building & constructions (steel, pipes, timber), logistics & transportation (pallets, containers), consumer goods (electronic appliances, furniture), pharmaceuticals, and agriculture), and regions.
Strapping Supplies Market by Category
By Product Type
- Bands & Seals
- Bracket & Buckles
- Edge Protectors
- Tools & Carts
- Cables
- Twist & Ties
By Material
- Plastic
- PET
- PP
- PS
- Others
- Paper
- Glass Fibers
- Fabric
- Metal
By End Use
- Food & Beverage
- Bottles
- Cans
- Boxes
- Building & Constructions
- Steel
- Pipes
- Timber
- Logistics & Transportation
- Pallets
- Containers
- Consumer Goods
- Electronic Appliances
- Furniture
- Pharmaceuticals
- Agriculture
By Region
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East & Africa
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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