Budding cross-border trade has significantly inflated the volume of the goods for export and import. With this increased volume of goods, the need for securely sealing of containers has also increased to ensure the safety of products and crew members. Packaging straps are the idle solution for addressing the security concerns during the transit of the goods. Packaging straps keep the products in a stationary position during the transportation thus preventing accidents and damages due to the movement and large containers. The material and dimension of the straps may vary with the load of the containers that is being used for transportation of goods. Plastic and metal are two prominently used materials for manufacturing of the straps.
Packaging Straps and Buckles Market: Market Segmentation, Segmentation and Key Players
Expanding geographic customer base of the companies has led to the increased use of shipping agencies for transportation of goods hence generating the demand in packaging straps and buckles market. The need for ensuring the safety of products and crew members is the key driver for boosting of the demand in packaging straps and buckles market. Straps and buckles are reusable hence reducing overall expenditure for securely sealing of the goods and generating the demand in packaging straps and buckles market. However, the presence of the substitutes such as raffia tapes for sealing of the cartons can hamper straps and buckles market. Moreover, plastic shrink wrap packaging solutions can absorb the market share of straps and buckles due to its property of eliminating and pilferage during the transit and ability to protect the goods from dust and external environment. However, on the backdrop of the need for stacking of goods during the transit to make shipping of logistics more economical and safe the packaging strapping and buckles market is set to increase.
Packaging straps and buckles market can be segmented by material type, by material type for buckles, by the dimension of straps, strain and by end-use industry. Based on the type of material used, packaging straps and buckles market can be segmented into: Plastic- Polyester, Polypropylene, PET, Nylon; Paper (for paper products), Cord, Steel; Based on the type of material used for buckles, packaging straps and buckles market can be segmented into: Plastic, Steel; Based on the dimensions, packaging straps and buckles market can be segmented into: (width * Thickness) (mm), Plastic- (13 – 19) * (0.5- 1); Steel- (16 – 32) * (0.5 * 0.8); Based on the strain, packaging straps and buckles market can be segmented into: Light Duty, Medium Duty, Heavy Duty; Based on the end use, packaging straps and buckles market can be segmented into: Cartons, Film Rolls, Clay Building Bricks, Bulk Containers, Export Containers, Timber, Steel Coils, Others (boilers, machinery, etc.); Packaging Straps and Buckles Market: Regional Outlook. Regionally global packaging straps and buckles market is segmented into: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan (APEJ),The Middle East and Africa (MEA), Japan
The need to cover vast land to fulfill the huge requirement of goods in the region is expected to drive packaging straps and buckles market over the forecast period. APEJ region is expected to register highest CAGR in packaging straps and buckles market over the forecast period due to the rapidly growing consumption of the goods in the region. Being a saturated market Western Europe and Eastern Europe are expected to register moderate growth over the forecast period. Japan is an export based economy is expected to contribute significant value share in packaging straps and buckles market while MEA is expected to register a sluggish growth rate over the forecast period.
Some key players of packaging straps and buckles market are Allstrap Steel and Poly Strapping Systems, Signode Protective Packaging Solutions, M.J. MAILLIS GROUP, Fromm Packaging Systems, Inc, Nefab Packaging Inc. Caristrap International Inc, SPECTA AG, Global Strap CC, MaxPack, Xiamen Isun Fluid Equipment Co., Ltd and Jiaxing Hongdar Packaging Technology Co.