Rapid Advancements will boost Polyester Straps Market Size Further
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 strapsmarket is segmented as follows:
On the basis of material type, Polyester strapsmarket is segmented into:
Polyethylene terephthalate (PET)
On the basis of application, Polyester strapsmarket is segmented into
Building Material & Wood
Iron & Steel
Glass & Ceramics
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Polyester straps market – Region wise outlook
The global polyester straps marketis 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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