The Plastic Straps Market is projected to grow from USD 1.32 billion in 2017 to USD 3.68 billion by 2023, at a CAGR of 18.8 % from 2018 to 2023. The growth of the plastic straps market is driven by the increasing use of plastic straps in the paper, steel, and bricks & tiles industries. The base year considered for the study is 2017 while the forecast period is between 2018 and 2023.

The main objective of this study is to define, describe, and forecast the plastic straps market based on type, end-use industry, and region. The report includes detailed information about the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the plastic straps market. This report strategically analyzes different segments of the plastic straps market with respect to the individual growth trends, growth prospects, and their contribution to the overall market. Based on type, the plastic straps market has been classified into polyester straps, polypropylene straps, nylon straps, and others (paper straps, composites straps, and corded & woven straps). Based on end-use industry, the market has been classified into paper, steel, cotton, fiber, bricks & tiles, and others (print and corrugated boards). The plastic straps market has been studied in Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The size of the plastic straps market has been estimated, in terms of both, value and volume.

Both, top-down and bottom-up approaches have been used to estimate and validate the size of the plastic straps market and to estimate the size of various other dependent submarkets. Extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, Organization for the Economic Co-operation and Development (OECD), the World Bank, the Securities and Exchange Commission (SEC), and other government and private websites have been referred to identify and collect information useful for this technical, market-oriented, and commercial study of the plastic straps market.

Some of the major market players active in the plastic straps market include Crown Holdings (US), Polychem Corporation (US), Teufelberger (Austria), FROMM Packaging (US), Messersi Packaging (Italy), Dubose Strapping (US), Auto Strap (India), and PAC Strapping (US).

Key Target Audience:

• Manufacturers of Plastic Straps
• Raw Material Suppliers
• Providers of Technologies Used for Manufacturing Plastic Straps
• Traders, Distributors, and Suppliers of Plastics Straps
• End-use Industries
• Government and Regional Agencies and Research Organizations
• Investment Research Firms

“The study answers several questions for the stakeholders, primarily which market segments to focus on in the next two-to-five years for prioritizing their efforts and investments.”

Scope of the Report:

This research report categorizes the plastic straps market based on type, end-use industry, and region.

Plastic Straps Market, by Type:

• Polyester Straps
• Polypropylene Straps
• Nylon Straps
• Others( Paper Straps, Composites Straps, and Corded & Woven Straps)

Plastic Straps Market, by End-use Industry:

• Paper
• Steel
• Bricks & Tiles
• Fiber
• Cotton
• Others (Print and Corrugated Boards)

Plastic Straps Market, by Region:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

The market has been further analyzed for key countries in each of these regions.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

End-use Industry Analysis

• A product matrix, which gives a detailed analysis of various types of plastic straps used in each end-use industry.

Regional Analysis

• A further breakdown of the regional plastic straps market to the country level

Company Information

• Detailed analysis and profiling of additional market players (up to 5)

The plastic straps market is projected to grow from USD 1.55 billion in 2018 to USD 3.68 billion by 2023, at a CAGR of 18.8% from 2018 to 2023.

The plastic straps market has witnessed significant growth in the recent years, owing to increasing use of plastic straps in the bricks & tiles, paper, and cotton industries. The demand for plastic straps is increasing in these industries due to various properties offered by them that include high flexibility, ease of handling, and lightweight.

Based on type, the plastic straps market has been segmented into polyester straps, polypropylene straps, nylon straps, and others (paper straps, composites straps, and woven straps & corded straps). The polypropylene straps segment led the plastic straps market in 2017, in terms of value. The growth of this segment of the market can be attributed to the wide applicability of these straps in various end-use industries as they offer high tensile strength, increased flexibility, ease of handling, and excellent elongation properties.

Based on end-use industry, the plastic straps market has been segmented into steel, paper, fiber, bricks & tiles, cotton, and others (print and corrugated boards). The paper end-use industry segment is projected to lead the plastic straps market, in terms of value during the forecast period.

The plastic straps market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The Asia Pacific plastic straps market is projected to grow at the highest CAGR, in terms of value during the forecast period. The continuously rising middle-class of the Asia Pacific region and their increasing purchasing power and disposable income have led to the growth of the paper, steel, and bricks & tiles industries in the region. This, in turn, has led to the increased demand for plastic straps from these industries, thereby fueling the growth of the Asia Pacific plastic straps market.

The plastic straps market is expected to witness significant growth during the forecast period. However, fluctuating prices of raw materials used for manufacturing plastic straps are expected to hinder the growth of the market across the globe.

Crown Holdings (US), Polychem Corporation (US), Teufelberger (Austria), FROMM Packaging (US), Messersi Packaging (Italy), Dubose Strapping (US), Auto Strap (India), and PAC Strapping (US) are the key companies operating in the plastic straps market.