Press release
Polyester Straps Market Growth Set to Surge Significantly During 2022 - 2027
Bundling and palletizing applications are anticipated to hold a 90 percent market share of the worldwide polyester straps market throughout the anticipated timeframe, according to the application-wise estimate.
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What is The Impact of Rising Demand for PET Straps across the Automotive Industry on Global Polyester Straps Market?
Rising usage of polyester straps for seatbelts is projected to drive the polyester straps market share in the automotive industry during the forecast period. Furthermore, polyester straps have replaced nylon webbing as safety equipment in racing cars due to its increased strength, and a lower rate of elongation under load.
In addition to product safety, to overcome government regulations regarding safety, manufacturers are focusing on product innovation. The usage of seat belts is rising due to increasing safety concerns. This is likely to act as an opportunity for the polyester straps market over the forecast period.
E.g., the European New Car Assessment Program (Euro NCAP) has resulted in the installation of seat belts and other safety straps in automobiles. The aforementioned rules are expected to fuel the demand for polyester straps over the next decade.
Global Polyester Straps Market: Regional Forecast
Future Market Insights tracks the performance of the global polyester straps market across the key geographies of North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa. As per the forecast of Future Market Insights, North America polyester straps market is estimated to be valued at US$ 158.3 Mn in the year 2022 and is slated to touch a value of US$ 323.9 Mn in the year 2027, reflecting a CAGR of 7.4% during the assessment period.
The Western Europe polyester straps market is estimated to be valued at US$ 119.8 Mn in the year 2022 and is slated to touch a value of US$ 237.8 Mn in the year 2027, exhibiting a CAGR of 7.1% during the assessment period.
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Competitive Landscape
Globally renowned polyester strap manufacturers are focusing upon offering sustainable polyester straps and positioning themselves as sustainable practitioners:-
In January 2021, Teufelberger was awarded with WorldStar Global Packaging Award for its 100% recyclable strapping produced with lesser raw material and offering enhanced performance.
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.
Global Polyester Straps Market By Category
By Thickness:
Below 0.5mm
0.5mm-0.75mm
0.76mm-1mm
Above 1mm
By Packing Grade:
Hand Grade Polyester Straps
Machine Grade Polyester Straps
By Width:
5mm-15mm
16mm-25mm
26mm-35mm
Above 35mm
By Breaking Strength:
Up to 220kg
221kg to 300kg
301kg to 500kg
501kg to 1,000kg
Above 1,000kg
By End Use Industry:
Food & Beverage
Pharmaceuticals
Electronics & Electricals
Automotive
Construction & Allied Industries
Paper & Allied Industries
Textiles & Apparels
Chemicals & Fertilizers
Others
By Application:
Heavy Duty Bailing
Bundling
Palletizing
By Region:
North America
Latin America
Western Europe
Eastern Europe
Asia-Pacific
Middle East & Africa
Japan
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Table of Content
Executive Summary
1.1. Global Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
Market Overview
2.1. Market Definition
2.2. Market Coverage
Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
Global Polyester Straps Market Demand Analysis 2012-2021 and Forecast, 2022-2027
5.1. Historical Market Volume (000' Tons) Analysis, 2012-2021
5.2. Current and Future Market Volume (000' Tons) Projections, 2022-2027
5.3. Y-o-Y Growth Trend Analysis
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 5 years.
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