Strapping refers to packaging material of plastic, Steel, Polyester, Nylon, Paper, and others. The strapping market has high growth prospects owing to increasing e-commerce industry. Increasing demand for household appliances, consumer electronics, medical devices, pharmaceutical products, and others supplementing the growth of strapping materials. Further, development in environment-friendly strapping material and increasing demand from numerous sectors such as construction, pharmaceutical, warehouse, logistics, and others driving the growth for the strapping market. According to AMA Research, the market for Strapping is expected to register a CAGR of 5.9% during the forecast period to 2027.
This growth is primarily driven by Increasing Demand from Shipping and Packaging Industry
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The Paper Packaging sector in the region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region.
Major Vendors, such as FROMM Group (Switzerland), Anshan Falan (China), Shanghai Baosteel Packaging Material Co., Ltd. (China), M.J.Maillis Group (United States), Polychem Corporation (United States), Mosca GmbH (Germany), Cordstrap India Private Limited (India), CBS Packaging Group (United Kingdom), Bhushan Steel (India), Scientex Berhad (Malaysia), Teufelberger (Germany), Signode (India), TITAN Umreifungstechnik (Germany) and Midfield industries LTD. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
29th November 2018, CBS Packaging Group, cardboard box manufacturers invest in taping machinery to boost its e-commerce packaging business. The new taping equipment allows the company to produce corrugated packaging with pre-applied hot melt adhesive tapes.Fragmented nature of the market owing to numerous players in the market. Market leaders are focusing on developing advanced strapping materials. Increasing demand from numerous industries generating lucrative opportunities for the companies involved in strapping production.
Increasing Applications of Strapping Materials in Warehouse and Logistics and Growing Demand for Steel Strapping Material from Construction Industry
Market Growth Drivers:
Increasing Demand from Shipping and Packaging Industry and Emphasizing On Bio-Based Plastic Strapping Material
Developing Environmental-Friendly Packaging Material
Concerns Regarding Waste Management of Strapping Material and Fluctuating Raw Material Prizes
Technological Advancement in Strapping Machineries and Rising Demand from Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Strapping Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Strapping Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Strapping players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Strapping Study Sheds Light on
The Strapping Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Strapping industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Strapping industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.