Polyester straps Market - Present Scenario and Growth Prospects 2017-2027
Polyester straps are packaging solutions used for wrapping products such as iron and steel bars, rilling sheets or coils, wooden crates, pipes, cables, etc. The manufacturers of these products look for wrapping solutions that can be safe for both the products being wrapped and the user during wrapping and unwrapping. Earlier steel straps were used to wrap these products but the steel tended to corrode resulting in reacting with the materials and thus compromising the quality of the products. The steel also damaged the cargo by its sharp edges during transportation and shipping.
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This resulted in the manufacturing of alternative wrapping product made of safer materials without compromising the strength of the steel. Polyester straps are made of polypropylene and polyethylene terephthalate. The straps made from these materials intended to meet the demand of the consumer. These straps are light in weight compared to the steel straps thus adding ease during transportation. The straps made from polyesters are impervious to rust and therefore can be used multiple times. These added features of polyester straps seem to drive the global market of polyester straps between 2017 and 2027.
Polyester straps market – Dynamics
The demand for iron rods, metal sheets, timbers, film rolls, textiles, cables, etc. are met by transporting the products across distances over the globe. The products therefore need to be stacked orderly and safely in order to minimize the damage during the transportation. Polyester straps offers safe wrapping of these products compared to steel straps thereby creating opportunities for the global polyester straps market. Some of the factors that tend to drive the global market of polyester straps include relatively less cost compared to steel straps, light in weight, heat sealable by manual or automatic strapping tools, elongates to withstand shock, impervious to rust, safe to use, etc. Owing to these properties of the polyester, the manufacturers of the straps are keenly involved in producing polyester straps from polypropylene and polyethylene terephthalate. Attributed by these properties the demand for polyester straps is anticipated to grow over the forecast period. However, the penetration of the polyester market is challenged by the existing strategy of wrapping the products with the remnant.
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Polyester straps market – Segmentation
The Polyester straps market is segmented as follows:
On the basis of material type, Polyester straps market is segmented into:
Polyethylene terephthalate (PET)
On the basis of application, Polyester straps market is segmented into
Building Material & Wood
Iron & Steel
Glass & Ceramics
Polyester straps market – Region wise outlook
The global polyester straps market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Asia Pacific has emerged as a leading producer of iron and steel and allied products over the past few decades. Polyester strap which is an efficient wrapping solution for this product is therefore anticipated to witness a hike in terms of demand in this region leading to the growth of the market for polyester bags throughout the forecast period. Europe is one of the leading manufacturer of glass and ceramics products and therefore is expected to follow Asia Pacific in terms of demand for the polyester straps which is required to wrap the products during shipping and transportation over the forecast period. North America is expected to witness relatively slower growth in terms of demand for polyester straps owing to its prevailing established economy. However, Latin America and Middle East & Africa is anticipated to witness a sluggish growth in the market of polyester straps due to its stagnant economy.
Polyester straps market – Key Players
The key players in the polyester straps market include Signor Polymers Pvt. Ltd, North Shore Strapping Inc., S & K Packaging Industries, Ruparel Polystrap Pvt. Ltd., Auto Strap India, Consent, LLC., Plastic Extruders Ltd., Linder GmbH, Narrowtex Pty(Ltd).
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