Plastic Strapping Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
The plastic strapping materials market is likely to undergo notable growth during 2018-2028, with a promising double-digit CAGR. The plastic strapping materials is expected to drive robust growth, thanks to growing demand in bricks and tiles industries, and paper, steel. The plastic strapping material market report will cover various features including drivers, constraints, and opportunities. The report will also provide peek into various challenges, both competitive, and landscape-related. The market is divided by type into corded and woven straps, composites strap, nylon straps, polypropylene straps, and polyester straps based on type. Additionally, the report will provide further insights into various end-industries including steel, paper, cotton, fiber, tiles, among others. You can also choose to peek into particular regions of the globe with a customized version with focus on all or some regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Amazon CEO, Jeff Bezos showcased an intelligent arm technology which responds to human instructions with hand gestures. During the showcase, plastic strapping on boxes was also used to showcase some of the advance capabilities of the new technology. It is well-known that Amazon is experimenting with robotic operations in its warehouses. Additionally, the technology is ideal for plastic strapping on boxes, as in future it can save considerable time and result in major expansion for automated warehousing facilities in the near future. The development shows that the automated robotic technology is already on its way and current players in the plastic strapping materials market can benefit with product innovations to cater to the growing changes with trends like automation.
The rising demand from e-commerce for packaging is resulting in significant innovations in the plastic strapping materials market. An European company with 60% of its business in corrugated board sector launched a corrugated bundler recently. The bundler can respond to the changing needs of corrugated product producers. It can strap complex four to six point folding cartons with strapping options on all six sides, and provides digital communication with the help of a touch panel with an option to recall saved recipes. The rising demand from e-commerce, coupled with high-volumes, and constant need to increase shipping rates are expected to result in more umbrella products with a strong bonding between end-use, packaging needs, and strapping materials with packaging products.
The global plastic strapping materials market is expected to witness robust growth, thanks to rising demand from e-commerce. The growth of automated packaging machines, low cost-availability of strapping materials, and their essential application in safety of products are expected to drive robust growth for the market in near future. The stringent regulatory environment in the market with increasing opposition to plastic material promise a challenging period ahead. However, growing recycling of materials, and increasing advancements in materials making way for replacement of plastics will drive robust growth for the plastic strapping materials in the near future.
The global plastic strapping materials market will witness robust growth in North America. The region home to increasing growth of e-commerce, food deliveries, and automation will likely create significant opportunities for growth. The stringent regulatory environment in the EU will also not affect the sales of plastic products in key markets like the US due to strong demand for packaging, and government support in the region. Moreover, the rising disposable incomes, and growing demand for e-commerce will drive robust growth for the plastic strapping materials market in Asia pacific region.
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Latest Trends and Cardinal Growth Prospects
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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