What is the future of Plastic Straps Market? Know Covid Impact on Size, Share & Forecasts
July 01, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Plastic Straps Market.
It was estimated prior to this unanticipated outbreak that the Plastic Straps Market was expected to grow at a CAGR of 19.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Plastic straps are used in attaching, binding, or even covering up the different items. These are known to have extensive properties such as durability, flexibility, and ease in handling.
Plastic straps can be available in different types based on the items that are to be strapped. Normally, these straps are highly used in industries of steel, cotton, paper, fiber, bricks, and also some others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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.
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.
In terms of regions, Asia-Pacific is expected to register high 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Plastic Straps Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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