NEWARK, Del, Sept. 12, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI), the strapping supplies market is expected to witness growth at a CAGR of 5.3% during the forecast period 2022-2032. Growth in the market is primarily attributed to growing demand for sterile and safe packaging in industries such as warehousing, electronics, food & beverage, and others.
The strap is applied either manually with a hand tool or with a strapping machine to ensure the safety of the product. A dispenser is used with both types of equipment to dispense the strap. There are manual and automatic hand tools. Manual packaging tensioners are used for low volumes and automatic tensioners are used for higher volume applications.
Strapping machines are used for special applications or high-volume applications. They are available in automatic and semi-automatic varieties. Strapping machines significantly improve warehouse efficiency as well as the overall presentation of a packaged product.
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Strapping bands are used to secure bundles and boxes during packaging, storing and shipping products. They are applied using hand tools or strapping machines to seal the product tightly and prevent it from falling. Over the projected period, the use of straps in various industries is predicted to fuel market growth.
Key Takeaways from Strapping Supplies Market
"The development of automated strapping machines, low cost-availability of strapping materials and their essential use in a wide variety of applications such as food & beverage, electronics and logistics is expected to drive the market. Hence, key players are leveraging their cost-effective and light-weight strapping machines to increase their revenue."- says FMI analyst
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Rapid Infrastructural and Industrial Development to Drive Strapping Supplies Market
The construction industry is witnessing a rapid rise, as per FMI. According to Global Construction Perspectives and Oxford Economics global construction market is expected to grow by 85% to US$ 15.5 Tn by 2030 with three countries namely, the U.S., India and China accounting for 57% of all global growth.
With expanding industrialization and commercialization in emerging parts of the world, the logistics and transportation requirements to support the shipping of goods have increased dramatically. Thus, the rising need for strapping materials in order to facilitate the movement of raw materials and goods to the construction sites is expected to fuel the growth of the strapping supplies market.
Campanini UGO S.P.A, Teufelberger Holding AG, Narrowtex Pty (Ltd.), Consent LLC, National Webbing Products, DONGGUAN YALAN PACKING MATERIALS CO., LTD, Yu Chi Machinery Co. Ltd. (UGPACK), DAE YANG STRAPS CO., LTD, Universal Strapping Inc., REISOPACK S.L., Plastic Extruders Ltd., Northshore Strapping Company, The plastic strapping company Ltd, Linder GMBH, BONZOBAND Strapping Systems Ltd., MOSCA GMBH, Tosa Group, Samuel strapping systems Group, FROMM Packaging Systems Inc. and Dynaric, Inc.
Future market insights, in its new report, offers an unbiased analysis of the global market for strapping supplies market by product (strapping bands and seals, strapping brackets and buckles, edge protectors, strapping machines, strapping tools and carts and others (cables, twist ties, etc.), by end use (food & beverage, logistics & warehousing, healthcare & pharmaceutical, electronics and electrical, personal care & cosmetic and others (chemical, automotive)) and across seven regions.
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3.1.2. Global Food & Beverage Industry Outlook
3.1.3. Global Plastic Industry Growth Outlook
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations.
With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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