Global Plastic straps Market is valued USD 1.1 billion in 2016 is anticipated to grow USD 5.3 billion with the compounded annual growth of 19.2% over the forecast period 2017-2025.
New York 22 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Plastic straps industry is poised to raise USD 5.3 billion by 2025. Some key components for the market development will be; increasing use of plastic straps in the bricks & tiles, paper, and cotton industries. The demand for plastic straps is increasing in these industries due to various properties offered by them that include high flexibility, ease of handling, and lightweight.
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Global Plastic straps Market Size study, by Type (Polyester Straps, Polypropylene Straps, Nylon Straps, Paper Straps, Composite Straps, Corded and Woven Straps), End-Use Industry (Fiber, Steel, Cotton, Paper, Bricks & Tiles), and by Regional Forecasts 2017-2025
The industry is seems to be fairly competitive. Some of the leading market players include Crown Holdings, Polychem Corporation, Teufelberger, Fromm Packaging Systems, Messersì Packaging and so on. Other market players discussed in the report include Changzhou Hua R Sheng Reflective Material Co. Ltd. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The Asia Pacific region accounted for the largest market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation by around XX%
- Continuously rising middle-class of the Asia Pacific region and their increasing purchasing power and disposable income have led to the growth of the paper, steel, and bricks & tiles industries.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Polyester straps
- Polypropylene straps
- Nylon straps
- Paper straps
- Composite straps
- Corded & woven straps
By End User industry:
- Bricks & tiles
- North America
- Asia Pacific
- Latin America
- Rest of the World