Global Plastic Straps Market to Witness 19.4% CAGR During 2018 – 2024

1. Plastic Straps Market

2. Plastic Straps Market Industry Overview The global plastic straps market is predicted to grow at 19.4% CAGR during the forecast period with the market size reaching USD 4.9 billion by 2024. The market is driven by the factors such as growing demand in emerging markets across globe, low-cost alternative to other material, and increasing demand from steel, paper, and other industries. Different types of plastic straps such as polyester straps, propylene straps, and nylon straps majorly contribute to the global market size. These straps have high flexibility; are easy to handle; and are lightweight, which makes them preferred option in comparison to their alternatives.

3. Plastic Straps Market Based on type, the plastic straps market is segmented into polyester straps, polypropylene straps, nylon straps, paper straps, and others. Of all the products, the polypropylene straps account for the largest share in the market. The category is also predicted to grow at the highest growth during the forecast period due to the large application areas of these straps in various industries. These straps offer the advantages such as good elongation properties, high tensile strength, increased flexibility, easy handling, and others.

4. Plastic Straps Market Geographic Overview: Asia-Pacific accounted for the major share in the plastic straps industry in 2017, globally as the positive economic growth due to the increasing purchasing power and increasing disposable income of the Asian countries such as China, India, Philippines, and others. Also, high growth of different end se industries in the region offers ample opportunities for the industry players to generate significant revenue in the coming years. Moreover, North America is observed to witness the significant growth in the plastic straps market, owing to the several benefits of these straps such as low cost, flexibility and its light weight.

5. Plastic Straps Market Competitive Insight Key players offering products in the plastic straps industry are Crown Holdings, Messersì Packaging, Teufelberger, Polychem Corporation, Scientex Berhad, Linder Seevetal, Mosca Direct Limited, Dubose Strapping, PAC Strapping Products, and Auto Strap India. Explore Full Report Description at: https://www.vynzresearch.com/chemicals-materials/plastic-straps-market

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