PVC Packing Straps Market Overview
According to a recent survey conducted by ChemView Consulting, the Global PVC Packing Straps Market grew at a CAGR of 3.5% between 2017-2021 and is estimated to be US$ 184.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.0% and is expected to reach a valuation of US$ 272.8 Mn by 2032 end.
The demand for these straps is likely to surge in the logistics industry, with an urgent need to pack goods well to prevent damage. Expansion of the e-commerce industry and the increasing shift of retailers towards cross-platforming are anticipated to aid growth.
ChemView Consulting has analyzed that Plastic belts are one of the most used materials in the transport and logistics sector. Its lightweight, low cost, and easy to use make it the latest choice for shipping goods. The demand for plastic straps is increasing due to their low price, high recycling rate, and non-toxic properties that can be used many times to reduce shipping costs.
Plastic straps also have negative implications. In addition to being not environmentally friendly, which can dramatically impact demand for plastic straps in the forecast era; although bio-based plastics may be a possible alternative since they will certainly denounce the risks of eco-consciousness.
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Segments Covered in Report
- Below 0.5mm
- Above 1mm
By End-Use Industry:
- Food & Beverage
- Electrical & Electronics
- Building & Construction
- Chemicals & Fertilizers
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the PVC Packing Straps Market
- Based on the Thickness, the Below 0.5 mm Segment is estimated to exhibit an exponential growth of 6x (2021); packing straps below 0.5 mm thickness are considered the ideal size and the preferred choice of end-use industries.
- By end-use industry, the e-commerce segment will likely generate the highest PVC packing straps market share of 19.6% in 2022. the growing demand for e-commerce merchandise in retail stores and the rising use of social media platforms are expected to stimulate market growth in the next five years.
- Based on Region, the Asia Pacific market held a sizeable revenue share of 47.9% in 2021. Asia Pacific market is estimated to be a prevalent region within the upcoming years. The growing plastics strap industry has attracted many investors in the area. Moreover, countries like China and India are helping to grow the demand for plastic straps in the market. This was due to the increase in setting up more industries for the product to minimize logistics costs, which will gain more profits.
Key companies covered in the market study are Teufelberger Stralsund GmbH, Cyklop International, PAC Strapping Products, Inc., CONSENT L.L.C, DuBose Strapping, Inc., Crown Holdings, Inc., Polychem Corporation, Mosca GmbH, FROMM Group, Auto Strap India, LINDER GmbH
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- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
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About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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