The Global Strapping Materials Market size is expected to reach $8.9 billion by 2030, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,102.5 Kilo Tonnes experiencing a growth of 4.3% (2019-2022).
These materials are used to secure and bundle stacks of printed materials as they come off the printing press. This facilitates the organization and efficient handling of printed sheets or newspapers during the printing process. Consequently, newspaper & graphics segment would account for nearly, 8% of the total market share by 2030. For large-scale printing operations that use rolls of newsprint, these materials are employed to secure the rolls during storage and transportation. This prevents unwinding or damage to the rolls, providing they remain in optimal condition until they reach the printing press. Some of the factors impacting the market are expansion of the e-commerce sector, growing urbanization and population growth and competition from alternative materials.
With the rise of e-commerce, there is a heightened emphasis on secure packaging to ensure that products reach customers in good condition. These materials are crucial in providing stability to packages and preventing damage during shipping. Automating packaging processes in e-commerce fulfillment centers has led to increased use of strapping machines. These machines efficiently apply these materials to packages, contributing to the speed and accuracy of the packaging process. Due to the e-commerce increasing investment in advanced packaging automation solutions, the market has become more curial. Additionally, Urbanization often corresponds with increased consumption due to the concentration of people in urban centers. This higher demand for consumer goods results in greater production, distribution, and transportation activities, driving the need for these materials to secure and protect these products. Furthermore, urbanization is often accompanied by extensive construction projects to accommodate the growing population. These materials are essential in the construction industry for bundling and securing materials such as pipes, lumber, and metal components, contributing to the demand for strapping solutions. Due to the above-mentioned factors, a boost in market growth is expected.
However, Stretch films, which are versatile and commonly used for palletizing and bundling, can substitute these materials. The ease of application and the ability to wrap around irregularly shaped loads without additional tools make stretch films an attractive alternative. Moreover, adhesive duct and reinforced tapes are alternatives for bundling and securing products. Sealants and adhesive solutions may also be used as an alternative to strapping in specific applications, reducing the reliance on traditional materials. Due to the above factors, market growth will be hampered in the coming years.
On the basis of application, the market is segmented into food & beverage, industrial logistics & warehouse, corrugated cardboard & paper, newspaper & graphics, building & construction, and metal. The building & construction segment acquired a substantial revenue share in the market in 2022. Strapping is used to secure and bundle construction materials on pallets for easy transportation. It prevents items from shifting or falling during transit and ensures that materials reach the construction site in good condition. Straps may be used to secure roofing materials, such as bundles of shingles or rolls of roofing felt, preventing them from dislodging by wind or other environmental factors. These materials can provide temporary support for components or structures during the construction phase.
Based on product, the market is fragmented into steel, polypropylene (PP), and polyester (PET). The polyester (PET) segment garnered a significant revenue share in the market in 2022. As polyester straps aid in maintaining cargo tension uniformity during transport, they are utilized more frequently for rigid loads. The low elongation and high tensile strength of PET strapping contribute to enhanced safety during transportation and handling. Strapped loads are less likely to shift or become unstable. Polyester strapping is resistant to many chemicals, making it appropriate for applications where exposure to corrosive substances may occur.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 6.2 Billion |
| Market size forecast in 2030 | USD 8.9 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.7% from 2023 to 2030 |
| Number of Pages | 292 |
| Number of Tables | 570 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Thousands, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Application, Region |
| Country scope |
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| Companies Included | 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. |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region registered the highest revenue share in the market. This is because countries in the Asia Pacific region, like China, India, South Korea, and others, witness significant growth in applications like industrial logistics, food & beverage, consumer electronics, and others. The increase in logistic and warehousing activities will increase the demand for these materials in the Asia-Pacific region. Due to high break strength properties, steel straps are often used in this region for bundling metal loads such as metal bars, rods, and coils.
Free Valuable Insights: Global Strapping Materials Market size to reach USD 8.9 Billion by 2030
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 Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $8.9 billion by 2030.
Expansion of the e-commerce sector are driving the Market in coming years, however, Competition from alternative materials restraints the growth of the Market.
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.
In the year 2022, the market attained a volume of 5,102.5 Kilo Tonnes experiencing a growth of 4.3% (2019-2022).
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.4 Billion by 2030.
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