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Plastic Straps Market To Grow To Reach USD 2581.1 Mn By End of 2023

Plastic Straps Market Overview

The global plastic straps market is eyeing for a market valuation of USD 2581.1 million during the forecast period (2018-2023) which would be a substantial leap from its worth of USD 1280 million (2017). In doing so, the plastic straps market can also clock an impressive CAGR of 12.40% during the forecast period, reveals Market Research Future (MRFR). The report on the same market has its fingers on extensive researches regarding segments and drivers that can boost the coming years of the plastic straps market. Plastic straps are enjoying an advantage over the conventional metal straps owing to its reduced weight and cost-effectiveness. Furthermore, its demand in the emerging nations such as India and China are touching the sky which can be considered significant boosters for the market growth.

However, the plastic straps market can experience a depressing growth run owing to its environmental impacts. Growing eco-awareness can put a leash on the projected plastic straps market growth during the forecast period. But bio-based plastic straps are evolving as potential gamechanger and can bring out the plastic straps market from any future whirlpools.

Regional Analysis

The Asia Pacific market is dominating the global plastic straps market with a significant share. The regions immense economic potential and the fact that it is growing at the highest CAGR during the assessment period is expected to keep the APAC plastic straps market in a top level position. The region has several emerging economies that are attracting major market players as the regions industrial sector is globally significant and expanding at a rapid growth rate. With manufacturing in the APAC being comparatively cheaper with the easy availability of labour, the market for plastic straps in the region is expected to expand considerably. Moreover, the regions consumption pattern for end-use prodcuts has shifted considerably. The demand for consumer products has grown distinctly in the last decade or so due to the increased buying power of consumers living emerging economies of the APAC.

Key Players

  • Auto Strap (India)
  • FROMM Packaging (US)
  • Crown Holdings (US)
  • Teufelberger (Austria)
  • Polychem Corporation (US)
  • Dubose Strapping (US)
  • Scientex Berhad(Malaysia)
  • Messersi Packaging (Italy)
  • Polychem Corporation (US)
  • PAC Strapping (US).

Market Segmentation

The global plastic straps market has been segmented in MRFR’s market report to properly divide the market into its key parts. Segmentation of the market has been performed on the basis of type, end-user, and region. Types of plastic strap have been segmented into nylon straps, polypropylene straps, polyester straps, and others.

End-users of plastic straps have been segmented into steel, cotton, paper, fiber, bricks & tiles, and others.

Regions that have been covered in the report include Europe, North America, Asia Pacific and the Rest of the World.

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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