According to Future Market Insights (FMI), the packaging tensioner market is set for steady growth over the next decade, with its value expected to rise from USD 1.1 billion in 2023 to USD 1.5 billion by 2033. This growth is driven by a compound annual growth rate (CAGR) of 3.2%, as highlighted by the latest industry analysis. This tool tightens bands made of flat steel or plastic around packages or pallets and fastens them together.
Constructed from durable materials, packaging tensioners are designed to operate efficiently over extended periods. They can secure straps at challenging angles and are suitable for a wide range of horizontal and vertical strapping applications.
Packaging tensioners are widely used in the packaging industry across multiple sectors, including consumer goods, merchandise, and food and beverages. Strapping products during shipment enhances packaging strength by providing additional containment.
To protect merchandise, tensioners are essential for holding, combining, and stabilizing products. These tools are commonly used for transporting packed goods, forming straps or bands that bind products securely together.
The increasing demand for safe shipping solutions in sectors such as food and beverages and logistics is driving the growth of the packaging tensioner market during the forecast period.
Key Takeaways from Packaging Tensioner Market
- By material, plastic tensioners are expected to hold almost 60.4% of the market share by 2032 due to its lightweight and elongation, which allows them to stretch tighter when needed.
- The battery-operated packaging tensioner is expected to accelerate at a CAGR of 5.1% between 2022 and 2032 as it allows to strap up more packages and save business time compared to manual tensioners.
- India packaging tensioner market is expected to grow 2.0 times of its size by the end of 2032.
- The U.S. packaging tensioner market is expected to witness incremental $ opportunity of US$ 37.4 MN by the end of forecast period.
Competitive Landscape
The packaging tensioner market is expected to be fragmented and very competitive. Key participants use a variety of showcasing methods, including new product launch and mergers. Most of the key players operating in the packaging tensioner market are switching towards the usage of advance packaging. Leading players similarly utilize new product development as an essential method for growing their market presence among customers. Some of the recent developments in the market are as follows:
Key Companies in the Packaging Tensioner Market
- Allstrap Steel and Poly Strapping Systems
- M.J. MAILLIS GROUP
- Fromm Packaging Systems Inc.
- Nefab Packaging Inc.
- Caristrap International Inc.
- Signode Protective Packaging Solutions
- MESCORD
- VG Enterprises
- American Strapping Company
- Multitech Products Pvt. Ltd.
- SPECTA AG
- Future Packaging
- Global Strap CC
- Jiangsu Trumpstrap Packaging Technology Co., Ltd.
- Matco Packaging LLC
- Royal Packaging Industries
- Lifex
- DSB Packaging
- Rhino Strapping Products, Inc.
- Carolina Strapping and Buckles Company (CS&BC)
Packaging Tensioner Market by Category
By Material:
- Plastic
- Polyester
- Polypropylene
- Metal
- Steel
- Aluminium
By Operation:
- Manual
- Battery-operated
By End Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Building & Construction
- Agriculture
- Automotive
- Logistics & Transportation
- Homecare
- Others (Textile, Cosmetics & Personal Care)
Report Preview: https://www.futuremarketinsights.com/reports/packaging-tensioner-market
About Future Market Insights (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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