Steel Strapping Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Steel Strapping Market Through 2025?
The market size for steel strapping has seen substantial growth in the past few years rising from $1.18 billion in 2024 to $1.26 billion in 2025 with a compound annual growth rate (CAGR) of 7.2%. This significant growth during the historical period can be ascribed to several factors including the industrial revolution, the expansion of transportation, breakthroughs in packaging, regulations for workplace safety, and heightened environmental consciousness.

What's the Projected Size of the Global Steel Strapping Market by 2029?
In the coming years, the steel strapping market is predicted to exhibit solid expansion, projecting to reach $1.71 billion by 2029, with a compound annual growth rate (CAGR) of 7.9%. The anticipated growth for the said period is backed by factors such as environmental mandate compliance, technological progress, interrupted supply chains, market demand volatility, and the burden of costs. Key trends for the projected period encompass advanced resistance to rust, intelligent monitoring systems, eco-friendly solutions, tailor-fitted solutions for different uses, and the introduction of automation and robotics in management.

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Top Growth Drivers in the Steel Strapping Industry: What's Accelerating the Market?
With a significant upsurge in the construction and infrastructure industries, the steel strapping market is anticipated to witness substantial expansion. The ambit of the construction sector includes planning, creating, and constructing structures, whereas the infrastructure domain is related to the growth and maintenance of fundamental structures such as transportation lines, utilities, and communication networks. Factors such as escalating urbanization, government engagement in public projects, and the increasing need for upgrading and extending existing infrastructures are propelling strong growth in the construction and infrastructure sectors. Steel strapping, which is extensively used in these sectors for securing heavy loads, reinforcing concrete structures, and bundles of materials for transport and storage, is poised to benefit from this growth. For instance, a report published by the Northern Ireland Statistics and Research Agency in June 2023 revealed that the overall construction industry witnessed a 6.5% growth, the housing sector grew by 11.1%, and the infrastructure subsector grew by 3.7% from the first quarter of 2022 to the first quarter of 2023 compared to 2022. Consequently, the thriving construction and infrastructure sectors are fostering the growth of the steel strapping market.

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What Are the Key Trends Driving Steel Strapping Market Growth?
Leading entities in the steel strapping market are prioritizing the development of production facilities that incorporate energy-efficient technologies. This includes the development of eco-friendly production chains that improve efficiency and satisfy growing demands. These innovative production lines make use of energy-saving technologies, recycling methodologies, and modern coatings to reduce environmental damage and endorse sustainability. As an example, in May 2024, Krishca Strapping Solutions Ltd., a manufacturer of high-tensile steel straps located in India, introduced a cutting-edge strapping production line at its premises. This new line is projected to improve the operational efficiency and increase production capacity, with a maximum capacity of 1,500 MT per month. It includes environmentally friendly attributes, demonstrating a significant advancement in meeting the surging needs of the steel sector. This improvement further asserts Krishca Strapping's prominent standing in the packaging industry, equipping it to cater to its customers' evolving needs.

What Are the Main Segments in the Steel Strapping Market?
The steel strapping market covered in this report is segmented -

1) By Type: Blue-Tempered Steel Strapping, Paint-Coated Steel Strapping, Galvanized Steel Strapping, Other Types
2) By Tensile Strength: Regular Duty, High Tensile
3) By Application: Metal, Paper, Glass, Building, Other Applications

Subsegments:
1) By Blue-Tempered Steel Strapping: Cold Rolled Blue-Tempered Steel Strapping, Hot Rolled Blue-Tempered Steel Strapping
2) By Paint-Coated Steel Strapping: Polyester Coated Steel Strapping, Polypropylene Coated Steel Strapping
3) By Galvanized Steel Strapping: Electro-Galvanized Steel Strapping, Hot-Dip Galvanized Steel Strapping
4) By Other Types: Zinc-Plated Steel Strapping, Stainless Steel Strapping

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Which Top Companies are Driving Growth in the Steel Strapping Market?
Major companies operating in the steel strapping market are ArcelorMittal S.A., Shandong Baosteel Industry Co. Ltd., Berry Global Inc., Fastenal Company, Samuel, Son & Co. Inc., Nisshinbo Holdings Inc., Signode, Yodogawa Steel Works Ltd., M.J.Maillis Group, Bhushan Power & Steel, Shanghai Metal Corporation, Fromm Holding, Empire Group, Walzen Strips Pvt. Ltd., Pacific Strapping Inc., American Strapping Company, Specta, Kohan Kogyo Co. Ltd., Acme Steel Co., AnShan FaLan Co. Ltd., Tianjin Hongmei Steel Strips Co. Ltd., Midfield Industries Ltd., Polychem Ltd., Ensho Steel Strapping Co Ltd., Linder Strapping

Which Regions Will Dominate the Steel Strapping Market Through 2029?
Asia-Pacific was the largest region in the steel strapping market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the steel strapping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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