Polyester Straps Market Explores New Growth Opportunities By 2024

The polyester strap is a wrapping solution used for the secured transportation of materials such as steel and iron bars, coils or riling sheets, pipes, wooden crates, and cables among others. They are convenient to use during the wrapping and unwrapping of a product. Polyester straps are most commonly used for transportation and shipping purposes. These straps are light in weight and are cost effective as compared to the steel wraps and can be used multiple times.

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Global Polyester Straps Market: Segmentation

The global polyester straps market is segmented into its application, type of material, and geography. On the basis of application, the market is divided into building material and wood, industries and pelletization. Building material and wood are further sub-divided into plywood, timber, plastic boards, and roofing tiles. Industries further include leather, textile, paper, glass and ceramics, and iron and steel. Subdivision of pelletization is seen into bottles and cartons. Based on the type of material, the market is segregated into polypropylene and polyethylene terephthalate. On the basis of geography, the market is diversified into Europe, Latin America, North America, Asia-Pacific, and the Middle East and Africa.

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Global Polyester Straps Market: Growth Factors

There is a large scale demand for metal sheets, iron rods, film rolls, timbers, cables, and textiles. These materials are transported from one place to another and in order to prevent any damage to these products, they are wrapped in polyester straps. This leads to a soaring demand for polyester straps in the market. Features of polyester straps such as light in weight, relatively less cost as compared to steel straps, elongate to withstand shock, heat sealable by automatic or manual strapping tools, safe to use, and impervious to rust are the driving factors of the polyester straps market growth. However, the existing approach of wrapping the products with the remnant may hamper the market penetration of polyester straps.

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Global Polyester Straps Market: Regional Analysis

The largest share of the polyester straps market is held by Asia Pacific. Asia Pacific dominates the iron, steel, and such similar products market and polyester straps, which are used to wrap such products, will simultaneously show a great demand in this region. China, India, Japan, Australia, and New Zealand are some of the major growth centers of Asia Pacific. Demand for polyester straps will also witness a hike in the European countries mainly due to the large-scale production of glass and ceramic products in this region. North America is anticipated to have a slower growth rate in the coming years due to the established economy of this region. Stagnant economic conditions in Latin America and the Middle East and Africa will result in a sluggish market growth in these regions.

Global Polyester Straps Market: Competitive Players

Some of the major players in the polyester straps market include S & K Packaging Industries, North Shore Strapping Inc., Ruparel Polystrap Pvt. Ltd., Consent LLC., Auto Strap India, Linder GmbH., Plastic Extruders Ltd., Narrowtex Pty (Ltd.), and Signor Polymers Pvt. Ltd.

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Post Author: Ravi Mandalia

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