Polyester Strap For Manual Grade Market Analysis

Global Polyester Strap For Manual Grade Market Overview

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). The demand for Polyester Strap for Manual Grade is growing due to Growing Demand of Polyester Straps from E-Commerce Industry.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polyester Strap for Manual Grade Market Trends

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  INCREASING DEMAND FOR ENVIRONMENT-FRIENDLY STRAPPING SOLUTION AND DURABILITY

  
  

Demand for metal sheets, iron rods, film rolls, timbers, cables, and textiles has been increasing at a rapid pace. PET straps are primarily used in transportation these materials from one place to another. They prevent these materials from getting damaged. PET straps are light in weight and cost effective vis-à-vis steel straps. There are factors driving the PET strap market. PET straps are primarily made from recycled PET. Thus, they provide environment-friendly strapping solution. Polyester strapping can generate savings of up to 20% to 30% compared to steel strapping. This is all the truer in light of the latest U.S. tariffs on steel that have contributed to driving up its price dramatically. Use of polyester strapping also helps to reduce inventory losses since it is non-corrosive and doesn’t stain products. Polyester also eliminates the need to use metal clips for certain applications, helping to generate additional savings. Polyester strapping offers industrial resistance with many of the properties of steel. It also has better memory retention characteristics, meaning that it can provide approximately 2% elongation and then recover to keep the strapping tight around the package for stronger holding force. The straps consequently absorb more impact during transport. Polyester is also more durable than steel in that it is UV and rust-resistant. The demand for eco-friendly and biodegradable solutions has made its way to the PET straps for manual grade. The increase in sales for end-use industries is expected to spontaneously affect the need for PET straps during the future years. This change is affected due to extensive PET straps for bundling, heavy-duty bailing, load unitizing. The positive outlook of e-commerce will lead to more home deliveries which will rise the usage of PET straps for manual grade and this will drive the market

However, to cater the demand is increased due to Rising usage of polyester straps for seatbelts is projected to drive the polyester straps market share in the automotive industry during the forecast period. This factor has ultimately enhanced driving the growth of the Polyester Strap For Manual Grade market revenue.

Polyester Strap for Manual Grade Market Segment Insights

Polyester Strap for Manual Grade Type Insights

The Polyester Strap For Manual Grade Market segmentation, based on Type, includes Composite Strapping, Woven Strapping. The Woven Strapping type segment held the majority share in 2021 contribution to around ~61% in respect to the Polyester Strap For Manual Grade Market revenue. 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.

April 2022 Austria-based packaging company, Teufelberger announced the acquisition of Poland-based packaging company, Maillis Plastics Solutions for expanding the business process and for increasing a larger customer base accordingly. This acquisition further aims at expanding the plastics processing division and secures high performance of strapping capabilities.

Polyester Strap for Manual Grade Thickness Insights

The Polyester Strap For Manual Grade Market segmentation, based on thickness, includes Below 0.5 mm, 0.5 mm-0.75 mm, 0.76 mm-1 mm, Above 1 mm. The 0.5 mm-0.75 mm thickness segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to 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. Hence, rising power of 0.5 mm-0.75 mm implants for Polyester Strap for Manual Grade positively impacts the market growth.  

Polyester Strap for Manual Grade Width Insights

The Polyester Strap For Manual Grade Market segmentation, based on Width, includes 5 mm to 15 mm, 16 mm to 20 mm, Above 20 mm. The 5 mm to 15 mm width segment held the majority share in 2021 contribution to around ~64% in respect to the Polyester Strap For Manual Grade Market revenue. Moreover, 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.

Polyester Strap for Manual Grade Breaking Strength Insights

The Polyester Strap For Manual Grade Market segmentation, based on Breaking Strength, includes Up to 220 Kg, 221 to 300 Kg, 301 to 500 Kg, Above 500 Kg. The 301 to 500 Kg Breaking Strength segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to 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. PET straps with breaking strength of 301 to 500 Kg are more used than other straps. Hence, rising power of 301 to 500 Kg implants for Polyester Strap for Manual Grade positively impacts the market growth.

Polyester Strap for Manual Grade End-use Industry Insights

The Polyester Strap For Manual Grade Market segmentation, based on End-use Industry, includes Food & Beverage, Pharmaceuticals, Electronics & Electrical, Automotive, Construction & Allied Industries, Paper & Allied Industries, Textiles & Apparel, Chemicals & Fertilizers, Others. The Paper & Allied Industries end-use Industry segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to 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. Hence, rising end-use Industry of Paper & Allied Industries implants for Polyester Strap For Manual Grade positively impacts the market growth.     

July 2020 Mega Fortris (Uk) Limited latest product the new portable Mega Fortris Dunnage Bag Inflation device. This cordless tool allows the dunnage bags to be inflated without the use of compressors and compressed air lines. that growth opportunity for the Polyester Strap for Manual Grade industry.

Figure 2: Polyester Strap For Manual Grade Market, by End-use Industry, 2021 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Additionally, in comparison to Textile & 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.

Polyester Strap for Manual Grade Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific Polyester Strap for Manual Grade market is expected to exhibit an 6.25% CAGR during the study period. 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.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Argentina, and Brazil.

Figure 3: POLYESTER STRAP FOR MANUAL GRADE MARKET SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America Polyester Strap for Manual Grade market accounts for the second-largest market share due to 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. Further, the US Polyester Strap for Manual Grade market dominated the regional Polyester Strap for Manual Grade market, and the Canada Polyester Strap For Manual Grade market 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.

The Europe Polyester Strap for Manual Grade Market is expected to grow at a market share of 25% from 2022 to 2030, due to 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. Moreover, Germany Polyester Strap for Manual Grade market held the largest market share, and the Spain Polyester Strap for Manual Grade market was the fastest growing market in the Europe region.

For instance, Germany Polyester Strap for Manual Grade market is a major contributor in the regional Polyester Strap for Manual Grade market, 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. Hence, Europe is anticipated to register the highest growth rate over the forecast period from 2022–2030.  

Polyester Strap for Manual Grade Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Polyester Strap for Manual Grade market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Polyester Strap for Manual Grade industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global Polyester Strap for Manual Grade industry to benefit clients and expand the Polyester Strap For Manual Grade market sector is to manufacture locally to reduce operating costs. In recent years, Polyester Strap for Manual Grade has provided medicine with some of the most significant benefits.

Signode Industrial Group manufactures steel and plastic strapping, stretch film and the application equipment and accessory products. The firm's products are used throughout the world in a broad range of industries to secure everything from cotton bales and newspapers to steel coils and corrugated cartons. Signode brings this extensive product portfolio together under hundreds of trusted brands to offer complete transit packaging solutions to its customers. It produces strap, stretch and protective packaging. It also manufactures packaging tools and equipment used to apply the bulk packaging materials. In December 2022, Signode, the leading global manufacturer of a broad spectrum of automated packaging equipment, tools, and consumables, has launched its new BST Battery Powered Tool for Sealless Steel Strapping. Featuring an ergonomic design and multiple productivity-enhancing features, this new tool delivers unparalleled performance in demanding applications.

Also, The Mega Fortris Group of Companies is a leading manufacturer and specialized designer of security seals, tamper-evident products and complete solutions for securing goods in transit. The company design, innovate, manufacture and supply high-quality, tamper-evident security seals, products and solutions to customers internationally, including industry leaders in freight and transportation, oil and gas, banking and cash-in-transit, postal services, defense, utilities, casinos and entertainment, information and communications technology and many more. It provides a full range of fortified ISO 17712, C-TPAT compliant high security seals and other tamper-evident products and services at very competitive prices, which has led us to become the preferred supplier for many leading companies around the world. Mega Fortris UK Ltd is part of the Mega Fortris Group of Companies. Mega Fortris UK performs as a regional sales office to the UK & Irish market sectors.

Key Companies in the Polyester Strap For Manual Grade market includes

• 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, among others

Polyester Strap For Manual Grade Industry Developments

July 2022 Signode launched BXT3 accommodates 9mm to 32mm plastic strapping. Specifically designed for strapping applications using Signode Tenax® polyester (PET) and Signode Dylastic® polypropylene (PP) strapping, the BXT3 strapping tool is capable of variable tensioning speeds of up to 290mm/s. With a lightweight, ergonomic design, intuitive user interface and up to 800 cycles per charge, this tool has already been proven to increase production uptime.

February 2022 Signode launched its new BPT Steel Strapping Tool. The new tool boasts high performance battery and brushless motor technology, providing electronically controlled and reproducible strapping processes. Intelligent features include real time indication of the strapping status and visual and acoustic signals.

February 2022 Signode Introduces First Ever Dylastic® Bio-based PP Strap. It's manufactured with a minimum of 40% renewable bio plastic and vegetable raw materials, reducing CO2 emissions by ~50%. The Dylastic bio-based PP strap has the same characteristics as our standard PP strap so it’s compatible with our hand tools and equipment, and is available in multiple widths, thicknesses and strengths.

Polyester Strap for Manual Grade Market Segmentation

Polyester Strap for Manual Grade Application Outlook

• Residential


• Non-Residential

Polyester Strap for Manual Grade Power Outlook

• 1000 to 1600 Watt


• 1600 to 2000 Watt


• <1000 Watt


• > 2000 Watt

Polyester Strap for Manual Grade Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East and Africa  
  
  
  
  • Saudi Arabia
  
  
  • South Africa
  
  
  • UAE
  
  
  • Rest of Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South America