According to TechSci Research report, “United States Plastic Straps Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, the United States Plastic Straps Market stood at USD 603.25 million in 2022 and is anticipated to grow with a CAGR of 7.65% in the forecast period, 2023-2028. The initiatives taken by the government based on plastic straps have led to favorable market conditions for the United States Plastic Straps Market. Several factors contribute to the growth of various plastic strap products.
The U.S. Department of Energy launched the Plastics Innovation Challenge in 2018 with the aim of addressing the pressing issue of plastic waste. This comprehensive program not only focuses on plastic recycling but also coordinates various departmental initiatives to tackle the challenges associated with plastic waste management. While the Plastics Innovation Challenge doesn't directly target plastic straps, its impact on the industry is significant. By encouraging innovation in recycling technologies and methods, this initiative has the potential to revolutionize the production of plastic straps, making them more sustainable and environmentally friendly.
An increasingly common and promising approach to managing plastic waste is Extended Producer Responsibility (EPR). Under EPR schemes, producers are held accountable for the entire lifecycle of their products, including the collection and management of waste generated from their products.
For the plastic straps industry, embracing EPR could mean taking full responsibility for the end-of-life management of their products, which in turn would incentivize the development of recyclable or biodegradable straps. This shift towards EPR not only helps reduce the environmental impact of plastic straps but also fosters a circular economy by promoting resource efficiency and minimizing waste generation.
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In the paper industry, plastic straps play a crucial role in securing and bundling various paper products, such as books, newspapers, magazines, and packaging materials, during storage and transportation. These straps, with their lightweight nature and high tensile strength, provide an ideal choice for the industry. They not only ensure the safe and secure bundling of paper goods, minimizing the risk of damage or loss but also offer a high level of load stability and resistance to breakage.
The United States demand for paper products is experiencing a significant upsurge, driven by various factors including increasing literacy rates, urbanization, and the thriving e-commerce sector. As the demand for paper products continues to grow, the need for efficient and reliable bundling solutions becomes even more critical, thus further boosting the demand for plastic straps.
Moreover, the surge in online shopping has resulted in an increased demand for paper packaging materials. These packaging materials, including boxes, cartons, and wrappers, need to be securely bundled for storage and shipment. This further highlights the importance of plastic straps in the paper industry, as they provide the necessary strength and durability to keep the packaging materials intact and protected.
Overall, plastic straps offer a valuable solution to the paper industry's bundling needs, ensuring the safety, stability, and efficiency of the storage and transportation of paper products. With their versatile characteristics and rising demand, plastic straps continue to be an essential component in the ever-growing paper industry.
The United States Plastic Straps Market is segmented into type, end user, regional distribution, and company.
Based on its end user, the Industrial Logistics & Warehouse segment held the largest share in the market. Strapping also referred to as banding and bundling, is the process of attaching a strap to an object to unite, stabilize, hold, reinforce, or secure it.
This technique finds its most common application in the packaging industry, where packaging plays a crucial role in industrial logistics and storage. With the growing demand for plastic strapping in this business, it has become an indispensable solution. Notably, plastic strapping offers the advantage of UV-stable grades, making it suitable for outdoor storage and ensuring environmental stability. Its increasing popularity can be attributed to its effective performance and cost-saving features, which are anticipated to drive revenue growth in this segment.
Based on region, the Midwest segment is expected to grow during the forecast period. The Midwest’s Plastic Straps Market holds the highest revenue share in the packaging industry. The use of plastic-based packaging materials has significantly contributed to improving the sustainability of transporting heavy items over long distances, thereby driving up the demand for plastic straps in this region. Moreover, the increasing knowledge and awareness among individuals have encouraged package makers to focus on producing sustainable bioplastics for packaging applications.
As an exemplary initiative, Signode recently announced the development of revolutionary packaging solutions, including the introduction of the Dylastic Bio-based PP Strap. This innovative strap is made using vegetable raw ingredients and consists of over 40% renewable bioplastic, effectively reducing CO2 emissions by 50%. This sustainable approach not only benefits the environment but also offers a cutting-edge solution for packaging needs.
Major companies operating in the United States Plastic Straps Market are:
- Crown Holdings Inc
- Messersi' Packaging Srl
- Teufelberger Holding AG
- Polychem Corporation
- Scientex Berhad
- LINDER GmbH
- Mosca Direct Limited
- Dubose Strapping Inc.
- PAC Strapping Products Inc.
- Auto Strap Transport LLC
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“Growing application of plastic straps in various end-user industries are key drivers of the plastic straps market. Growth in the competitive landscape and the presence of well-established companies in the market who are dedicated to enhancing their productivity of plastic straps with every passing year are anticipated to register an impressive growth to the United States Plastic Straps Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“United States Plastic Straps Market Segmented By Type (Polyester Straps, Nylon Straps, Polypropylene Straps, Others), By End User (Industrial Logistics & Warehouse, Food & Beverage, Steel, Paper, Others), By Region, Competition, Forecast and Opportunities, 2018-2028”, has evaluated the future growth potential of United States Plastic Straps Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States Plastic Straps Market.
Table of Content-United States Plastic Straps Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- United States Plastic Straps Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Type (Polyester Straps, Nylon Straps, Polypropylene Straps, Others)
4.2.2. By End User (Industrial Logistics & Warehouse, Food & Beverage, Steel, Paper, Others)
4.2.3. By Region
4.2.4. By Company (2022)
4.3. Market Map
4.3.1. By Type
4.3.2. By End User
4.3.3. By Region
- Midwest United States Plastic Straps Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type
5.2.2. By End User
5.2.3. By Country
- Northeast United States Plastic Straps Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By End User
6.2.3. By Country
- South United States Plastic Straps Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End User
7.2.3. By Country
- West United States Plastic Straps Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User
8.2.3. By Country
- Market Dynamics
9.1. Drivers
9.2. Challenges