Plastic Straps Market to experience an impressive growth of 19.2% during 2020-2025
February 07, 2020
Plastic straps market is likely to witness an impressive CAGR of 19.2% during the forecast period. The increasing use of plastic straps in end-use industries, such as bricks & tiles, paper, cotton, and steel drives the market globally.
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Plastic Straps Market Segment Insights:
By Type:
Based on the type, the market is segmented as polyester straps, polypropylene straps, nylon straps, and others. The polypropylene straps segment dominated the market in 2018, and is expected to remain dominant during the forecast period. The growth is owing to properties, such as elevated flexibility, high-tensile strength, and ease of handling.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented as steel, cotton, paper, fiber, bricks & tiles, and others. The paper segment is estimated to lead the market in the coming five years.
By Region:
In terms of regions, Asia-Pacific is expected to register the highest growth in the coming five years in the global plastic straps market. China and India are the growth engines of the region. The market is sustained by rising disposable income and growing demand for plastic straps from various end-use industries. North America and Europe are also expected to offer sizeable growth opportunities during the forecast period.
Key Players:
Some of the plastic strap manufacturers are Crown Holdings, Fromm Packaging Systems, Messers Packaging, Polychem Corporation, Scientex Berhad, Mosca Direct Limited, Dubose Strapping, PAC Strapping Products, and Auto Strap India.
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