The Latin America, Middle East and Africa Strapping Materials Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 498.0 Kilo Tonnes, showcasing a growth of 6.5% (2023-2030).
In the construction industry, these materials are crucial in supporting and reinforcing building components. These materials are utilized to secure and bundle materials such as lumber, pipes, and metal rods, contributing to the structural integrity of construction projects. These materials are integral to the wood and paper industries for bundling and securing products such as lumber, paper rolls, and cardboard. This ensures these materials' safe transport and storage throughout the supply chain.
Metal industries utilize these materials to secure metal products' coils, sheets, and bundles. The robust nature of steel bands makes them particularly suitable for heavy-duty applications in metal manufacturing and processing. These materials are employed in agriculture for bundling and securing crops, hay, and other agricultural products. In horticulture, these materials support and protect plants during transportation. The retail sector relies on these materials for packaging and securing goods on pallets. This ensures that products remain intact and presentable on retail shelves, contributing to a positive customer experience.
According to the International Trade Administration, in 2021, the Saudi Arabian Government announced plans to invest $147 billion in transport and logistics by 2030, and it has allocated $9.06 billion for its infrastructure and transportation sector in its fiscal year 2023 budget. These materials are widely used to secure cargo on pallets or in containers during transportation. As the importance of goods being transported increases with the growth of the logistics industry, the demand for these materials rises proportionally. Efficient palletization and unitization are critical for streamlined handling and transportation in the logistics sector. These materials are essential for bundling products on pallets, ensuring stability and ease of handling. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The Brazil market dominated the LAMEA Strapping Materials Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $207 Million by 2030. The Argentina market is showcasing a CAGR of 6.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 5.9% during (2023 - 2030).
Based on Product, the market is segmented into Polypropylene (PP), Steel, and Polyester (PET). Based on Application, the market is segmented into Industrial Logistics & Warehouse, Corrugated Cardboard & Paper, Food & Beverage, Newspaper & Graphics, Building & Construction, and Metal. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Strapping Materials Market is Projected to reach USD 8.9 Billion by 2030, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cyklop GmbH, UNIPACK Pte Ltd., Mosca GmbH, Burlan Manufacturing LLC, Greenbridge (The Sterling Group, L.P.), Signode Industrial Group LLC (Crown Holdings Inc.), StraPack, Corp., TITAN Umreifungstechnik GmbH & Co. KG (PW Lenzen GmbH & Co. KG), 3M Company and Samuel, Son & Co., Ltd.
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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