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Global Strapping Market Insight July 15, 2022 Comments

The Strapping is forecast to steady increase over the next few years. According to the WK-chem Research “Global Strapping Professional Survey Report 2022, Forecast to 2027”, With the apid development of packaging industry, the Strapping industry is developing at an incredible speed. The main driving forces of the market include substantial expansion in the worldwide packaging sector and the growing requirement to safeguard products against damage during transport. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.4% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:
“The strapping industry is positively affected by the development of the application market, attracting more market participants to join in, and manufacturing products that are more suitable for the market, which brings certain threats to the original enterprises. With the improvement of scientific and technological means of research and development, the diversification of product portfolio is one of the trends of future business development. Enterprises can try to develop products for bundling machines or tools, which is conducive to occupying more markets.” said Johnny, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.

Market insight:
Strapping, also known as bundling and banding, is the process of applying a strap to an item to combine, stabilize, hold, reinforce, or fasten it. The strap may also be referred to as strapping. Strapping is most commonly used in the packaging industry. Strapping in the packaging business is most common. The strap is a flexible flat material, mostly consisting of steel or different plastic materials. Most common applications of Strapping include Tailoring of handling and shipping items together: journals, roof, wood, blocks of concrete, etc. Strapping is usually employed in entire horizontal or vertical bands. Edge protective devices are used to reduce load damages by the tensioning strap and spread the weight at corners. Strappings may also be employed in loops on rail carriages, skids, etc. There has been a rise in demand for consumer electronics, household appliances, pharmaceutical products, medical devices, and textile goods, which is projected to result in an increase in demand for strapping material as a suitable packaging material. Growth in mail orders and the logistics business, along with expansion of the e-commerce industry, is projected to further boost the demand for strapping materials. In response to the COVID-19 crisis, various governments have taken different measures, such as interrupting transportation, closing export trade activities, etc., the market demand for bundling materials has dropped significantly. The scarcity of labor and raw materials also leads to a reduction in production activities, which negatively affects the subsequent development of the market.

Competition Landscape:
Some of the major players in the Strapping market are Signode, MJMaillis Group, Samuel Strapping, Cordstrap, Dynaric, Mosca, FROMM Group and others. Global suppliers of different types of strapping materials are striving towards ramping up their manufacturing activities and are increasingly focusing on new product launches along with partnerships, acquisitions, and mergers, for augmenting their global presence. February 16, 2022, Signode Launches New BPT Steel Strapping Hand Tool. The new tool boasts high performance battery and brushless motor technology, providing electronically controlled and reproducible strapping processes.

Segmentation of Strapping Market:
Based on the Product Type, the market is segmented into Plastic Strapping and Steel Strapping. Steel straps are the most commonly used throughout the world. It’s versatile and highly durable and resistant to environmental extremes and able to secure heavy loads better than just about anything else. Treated and coated steel can also weather through rust and corrosion, as well. With its high tensile strength and resistance to stretching, steel straps are easily the best option for securing heavy loads such as construction materials and is ideal for cross-country shipping for its resistance to strain and the outside elements. Though steel still reigns supreme in the world of strapping, plastic is growing rapidly in popularity for a wide range of uses, from bundling papers to baling light materials such as cardboard and plastics. Plastic straps are cheap, easy to order in bulk, and particularly excel in light-duty applications where steel straps aren’t exactly necessary. Polypropylene strap (oriented or tensilized) is an economical material designed for light to medium duty unitizing, palletizing and bundling. It is available in various widths, thicknesses, and polymer variations (e.g., copolymers). Most polypropylene is embossed, some of which is also printed. This product offers higher elongation at break but tends to have irrecoverable dead stretch with constant stress. Based on Application, the market is segmented into Based on the Application, the market is segmented into Wood Industry, Building Industry, Paper Industry and Textile Industry. In emerging economies, the newspaper and graphics segment has been growing due to an increase in production and circulation of various magazines and print advertisements. This can be attributed to a rise in the number of pages in a newspaper on specific occasions and rapid urbanization. Newspapers and magazines are often used in the packaging industry and this can subsequently increase the uptake of strapping materials in the newspaper and graphics application segment. In the packaging sector, newspapers and magazines are widely utilized, and it might enhance the usage of strap material in the newspaper and graphics applications segment afterward.

Strapping Market: Regional Analysis
On the basis of Geography, the Global Strapping Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The most rapidly developing regional market is expected in the Asia Pacific. This growth is due to the rising application of Strapping materials in food and beverage sectors, industrial logistics and warehouses, and journals and graphics. The Asia-Pacific region has a large population and high demand for consumer goods. With the rapid development of the Internet big data era, online shopping has become the first choice of Chinese consumers, which promotes the rapid development of the logistics and warehousing industry, and indirectly increases the market demand for strapping belts.

Cagr: 4.4%
Largest share area:Asia Pacific
Largest share country:China
Product Type:Plastic Strapping and Steel Strapping
Application:Wood Industry, Building Industry, Paper Industry, and Textile Industry
Leading Company:Signode, MJMaillis Group, Samuel Strapping, Cordstrap, Dynaric