PVC Packing Straps Market is estimated to reach US$567.016 million by 2029 at a CAGR of 5.98%

The PVC packing straps market is anticipated to grow at a CAGR of 5.98% from US$377.542 million in 2022 to US$567.016 million by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 27, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the PVC packing straps market is projected to grow at a CAGR of 5.98% between 2022 and 2029 to reach US$567.016 million by 2029.

The PVC packaging straps are a form of plastic strapping that is used for packaging and bundling of wide variety of products. By its mechanical properties, this type of plastic strapping possesses exceptional tensile strength, moisture resistance, and suitability for different temperatures. PVC packing straps are used in different applications including carton closing, bundling, securing plastic containers, tying materials together during shipment, pallet load sealing as well as material bundling in the waste and recycling sectors.

Plastic strapping is an affordable and lightweight solution that enters into a composition of securing loads during transportation, storage, and handling. Also, it helps as a protection for printed materials to avoid any possible damage done. The polypropylene and the polyester are the varieties of plastic strapping that are present options in the market.

The growing automotive industry is the primary driving force behind the PVC packing straps market growth. The increasing utilization of the automotive industry is leading to PVC strapping for packing. These industries need effective straps to seal components, supplies, and final products during transportation. As a result, PVC straps are becoming more and more in demand due to their affordability, durability, and lightweight properties.

For instance, according to the Federation of Automobile Dealers Association published an article in December 2023 it states that, A significant bounce back happened throughout the financial year of 2023, as the overall volume increased by 11% over the last year of 2022. Growth was observed in all sectors the growth of 2-wheelers recorded a jump of 9.5%, 3-wheelers by 58.5%, Passenger vehicles by 11%, Tractors by 7%, and Commercial vehicles by 8%. The overall volume from all the segments during FY 2022 was recorded as 2,14, 92,324 and during FY 2023 it was recorded as 2,38,67,990 with a surge of 11.05% in FY 2023.

Plastic strapping offers very high tensile strength as a banding material and is used in a lot of packing tasks like closing cartons, bundling items, securing the plastic totes, and unitizing both palletized and un-palletized materials for transfer and shipment inside the proper facility. With a great balance between strength and elasticity, such strappings not only maximize material resources utilization but also are recyclable.

Numerous product launches and collaborations are taking place in the market thereby, increasing the PVC packing straps market growth.

• For instance, in January 2024: TricorBraun, one of the globally acknowledged packaging market leaders, completed their acquisition of Plas-Pak WA, the well-known plastic packaging supplier and manufacturer from Australia. Through this move, TricorBraun has managed to extend its coverage to Western Australia, thus bringing it closer to the diverse customers from the various industries in the region that require a wide range of services.

Access sample report or view details: https://www.knowledge-sourcing.com/report/pvc-packing-straps-market

The PVC packing straps market, based on thickness is segmented into four categories namely below 0.5mm, 0.5mm to 0.75mm, 0.76 mm to 1mm, and above 1 mm. Below 0.5 thickness is expected to account for the major share of the PVC packing straps market growth. Thin choices (less than 0.5mm) are normally favoured more. These solutions can fill the gap of acceptable price-performance trade-offs and secure transportation for lighter objects.

The PVC packing straps market, based on end-user is segmented into four categories namely food and beverages, pharmaceutical, electrical and electronics, automotive, e-commerce, and others E-commerce and food and beverages thickness is expected to account for the major share of the PVC packing straps market growth. PVC strapping is one of the most prevalent applications in different industries because of its pricing advantage and strong grip. E-commerce and food and beverages sectors are the favorable markets that use it in order to achieve the purpose of product palletizing and transportation by virtue of its high efficiency.

Based on geography, the PVC packing straps market is expanding significantly in the North American region due to various factors. In countries like the United States, Canada, and Mexico there is a growing demand for PVC packing straps in various industries, including food and beverages, automotive, pharmaceuticals, and electrical and electronic. The demand is being driven by these nations is due to the Growing popularity of e-commerce websites as well as the strategy for cheap packing in North America offers a great opportunity for PVC straps. The lightweight of the straps allows for cheap transportation and the robustness of the straps assures the safety of goods while they’re being transported. Hence, they become the best options to deal with the rising transactions on the e-commerce platform as well as to meet the requirements of North American businesses.

The research includes several key players from the PVC packing straps market, such as Cyklop, Firelight Capital Partners (FROMM Group), DuBose Strapping Inc., LINDER GmbH, The Sterling Group (Polychem Corporation), Mosca GmbH.

The market analytics report segments the PVC packing straps market as follows:

• By Thickness

o Below 0.5 mm
o 0.5 mm to 0.75 mm
o 0.76 mm to 1 mm
o Above 1 mm

• By End-User

o Food and Beverages
o Pharmaceutical
o Electrical and Electronics
o Automotive
o E-Commerce
o Others

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Cyklop
• Firelight Capital Partners (FROMM Group)
• DuBose Strapping Inc.
• LINDER GmbH
• The Sterling Group (Polychem Corporation)
• Mosca GmbH

Explore More Reports:

• Boxboard Packaging Market: https://www.knowledge-sourcing.com/report/boxboard-packaging-market

• PVC Adhesive Tape Market: https://www.knowledge-sourcing.com/report/pvc-adhesive-tape-market

• Global Blister Packaging Market: https://www.knowledge-sourcing.com/report/global-blister-packaging-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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