The global polyester straps market size is expected to be valued at USD 1.0 billion in 2023. Growing preference for cost-effective solutions, bolsters the overall scope for polyester straps market, which is projected to grow at a CAGR of 7.4% between 2023 and 2033, totaling around USD 2.1 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Polyester Straps Market Value 2023 | USD 1.0 billion |
| Polyester Straps Market Projected Value (2033) | USD 2.1 billion |
| Polyester Straps Market CAGR (2023 to 2033) | 7.4% |
Technological advancements in strap manufacturing have played a vital role in boosting the growth of the polyester straps market. The advancements have led to the development of high-quality straps with improved properties, making them more durable, reliable, and efficient for various strapping applications.
One of the key technological advancements in strap manufacturing is the use of advanced machinery and equipment. Manufacturers are investing in state-of-the-art production machinery that allows for precise control over the manufacturing process.
Automated machines are capable of producing polyester straps with consistent dimensions, uniformity, and strength. The machines ensure the efficient and accurate production of straps, reducing human errors and enhancing overall productivity.
Advancements in polymer chemistry have resulted in the development of polyester resins with enhanced properties. Polyester straps are typically made from polyethylene terephthalate (PET) resin, which is known for its excellent strength, flexibility, and resistance to abrasion.
Manufacturers have been able to optimize the formulation of PET resin, through research and development efforts, resulting in straps with higher tensile strength, improved elongation characteristics, and increased resistance to environmental factors such as UV radiation and weathering.
Another notable technological advancement is the introduction of specialized coating technologies. Coatings applied to polyester straps can provide additional benefits such as enhanced grip, reduced slippage, and improved resistance to friction.
The coatings improve the overall performance of the straps, ensuring secure and reliable strapping in various applications. Advanced coating technologies also enable the customization of straps for specific requirements, such as anti-static properties or resistance to chemicals.
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The global demand for polyester straps is projected to increase at a CAGR of 3.2% during the forecast period between 2018 and 2022, reaching a total of USD 2.1 million in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the polyester straps market was valued at USD 973 million in 2022.
Traditional plastic straps, such as those made from polypropylene (PP) or polyethylene (PE), have raised concerns due to their negative impact on the environment. The plastic straps are derived from fossil fuels and have limited recyclability. improper disposal of plastic straps can contribute to pollution, waste accumulation, and harm to ecosystems.
There is a rising demand for sustainable alternatives, in response to these concerns, including polyester straps made from recycled or recyclable materials.
Recycled polyester straps are manufactured using post-consumer or post-industrial waste materials, such as plastic bottles or industrial scrap, which are processed and transformed into polyester resin. The recycling process reduces the consumption of virgin resources and decreases waste generation.
Polyester straps made from recyclable materials can be recycled and used to produce new straps or other polyester products. The closed-loop recycling system helps minimize waste and conserve resources. It also aligns with circular economy principles, which emphasize the reuse and recycling of materials to create a more sustainable and efficient system.
The adoption of sustainable polyester straps offers several benefits. It helps reduce the reliance on non-renewable resources and decreases the carbon footprint associated with the production of virgin materials. The environmental impact of polyester straps is significantly reduced by utilizing recycled or recyclable materials.
The use of sustainable polyester straps aligns with the sustainability goals and commitments of companies across various industries. Many businesses are proactively implementing eco-friendly practices and seeking packaging solutions that support their sustainability initiatives.
Companies can enhance their environmental stewardship, improve their brand image, and meet the increasing consumer demand for sustainable products, by using sustainable polyester straps.
Increasing Demand from Automotive Industry is Likely to be Beneficial for Market Growth
The adoption of lightweight and high-performance polyester straps is a significant trend driving the growth of the polyester straps market. The straps offer an excellent combination of strength and weight, making them ideal for industries where weight reduction and efficiency are crucial considerations.
One of the key advantages of polyester straps is their high strength-to-weight ratio. Compared to other strapping materials such as steel, polyester straps provide comparable strength while being significantly lighter.
This lightweight characteristic offers several benefits. It makes handling and maneuvering the straps easier, reducing physical strain and improving worker productivity. The lightweight nature of polyester straps also contributes to faster and more efficient strapping operations, saving time and labor costs.
The use of lightweight polyester straps is particularly valuable in industries that require frequent or extensive strapping, such as logistics, shipping, and warehousing. The industries often deal with high-volume packaging and transportation, where the weight of strapping materials can have a significant impact on overall costs.
Companies can reduce the weight of packaging materials without compromising on the strength and security of the strapped goods, which leads to cost savings in terms of transportation expenses, as lighter straps contribute to lower fuel consumption and improved vehicle efficiency.
The lightweight nature of polyester straps also offers benefits in terms of environmental sustainability. Reduced weight in packaging materials leads to lower carbon emissions during transportation, contributing to a greener and more sustainable supply chain. Companies are actively seeking lightweight packaging solutions that can help them reduce their carbon footprint, with the increasing focus on environmental responsibility.
Customization & Branding Opportunities to Fuel the Market Growth
Customization and branding opportunities are key factors contributing to the growth of the polyester straps market. Polyester straps can be easily customized and printed with various designs, logos, company names, or promotional messages, offering companies a unique and effective way to enhance their brand visibility and product differentiation.
Companies can create a packaging solution that aligns with their brand image and values, by customizing polyester straps. The ability to print company logos or names on the straps allows for consistent branding across packaging materials, reinforcing brand recognition and recall.
Custom-printed polyester straps can serve as a powerful marketing tool, as they are visible during handling, transportation, and storage of goods. The visibility helps to create a positive brand impression and can attract attention from potential customers or business partners.
Customized polyester straps enable companies to communicate important information or messages to their customers, which can include product details, handling instructions, safety precautions, or even promotional offers.
Companies ensure that crucial information is readily available to customers, making their packaging more informative and user-friendly, by printing such information on the straps, which can lead to improved customer satisfaction and loyalty.
The ability to customize polyester straps also offers product differentiation in a competitive market. Companies can make their packaging stand out from competitors and create a memorable visual impact, by using unique designs, colors, or patterns.
Customized polyester straps provide an opportunity to showcase creativity and innovation, making the packaging more visually appealing and attractive to consumers. The differentiation can help companies capture consumer attention, increase brand recall, and ultimately drive sales.
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5 mm to 15 mm to Take the Lion’s Share
The polyester straps with less thickness can be produced using less amount of raw material, which offers manufacturers increased profit margins.
These have high strength along with excellent prolongation properties offered by polyester straps, even with minimum width that makes it a preferred choice for end-user industries as well as logistical partners.
Out of the total polyester straps sold across the globe in 2022, almost 1/3rd of them have a width between 5mm to 15mm. The segment is expected to hold a CAGR of 7.3% during the forecast period.
Bundling to Take the Lion’s Share
In all operations of the supply chain right from the manufacturer’s place to the seller or final consumer, the safety of cargo is viewed as the most important part during transit. Loose goods or cargo always pose a risk of spillage or wastage during any stage of the supply chain, which results in irrecoverable damages for all stakeholders.
Bundling has emerged as a universally chosen method to ensure the safeguarding of the cargo, to enhance the safety of the cargo during all types of transit. The total sales of polyester straps used for bundling are expected to increase by USD 230 million over the analysis period. The segment is expected to hold a CAGR of 7.2% during the forecast period.
Increasing International Trade to Boost the Market Growth
According to the World Trade Organization, the total exports done by the United States are valued at USD 1.4 trillion in 2022, and total imports by the country are valued at USD 2.4 trillion 2022. The United States is one of the major international trade partners of all the countries globally.
The recent government relief package for economic recovery in the post-pandemic period indicates the rise of international trade in the United States over the forecast period. The country is expected to hold a CAGR of 7.3% over the analysis period.
The rising international trade has a direct relation with increasing demand for polyester straps for several applications such as palletizing and bundling of cargo for ensuring safety during the voyage.
The increased exports and imports also fuel the domestic trade within the country which includes a transit of cargo to the farthest markets using rail, and road networks which also generates a significant demand for polyester straps across the country. The country accounted for 77% of total sales of polyester straps across North America in 2022.
Rise in Manufacturing Activities to Boost the Market Growth
According to the latest data from the Ministry of Commerce and Industry in India, the total exports done by the country were valued at USD 58 billion in 2022, while the total imports in India were valued at USD 72 billion in 2022.
The initiatives by the government of India to provide smooth processing of Foreign Direct Investment in the country, makes India an emerging global manufacturing hub for all kinds of industries.
The sharp rise in manufacturing activities across the country attracts globally renowned companies to set up their operational facilities to achieve economies of scale. Sales of polyester straps across India are estimated to grow at 8.5% CAGR over the next decade, making it the fastest-growing offering country across the Asia-Pacific region.
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Key players in the polyester straps market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their polyester straps production capacities, to cater to the demand from numerous end use industries.
Prominent players are also pushing for geographical expansion to decrease the dependency on imported polyester straps.
Recent Developments:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia & Pacific; South Asia; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel. |
| Key Segments Covered | Thickness, Packing Grade, Width, Breaking Strength, End Use Industry, Application, and Region |
| Key Companies Profiled | Teufelberger holding ag; Samuel Strapping Systems; FROMM Packaging Systems Inc.; Mosca GmbH; Industrial Yarns Pty Ltd.; Linder GmbH; The Plastic Strapping Company Ltd; Northshore Strapping Company; Plastic Extruders Ltd.; National Webbing Products; Campanini UGO S.P.A; Signor limited; Consent LLC; Narrowtex Pty (Ltd.); Universal Strapping Inc.; Mil-Spec Packaging; Bowmer Bond Narrow Fabrics Limited; Nottingham Narrow Fabrics Ltd; DAE YANG STRAPS CO., LTD; Johnson Plastics & Supply |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market size is expected to be valued at USD 1 billion in 2023.
Mosca GmbH, Consent LLC, and Signor Limited are key market players.
The rise in manufacturing activities boosts market growth in India.
Expansion of the retail sector enhances the market growth.
The market is estimated to reach USD 2.1 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Thickness 5.1. Below 0.5mm 5.2. 0.5mm-0.75mm 5.3. 0.76mm-1mm 5.4. Above 1mm 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packing Grade 6.1. Hand Grade 6.2. Machine Grade 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Width 7.1. 5mm-15mm 7.2. 16mm-25mm 7.3. 26mm-35mm 7.4. Above 35mm 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Breaking Strength 8.1. Up to 220kg 8.2. 221kg to 300kg 8.3. 301kg to 500kg 8.4. 501kg to 1,000kg 8.5. Above 1,000kg 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Industry 9.1. Food & Beverage 9.2. Pharmaceuticals 9.3. Electronics & Electricals 9.4. Automotive 9.5. Construction & Allied Industries 9.6. Paper & Allied Industries 9.7. Textiles & Apparels 9.8. Chemicals & Fertilizers 9.9. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 10.1. Heavy Duty Bailing 10.2. Bundling 10.3. Palletizing 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. South Asia and Pacific 11.6. East Asia 11.7. Middle East and Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 19. Key Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Teufelberger holding ag 21.2. Samuel Strapping Systems 21.3. FROMM Packaging Systems Inc. 21.4. Mosca GmbH 21.5. Industrial Yarns Pty Ltd. 21.6. Linder GmbH 21.7. The Plastic Strapping Company Ltd 21.8. Northshore Strapping Company 21.9. Plastic Extruders Ltd. 21.10. National Webbing Products 21.11. Campanini UGO S.P.A 21.12. Signor limited 21.13. Consent LLC 21.14. Narrowtex Pty (Ltd.) 21.15. Universal Strapping Inc. 21.16. Mil-Spec Packaging 21.17. Bowmer Bond Narrow Fabrics Limited 21.18. Nottingham Narrow Fabrics Ltd 21.19. DAE YANG STRAPS CO., LTD 21.20. Johnson Plastics & Supply 22. Assumptions & Acronyms Used 23. Research Methodology
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Polyester Straps Market
