Market Research Future (MRFR) has published a cooked research report on the “global Polyester Strap For Manual Grade Market” that contains the information from 2022 to 2030.
Global Polyester Strap For Manual Grade Market
PET strapping is made of polyester and can easily compete with steel in terms of strength. It withstands very high breaking loads and is extremely tear-resistant. Unlike steel strapping, it is easier to work with and does not rust, which means that it defies all weather conditions and leaves no marks on your goods. During the strapping process, straps are placed around the goods and tightened with the help of a strapping tool or strapping machine.
Polyester Strap For Manual Grade Market Size was valued at USD 0.64 billion in 2021. The Polyester Strap for Manual Grade market industry is projected to grow from USD 0.69 Billion in 2022 to USD 1.29 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.15% during the forecast period (2022 - 2030).
In the coming years, Rising usage of polyester straps for seatbelts is projected to drive the polyester straps market share in the automotive industry during the forecast period. Furthermore, polyester straps have replaced nylon webbing as safety equipment in racing cars due to its increased strength, and a lower rate of elongation under load. In addition to product safety, to overcome government regulations regarding safety, manufacturers are focusing on product innovation. The usage of seat belts is rising due to increasing safety concerns. This is likely to act as an opportunity for the polyester straps market over the forecast period. E.g., the European New Car Assessment Program (Euro NCAP) has resulted in the installation of seat belts and other safety straps in automobiles. The aforementioned rules are expected to fuel the demand for polyester straps over the next decade.
The global market has been significantly impacted by the COVID-19 pandemic. as it is causing widespread concern and economic deprivation of industries and individuals all over the globe. The outbreak of the novel coronavirus has impacted most of the packaging, automotive and many other end user industries worldwide, including the polyester strap for manual grade industry. During the pandemic, many industries were affected due to supply chain disruption and lockdown. This led to the shortage of raw materials used in a manufacturing PET. Also, many end-user industries shut down due to pandemics. That restricted the growth of the market. However, in 2022, the situation is coming on track, and now the market is stable and growing steadily. As packaging industries are the most prominent end-use sectors, the pandemic cut down demand from these applications, and that affected polyester strap for manual grade demand in an extremely negative manner.
The global market is fragmented, and a few number of producers control the majority of the share. Major businesses are putting their focus of the players is to provide advanced products to aid in increasing adoption, which could help strengthen a country's growth with advanced products. Although players dominate the market, a few local players with a limited market share also have a prominent presence in this market.Key players include Signode Industrial Group Llc, Mosca Gmbh, Linder Gmbh, Mega Fortris (Uk) Limited, Narrowtex Pty, Caristrap International Inc, Maxpack, Atmet, Co-Strap Verpackungslösungen Gmbh, Sandax Gmbh.
- Composite Strapping: Composite Strapping is co-extruded Polyester Strapping. Polyester Composite Strapping is manufactured from high tenacity polyester yarns embedded in a polymer coating. During transportation, the Polyester Composite Strapping Belt can absorb shocks and impacts. It has a high retained tension and is a robust and safe alternative to steel strapping. Composite strapping is commonly used for goods that may expand, settle, or contract during transportation. Specially made for usage on rough environmental materials and sharp edges, the Polyester Composite Strap is optimised to secure the cargo. Composite polyester belts are frequently connected with a wire buckle, and the buckle closes when tension is applied to the strap. They require just a hand tensioning tool and light cutters, making them quicker and more convenient than steel belts. Using Polyester Composite Strapping leads to reduced environmental impact. Polyester is produced from raw resin materials throughout the manufacturing process. Polyester composite strapping helps environmentally conscious firms save a significant amount of net energy. The lightweight material of the polyester composite strap also helps to reduce overall load weights. Moving these products from one point to another saves space, time, and fuel. Polyester strapping is a recyclable material that may help you save money on packaging waste and disposal. These cost-cutting measures boost corporate profitability while also lowering environmental impact. This recycled material may subsequently produce post-consumer items, such as new straps, several times.
- Woven Strapping: Woven polyester strapping provides a high level of product strength and durability. Cross woven strands of polyester yarn are coated with cold glue to improve this strap’s rigidity and system strength. Woven strapping offers higher resistance to chafing and shearing where a small cut at the edge of the strap spreads across its width under tension so are suited to use with rough-edged consignments. It is typically used to secure medium to heavy items, providing good reliability to the product. Woven Polyester strapping is excellent at retaining any applied tension over a long period of time and is less susceptible to tension relaxation which can be caused by different variables such as ambient temperature. It also does not lose as much tension as steel strapping systems on loads that become compressed or contract. Woven polyester is a cost-effective and safer alternative to steel strapping, offering bi-directional strength and split-resistance for harsher environments and suitable for securing heavy loads. Woven Strapping is manufactured from high tenacity polyester yarns in a woven structure. Woven polyester strap is designed to replace and, in many ways, out-perform steel banding. It is both strong and gentle. It has a little elongation (stretch) combined with memory which then allows it to act like a big industrial rubber band during heavy impact. Woven strapping is stronger than any other type of strapping because it has more filaments woven together to increase strength. It also adds a hardener to the belt to make it hard enough for any industrial purpose. Woven Lashing is used for heavy loads to secure tied-up cargo and ensure that the goods will not be damaged during transportation.
- Below 0.5 mm:5 mm segment is expected to register the highest CAGR of 8.41% during the forecast period.
- 5 mm-0.75 mm: The 0.5 mm-0.75 mm segment Manufacturers in the industry are also offering customized options for PET straps which includes PET straps for Food & Beverages, Electronics & Electrical, Automotive, Paper & Allied Industries, Textile & Apparel and other applications. PET straps with thickness of 0.51 mm - 0.75 mm are more used than other straps. To handle medium to heavy loads in the industrial sectors, various straps are used for packaging.
- 76 mm-1 mm: The 0.76 mm-1 mm segment was the second-largest market and valued at USD 1,81,098.07 thousand in 2021; it is projected to exhibit a CAGR of 8.26%. However, the below 0.5 mm segment is expected to register the highest CAGR of 8.41% during the forecast period.
- Above 1 mm: Above 1mm the market share is 15%.
By Breaking Strength
- Up to 220 Kg: . 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.
- 221 to 300 Kg: The 221 to 300 kg segment was the second-largest market and valued at USD 1,99,629.51 thousand in 2021; it is projected to exhibit a CAGR of 7.95%.
- 301 to 500 Kg: The 301 to 500 kg segment accounted for the largest market share of 33.44%, with a market value of USD 2,12,395.08 thousand in 2021; it is expected to register a CAGR of 8.25%. 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. PET straps with breaking strength of 301 to 500 Kg are more used than other straps.
- Above 500 Kg: the above 500 kg segment is expected to register the highest CAGR of 8.50% during the forecast period. It stays tight even after that load is compressed during storage, handling and shipping. It is highly suited for rigid loads that require strapping tension throughout handling, shipping and storage. It is the best alternative for applications that require high tensile strength, high retained tension and elongation.
- 5 mm to 15 mm: The 5 mm to 15 mm segment accounted for the largest market share of 63.45%, with a market value of USD 4,03,015.62 thousand in 2021; it is expected to register a CAGR of 8.12%.Due to high strength along with excellent prolongation properties offered by polyester straps even with minimum width makes it a preferred choice for end-user industries as well as logistical partners. Out of total polyester straps sold across the globe in 2021, almost 1/3rd of them have a width between 5mm to 15mm.
- 16 mm to 20 mm: The 16 mm to 20 mm segment was the second-largest market and valued at USD 1,37,281.08 thousand in 2021; it is projected to exhibit the highest CAGR of 8.37% during the forecast period.
- Above 20 mm: Above 20mm, the market share is 14.9%.
- Food & Beverage: The food & beverage industry is one of the key application areas for PET strapping for manual grade. The material is used to secure cartons, crates, and sacks that contain food items and beverages. It helps in preventing damage to the contents during transit and handling. In addition, it also improves the aesthetics of the packaged products. This growth can be attributed to the increasing demand for packaged foods and beverages across the globe. Moreover, stringent regulations about food safety are also fueling the demand for PET strapping for manual grade in this sector.
- Pharmaceuticals: PET straps are primarily used in transportation these materials from one place to another. They prevent these materials from getting damaged. These are used in packaging pharmaceutical products and medical devices. The light weight of pharmaceutical products makes PET strap a great, cost-effective solution for strapping, bundling, carton closing, and package reinforcement. It is the most easily recyclable of strapping products, and it is strong enough for most applications.
- Electronics & Electrical: Consumer electronics segment is the largest sector of the market studied, due to the rising demand for products, such as TVs, set-top boxes, MP3 players, digital cameras, and the processes are generally more suited for mass production. Mechanical damage, cooling, radio frequency noise emission, and electrostatic discharge are all protected by this. To guard against electrostatic discharge, water, harsh weather conditions, corrosion, and dust, efficient electrical and semiconductor packaging is utilized throughout the manufacturing of consumer electronic goods. Sales through an e-commerce platform has increased demand for PET Straps for manual grade market.
- Automotive: Rising demand for eco-friendly automotive fabric materials and rising adoption of automotive fabrics that are High rigidity and hardness. Very low moisture absorption. Good creep resistance. Low sliding friction and sliding wear, and Ultraviolet (UV) rays are factors expected to drive market revenue growth during the forecast period. Rising usage of polyester straps for seatbelts is projected to drive the polyester straps for manual grade market share in the automotive industry during the forecast period. Furthermore, polyester straps have replaced nylon webbing as safety equipment in racing cars due to its increased strength, and a lower rate of elongation under load.
- Construction & Allied Industries: Pet Strapping is designed for medium to heavy-duty palletizing and unitizing applications and can be applied by hand tools. Polyester (PET) strapping for manual grade have been used in various industries like aluminium ingot, glass, ceramic, ply wood, construction material like stone, marble and brick, Paper, Cotton baling, Fibre baling, Clothes bailing, Steel plate, Steel pipe etc.
- Paper & Allied Industries: Paper mills are very particular about the type of strapping material that is used in the process of bundling and stacking finished paper products. PET strapping for manual grade is an excellent choice for this industry because it is high-strength, non-corrosive, and has a low coefficient of friction. This makes it easy to strap bundles of paper products together without damaging them, and also allows them to slide smoothly across conveyor belts during transport. This trend is expected to continue over the next decade, as the demand for environmentally friendly packaging solutions grows.
- Textiles & Apparel: The textile industry is one of the major consumers of PET strapping for manual grade. The use of PET strapping helps in reducing the chances of product damage and in ensuring safe delivery of the products to the end-user. Moreover, it also increases the efficiency of the production process. Reduces product damage: The high tensile strength and stiffness of PET strapping for manual grade help in preventing products from getting damaged during transit. This leads to increased safety and fewer losses for the business.
- Chemicals & Fertilizers: In the chemical industry, the packaging is a crucial component for chemical handling and safety. Without proper packaging of chemicals (bulk liquid), the risk of incidents and real danger to people's safety and material protection becomes high, including product and asset damages and fatalities in the cases of fire explosions. This drives the end user application for PET strap for manual grade market.
- Others: The use of PET strapping for manual grade in the wood industry is on the rise due to its high tensile strength and resistance to moisture. It helps in securing bundles of wood boards and planks during transportation, handling, and storage. The smooth surface of PET strapping does not cause any damage to the wood surfaces, which is a major advantage over other types of strapping materials. Moreover, it is easy to use and does not require any specific training for operation.
- North America: The North America plastic strap market is expected to reach US$ 3,34,503.68 Thousand in 2030 from US$ 1,83,507.59 Million in 2022. The market is anticipated to grow at a CAGR of 7.79 % from 2022 to 2027. Factors driving the market growth include rising preference for lightweight and low-cost strapping types and growing demand in key markets such as US and Canada. However, environmental pollution and waste management is likely to have a negative impact on the market growth. The market is majorly driven by growing product demand from various application segments such as food and beverage and industrial packaging. Factors such as rising awareness and the importance of sustainable and environment-friendly packaging are also anticipated to boost market growth over the forecast period. PET straps produced by melting recycled PET materials, granules, pellets, or flake offer high strength and stretchability to the straps. In case of COVID-19, North America is highly affected specially the US which got the highest number of confirmed cases of COVID-19, as, compared to Mexico and Canada. This is likely to impact the chemical and materials industry in the region as, due to the COVID-19, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth. The North American chemical and materials industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. because of this outbreak. In addition to this, the global travel bans imposed by countries across North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the packaging industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
- Europe: In Europe, European continent comprises of several developing economies such as Germany, France, the UK, Spain, and the rest of Europe. The packaging industry contributes a significant share to the GDP of the region. This industry is supporting the growth of the economy by assisting with various materials to be used in multiple applications that result in the creation of a diversified array of business opportunities and services. The packaging industry of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP as well as employs millions of people in the region. Increasing demand for high-strength packaging products in different end-use industries, including agrochemical, chemical, consumer goods, food packaging, and other industries, is influencing the market growth for plastic straps in Europe. The demand for various packaging materials and products has increased within the European region, particularly in Germany, France, and the UK.
- Asia-Pacific: The Asia Pacific is the largest consumer and producer of polyester strap for manual grade owing to the presence of rapidly growing economies in the region such as China and India. Factors, such as the rising population, are likely to be the major drivers for the market in this region. Rising demand from end user industry in developing countries such as India, Indonesia, and Thailand are projected to boost the market. Asia pacific dominates the global PET strap for manual grade market owing to rapid expansion of the automobile industry in the region. PET straps for manual grade are also used on a large scale in the logistics sector in Asia pacific. China and India are among the largest packaging markets in the world. Developing countries in Asia are also expected to witness tremendous growth in the e-commerce business due to which Asia-pacific is also likely to be the fastest-growing market for plastic straps during the forecast period. China is heavily contributing to this market since it is known as the manufacturer’s hub. The Chinese economy is flooded with manufacturing as well as assembly units of some of the major manufacturers of PET straps and packaging industries.
- Middle East & Africa: The Middle East & Africa automotive Polyester Strap For Manual Grade market size is anticipated to expand at a significant CAGR during the forecast period, 2022-2030. The growth of the market is attributed to increasing demand for durable and lightweight materials for automotive production. The rising retail and e-commerce industries and the growing need for environmentally friendly packaging materials are currently driving the market's expansion.
- South America: The South America has a factors driving the market growth include the rising preference for lightweight and low-cost strapping materials and growing demand in Key Markets such as Brazil and Argentina. However, the environmental pollution and waste management is likely to have a negative impact on the market growth. The collective demand from end-use industries owing to hasty globalization and industrialization is driving the market growth. Additionally, the rising packaging industry and intensifying demand for strapping material across consumer electronics, household appliances, pharmaceutical products, medical devices, and textile goods are further fuelling the market growth. Latin America, especially Brazil, is projected to be a significant user of PET straps in the next few years.