In the Global Strapping Industry Market Analysis &
Forecast 2018-2023, the revenue is valued at USD 4.6 billion in 2017 and is
expected to reach USD 7.69 billion by the end of 2023, growing at a CAGR of
6.21% between 2018 and 2023. The growth can be attributed to rising demand from
the various application industries such as food & beverages, consumer
goods, and others.
The production is estimated at 1697.45 million in 2017 and
is forecasted to reach 2727.73 million by the end of 2023, growing at a CAGR of
8.18% between 2018 and 2023. Globally growing demand from the packaging
industry in various application segments is anticipated to be a key factor
driving the growth. The presence of emerging economies such as India, China,
and Japan are driving the growth.
Strapping machines are widely used in the packaging industry
for use in various applications such as food & beverages, consumer goods,
newspapers and merchandise products. Protection of these merchandise products
requires strapping to combine, hold, stabilize, and fasten the goods. Primarily
these operations are used for transportation of packaged goods, where machine
creates a strap or band which holds the products or goods together. Utilization
of machines in various industries such as general packaging, commercial &
newspaper printing is expected to fuel the growth over the forecast period.
The big operations require the operators to consider safety
as a paramount concern, and this may challenge the market growth. To address
the safety concerns, different authorities such as HSE, BS, and others have
laid down the standards for the operator’s safety. The health and safety
standards are also, designed to provide guidelines for installation, operations,
and other maintenance works required for strapping machines. According to their
use strapping machines are classified as semi-automatic, automatic and fully
automatic machines.
The semi-automatic segment finds a variety of uses in the
packaging industry. Semi-automatic segment is offered in two types including
low volume and moderate volume. This equipment finds use in the small business
units that have limited packaging requirements. In addition to that,
semi-automatic machines of the moderate volume types are utilized in industries
providing continuous shipping of goods.
The food & beverage accounted as the largest segment
using strapping machines for wrapping and packaging. Rising importance of
packaging to protect food & beverage products has become a crucial factor
driving the demand. The strapping is important to maintain the usability and
quality of goods during transportation of food commodities. Rising demand for
various types of machines including semi-automatic, automatic and fully automatic
are increasing proportionately to the number of products to be shipped.
Strapping machines are purchased in bulk quantity in Asia
Pacific and North America regions due to the presence of the main market
players in the packaging industry. The demand is coupled with major economies
such as U.S, Canada, India, China, and Japan. Furthermore, increasing
purchasing power of consumer has led to growing demand for consumer goods and
other merchandise products, which in turn is anticipated to fuel the market growth.
This report covers Regional Segment Analysis, Type, Application,
Major Manufactures, Industry Chain Analysis, Competitive Insights and
Macroeconomic Analysis.
Global Strapping
Market by Regional Segment Analysis includes North America, Europe, China, Japan,
Southeast Asia & India.
The Major players
in the market are PAC Strapping Products, Uline, Linder Seevetal, M.J.Maillis
Group, Signode, Carolina Strapping, Cordstrap, Samuel Strapping, Polivektris,
others.
Global Strapping Market
by Product Segment Analysis consists of Steel Strapping, Plastic Strapping
& Others.
Global Strapping Market by Application Segment Analysis consists of
Wood Industry, Paper Industry & Others.
Why one should consider this report?
It gives a forward looking point of view on various variables driving
or controlling business sector development.
This report gives stick guide examination toward changing focused
elements.
It gives a six-year estimate surveyed based on how the market is
anticipated to develop.
It helps in understanding the key item portions and their future.
It gives stick point investigation of changing rivalry elements and
keeps you in front of contenders.
It helps in settling on educated business choices by having complete
bits of knowledge of market and by making inside and out investigation of
market sections.
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