Polyester Straps Market Size, Competitive Landscape and Market Forecast - 2029

Global Polyester Straps Market is segmented By Type (Polyethylene Terephthalate (PET) Straps, Polypropylene (PP) Straps, Nylon Straps, Paper Straps, Composite Straps, Woven Straps Others), By Packaging Grade (Hand Grade, Machine Grade), By Surface (Smooth, Embossed), By Thickness (Less Than 0.50 mm, 50 mm - 0.75 mm, 75 mm - 1.00 mm, Above 1.00 mm), By Application (Cardboard Boxes, Pallets & Crates, Wood & Piping, Expedition Department Warehouses,Lighter Truckloads, Cotton, Bricks & Tiles, Others) By End-User (Automotive, Food & Beverage, Pharmaceuticals, Electrical & Electronics, Construction, Textiles, Chemical & Fertilizers, Others), By Region (North America, Europe, South America, Asia-Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The "Global Polyester Straps Market" is predicted to reach a high CAGR during the forecast period (2022-2029)

Storage and transport can affect goods in various ways. Vibrations, temperature differences, and sunlight may hit pallet strapping material and cause packaging to become unstable. In order to cope with such challenges, the manufacturer has developed a vast portfolio of different polyester straps. The manufacturing company offers all standard PET straps in widths from 9 to 32 mm. Moreover, a polyester strap is ideal for securing medium to heavyweight loads. Polyester strap is made from hundreds of polyester threads woven together. For that reason, it is also called textile binding. By weaving it together, solid material is created, which is also very flexible and exceptionally resistant to tearing or stretching. In addition, the polyester strap has a tremendous shock­ absorbing capacity without losing its elasticity, and it is a wrapping packaging solution that is utilized for securing the transport of materials, including cables, pipes, wooden crates, iron bars, riling sheets, coils and steel bars.

Furthermore, polyester straps provide durable, safe and sustainable packaging solutions. Unlike steel wraps, polyester straps do not cause unnecessary product wastage due to rust and damage. In addition, heavy-duty polyester strapping has a more significant tensile strength than steel and has adequate thermal tolerance. It also has a minor amount of tension decay over PP, which indicates it holds the tension for a more extended period. This is significant to keep in mind for cross-country draws from one destination to another or multiple halts along the path to the load's final destination. There is also a polyester corded strapping, which is tied by hand with a wire buckle. It is a cloth material glued collectively, so there is no stretch possible, but it is very flexible.

Source: DataM Intelligence Analysis (2021)

Market Dynamics

The increasing inclination of consumers towards water treatment, agrochemical & pharmaceuticals due to stringent regulation is triggering the demand for Polyester Straps in recent times. Growing demand for water-soluble fertilizers creates a strong opportunity for the Polyester Straps market growth.

Growing demand for cable, textile, film rolls, metal sheets and timer is expected to increase the market size

The growing demand for cables, textiles, film rolls, metal sheets and timbers will prompt the expansion of the polyester straps industry during the forecast period. In addition, the product is also utilized in palletization and building materials, including carton wrappings and bottles. It also finds lucrative applications in the wrapping of plywood, roofing tiles, plaster bonds, and timber.

According to industry analysis, China produced 65.18 million metric tons of paperboard and packaging paper in 2019, making it the top producer globally. Packaging paperboard and paper production in China has grown dramatically in recent decades. The second-largest producer was the U.S, which produced 47.89 million metric tons value. Both these countries originated considerably more of these paper goods than any other country, with the third-largest producer - Japan - producing 12.18 million metric tons, which indirectly increase the market's growth.

Growing demand of polyester straps from paper and printing industry is expected to boost the market growth

Growing demand for polyester straps from the paper and printing industry is critical for driving polyester straps' market growth. Polyester straps are utilized in several end-user industries as they have several properties, including corrosion resistance, and are light in weight. A broad range of printing products and paper-like coated paper, writing & printing paper, specialty paper and tissue papers are bundled & packaged using polyester straps. The application of polyester straps will focus on hygiene and demand for toilet paper, facial wipes and paper towels. Additionally, with the requirement to ensure the safe transportation and storage of food items, these straps are also utilized in the foodservice industry.

Growing demand of polyester straps from e-commerce industry is expected to drive the market growth

The ease of online shopping commencing to the growth of the e-commerce industry will also boost polyester straps' market growth. E-commerce has optimized the distribution channels, raised the accuracy and efficiency of conducting businesses, and changed purchases made in various sectors, including the electronics industries and textile. To transport products, online retailers use crumpled boxes to ensure the safety of products. This results in a grown demand for polyester straps in e-commerce logistics as they are utilized to bind corrugate boxes to reduce the risks of spillage. The demand from the paper and printing industries, coupled with the growth of the e-commerce sector, will drive polyester straps market growth at a significant CAGR during the forecast period. Also, the eCommerce market revenue is expected to reach US$ 2,723,990 million in 2021 and is expected to grow at a CAGR of 6.28% during the forecast period.

Growing demand for traditional and existing approaches is expected to hinder the market growth

Rising usages of traditional and existing approaches are expected to hinder the growth of the polyester strap market during the forecast period.

Segment Analysis

By end-user, the market is segmented into food & beverage, pharmaceuticals, electrical and electronics, automotive, construction, textiles, chemical & fertilizers and others.

Polyester straps are used in several industries such as ceramics, glass, textile, paper, steel and iron, leather etc. They are also utilized in building material and palletization, which includes bottles and cartons wrapping. In addition, they find use in wrapping roofing tiles, timber, plaster bonds, plywood etc. They also find applications in the food and beverage industry, including their uses in the breweries, mineral water, soft drinks, dairy, juices, meat and poultry products, and other beverage distribution centers. Moreover, polyester straps are widely used in building and packaging many papers and printing products such as tissue papers, coated papers, writing and printing paper and specialty papers. This is mainly because polyester straps are resistant to corrosion and are lightweight, ensuring safe transportation and storage. The consumption of tissue paper is growing owing to the increasing focus on hygiene. Further, the demand for writing papers and printing utilized for magazines, newspapers, books, stationery and catalog printing rises considerably. Such an increase in the paper and printing industry will drive the demand for polyester straps during the forecast period.

Furthermore, strapping solutions made from polypropylene are a cost-effective solution that is suitable for moderate duty bundling, unitizing and palletizing. Some areas where polypropylene strapping is preferred include magazines, bundling and packing newspapers, food products such as appliances, corrugated boxes, meat, cartons and cut paper. Polypropylene strapping is favored in such areas of application as it has a more excellent elongation at break. Hence, this solution is favored in low and medium heavy-duty work.

Source: DataM Intelligence Analysis (2021)

Geographical Analysis

Based on the geography, the polyester straps market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for polyester straps in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.

North America is witnessing a significant market growth during the forecast period

The demand for polyester straps is growing in the North American region, specifically in the automobile industry. The automobile industry needs materials that are durable and possess enough strength, and are lightweight. The automotive industry in the U.S. experienced a sharp drop in demand amid the outbreak of COVID-19: in March 2020, U.S. vehicle sales were down 38% year-on-year. When stay-at-home orders were released, light vehicle sales bounced back to reach some 14.49 million units. Light vehicles accounted for about 97% of motor vehicles that were sold in the U.S in 2020. On similar lines, polyester straps are cost-effective compared to other strapping solutions, especially steel strapping. The consumers drive the market for polyester straps because it possesses high tensile strength, low cost, lightweight, etc. Due to such favorable properties of polyester straps, they are preferred by manufacturers over other strapping solutions in this region.

APAC and Europe are expected to contribute significant share to market due growing demand for polyester straps from the paper and printing industry is critical for driving polyester straps' market growth. Polyester straps are utilized in several end-user industries as they have several properties, including corrosion resistance, and are light in weight.

Source: DataM Intelligence Analysis (2021)

Competitive Landscape

The polyester straps market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. TEUFELBERGER, De Webmakers Webdesign Bureau, Linder GmbH, Greenbridge, FROMM Packaging, North Shore Strapping Inc., Auto Strap, S&K Packaging Inc., Samuel Strapping, Dubose Strapping are the major player in the strapes market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the polyester straps market globally.

TEUFELBERGER

Overview:  TEUFELBERGER is a diversified, global organization successfully specializing in steel wire ropes, fiber ropes and strapping. Discovery, steady growth and geographic development are strongly defined goals in the organization's strategy.  The company headquarters is in Wels, Austria generates revenue of approx. € 257 million from 12 locations with an export share of more than 90%.

Product Portfolio: 

• TYCOON Green Performance: With TYCOON Green Performance, the company contribute to protecting the environment and benefit from lower costs. Compared to traditional polyester strapping, TYCOON Green Performance achieves a CO2 reduction of 4.5 kg per coil. For the consumer, this means fewer wastes and thus lower disposal costs. Moreover, TYCOON Green Performance offers various significant advantages such as:
  • Easy Handling:
    • comfortable coil changing procedure thanks to 1-2 Strap technology
    • lower coil weight
  • Eco-Friendliness
    • greater transport efficiency (less CO2) thanks to more meters per pallet and coil
    • made of recycled raw material and 100% recyclable
    • less waste per meter of strapping
  • Cost-Efficient
    • lower disposal costs due to lower amount of waste
    • optimized utilization of cargo and storage space thanks to the optimized length of strapping per coil
• TYCOON High Tension: TYCOON High Tension is suited for applications that need high strap tension and where there exists an elevated risk of shock splitting (e.g., wood and timber industry). Moreover, it is suited for sharp-edged products encountered in the metal or building supplies industries. Consequently, it guarantees trouble-free manufacturing processes on fully automatic strapping machines. In addition, TYCOON HighTension offers significant advantages such as:
  • troublefree strapping for challenging applications
  • compact product packaging through high strap tension
  • reliable strapping of pallets at constantly high remaining strap tension

Why Purchase the Report?

• Visualize the composition of the polyester straps market segmentation by type, packaging grade, surface, thickness, application, end-user and region highlighting the key commercial assets and players.
• Identify commercial opportunities in the polyester straps market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of polyester straps market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global polyester straps market report would provide an access to an approx. 87 market data table, 95 figures and 180 pages.

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