The global forecast for the packaging tensioner market expects a modest expansion, with a market size estimated at USD 1.1 billion in 2023. The estimated CAGR of 3.2% from 2023 to 2033 suggests that the global worth of the packaging tensioner market is anticipated to soar to USD 1.5 billion by 2033.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2023) | USD 1.1 billion |
Anticipated Forecast Value (2033) | USD 1.5 billion |
Estimated Growth (2023 to 2033) | 3.2% CAGR |
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Booming E-commerce in Emerging Economies aids the Packaging Tensioner Market
The booming e-commerce and online retail sector significantly drive the growth of the packaging tensioner market. As e-commerce continues its meteoric rise, so does the need for efficient and secure packaging solutions to meet the demands of online shoppers.
Packaging tensioners come into play as essential tools in the final stages of the packaging process, ensuring that goods are tightly and securely wrapped. This is vital for the safe transportation of products from online retailers to the customers' doorsteps.
Packaging tensioners enable e-commerce businesses to securely strap, seal, and bundle items, reducing the risk of damage during transit. This factor drives the demand for packaging tensioners to provide a positive customer experience and minimize the costs associated with damaged goods, returns, and customer dissatisfaction.
The demand for packaging tensioners is expected to grow in tandem as long as the e-commerce industry continues to thrive and diversify.
The packaging tensioner market is closely tied to the development of various industries like manufacturing, logistics, and e-commerce. In the last few years, the global packaging tensioner market has seen a series of ups and downs due to the COVID-19 pandemic and the recessionary economic times following it.
There was a tremendous reliance on online retailers which required effective packaging solutions as local businesses faced shutdowns. This trend of online shopping is expected to continue for the long term. Small or well-established businesses will require efficient packaging solutions, potentially driving the demand for packaging tensioners.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2018) | USD 0.89 billion |
Anticipated Forecast Value (2022) | USD 1.0 billion |
Estimated Growth (2018 to 2022) | 3.1% CAGR |
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Plastic packaging tensioners are generally designed to fulfil the requirements of modern industrial settings. Based on material, the packaging tensioner market is segmented into plastic, metal, steel, etc.
Plastic packaging dominates the market with a global revenue share of 75.6%. Their demand in the manufacturing sector has been noteworthy due to their durability, corrosion resistance, ease of use, cost-effectiveness, and versatility.
Attributes | Details |
---|---|
Material | Plastic |
Market share | 75.6% |
Plastic packaging tensioners are lighter than their metal counterparts, further fuelling their demand in the broad spectrum of industries. In small-scale industries with limited financial resources, a noticeable need for plastic tensioners is experienced. This is because they are relatively less expensive than other alternatives.
Industries also prefer plastic tensioners because they typically require zero maintenance due to their minimum susceptibility to rust and corrosion.
The packaging tensioner market is divided into manual, semi-automated, and automated segments based on operation. Manual packaging tensioners dominate the market with a global revenue share of 65.1%. This type of tensioner is generally demanded over automated ones as they are easy to operate and require minimal training.
Manual tensioners become highly beneficial for small-scale enterprises due to their high affordability and low maintenance.
Attributes | Details |
---|---|
Operation | Manual |
Market share | 65.1% |
The demand for manual packaging tensioners in the industries is driven by the portability they offer in comparison to the fully automated ones, which are difficult to maneuver. Manual tensioners also offer relentless user control, making them an important component of packaging.
Manual packaging tensioners are also becoming popular because they leave less to zero carbon footprint during their operations. As industries become more conscious about their impact on the environment, the demand for manually operated packaging tensioners is likely to foresee a significant surge.
Country | CAGR |
---|---|
India | 5.7% |
China | 5.1% |
Thailand | 4.6% |
South Korea | 3.9% |
The United Kingdom | 3.5% |
The market in India has been experiencing remarkable industrial development owing to government initiatives like ‘Make in India.’ Also, the significant growth of the e-commerce industry in India has resulted in a higher volume of goods being packaged and shipped. With this progress, the demand for effective packaging solutions increases, and, thus, packaging tensioners are also on the rise. The market is anticipated to showcase a steady growth of 5.7% CAGR from 2023 to 2033.
The demand for packaging tensioners is also rising as India becomes one of the largest hubs for the production of various goods. To cater to various countries across the globe, robust packaging and warehousing facilities are a must, which requires effective packaging mechanisms, including tensioners.
The future of the packaging tensioners market in India seems promising, with increased emphasis on efficient and standardized packaging solutions to meet international export requirements.
The economy of China in these past few years has been soaring thanks to its adoption of technological innovations. The manufacturing and production sectors have flourished, contributing to the increased need for efficient packaging solutions. This growth has been particularly evident in China's bustling e-commerce industry. It relies on secure and reliable packaging methods to meet the demands of online retail and international shipping.
The packaging tensioners market in China is expected to develop at a modest rate of 5.1% CAGR from 2023 to 2033. With a thriving manufacturing landscape, a booming e-commerce sector, and an emphasis on quality assurance, the demand for packaging tensioners is rising.
Efficient and standardized packaging solutions are becoming increasingly critical as China continues to integrate into the global supply chain. In turn, it is positioning the market for packaging tensioners on a trajectory of sustained growth and innovation.
International companies often bring advanced packaging technologies and equipment to their operations in Thailand. These technologies may include best-in-class packaging tensioners that are known for their efficiency, precision, and reliability.
In Thailand, the packaging tensioner market is projected to expand at a 4.6% CAGR in the next decade. As Thailand continues to position itself as a manufacturing and export hub, these advanced tensioning tools play a pivotal role in cementing their significance in the country's industrial landscape.
Local industries strive to match the quality and standards set by these international players. To achieve this, they seek out the latest packaging solutions, including tensioners to ensure that their products are packaged securely and maintain their quality during transportation. In the long term, this significantly impacts the overall packaging tensioner market.
South Korea's government has been actively supporting the manufacturing and export sectors, providing incentives and assistance to businesses. This support has significantly boosted demand for advanced packaging equipment like tensioners as companies seek to meet international standards and secure their export products effectively. This initiative has fuelled market expansion, opening new avenues for packaging equipment manufacturers.
Improved infrastructure has made it more convenient for local businesses to adopt advanced packaging techniques and enhance the overall logistics and supply chain. Consequently, it is driving up demand for secure and efficient packaging solutions like tensioners. This confluence of modern infrastructure and heightened demand has contributed to the robust growth of the packaging tensioners market in the region.
The market for packaging tensioners has been going through a stable patch in recent years. The presence of numerous companies that fulfil the demands of local and global markets has saturated the market. However, little scope for innovations and limited applications have deterred companies from investing in the development of new packaging tensioners.
There is still room for packaging tensioner companies to explore untapped opportunities, despite these challenges. The opportunities are diversifying into related packaging accessories and expanding their global reach through strategic partnerships and innovative marketing approaches.
Recent Developments in the Packaging Tensioner Market
The global packaging tensioner market is expected to reach a valuation of USD 1.1 billion in 2023.
The market is anticipated to expand at a CAGR of 3.2% from 2023 to 2033.
The market is estimated to reach USD 1.65 billion by the end of 2033.
The urge to secure the product during storage & transportation is the key factor.
FROMM Packaging Systems, SPECTA AG, and DSB Packaging are the leading companies.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Plastic 5.1.1. Polyester 5.1.2. Polypropylene 5.2. Metal 5.2.1. Steel 5.2.2. Aluminium 6. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Operation 6.1. Manual 6.2. Battery-operated 7. Global Market 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food & Beverages 7.2. Pharmaceuticals 7.3. Chemicals 7.4. Building & Construction 7.5. Agriculture 7.6. Automotive 7.7. Logistics & Transportation 7.8. Homecare 7.9. Others 8. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market 17. Market Structure Analysis 18. Competition Analysis 18.1. FROMM Packaging Systems 18.2. Dynaric, Inc. 18.3. North Shore Strapping Inc. 18.4. Samuel Packaging Systems Group 18.5. Transpak Equipment Corp 18.6. Tiger Pack, Inc. 18.7. Venus Hartung Pty Ltd. 18.8. Wenzhou Zhenda Packing Machine Co., Ltd. 18.9. Sal-Tech Easy Packaging 18.10. Yang Bey Industrial Co., Ltd. 18.11. Signode India 18.12. ASN Packaging Private Limited 18.13. Mandsorwala Packaging 18.14. KGN Enterprises 18.15. Sai Packaging Industries 18.16. TITAN Umreifungstechnik GmbH and Co. KG 18.17. Polychem Corp. 18.18. Teknika Strapping Systems 18.19. Vijay Enterprise 19. Assumptions & Acronyms Used 20. Research Methodology
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