Strapping Materials Market - Industry Analysis, Market - Forecast(2024 - 2030)

The Strapping Materials market size is estimated to reach US$1.458 billion by 2030 after growing at a CAGR of around 6.7% from 2024 to 2030. Strapping materials are widely used in logistics and warehousing as it is used in packaging, bundling of materials like tiles, metals, newspapers and others. For instance, polyester strapping materials are a good replacement for steel straps and are used in the transportation of heavy materials like metals, woods, bricks due to its excellent properties like high break strength, elongation as well as recovery properties. The growth of Renewable Polyesters, due to awareness towards usage of recyclable packaging solutions, will drive the growth of strapping materials industry. According to Textile Exchange Organization, there will be an increase in the production of recycled polyesters from 14% to 45% in the forecast period. Major companies like Mosca, are using recycled polyesters these days to produce strapping materials for corrugated boxes. Thus, this will further drive the growth of the strapping materials industry in the coming years.

There is a growing demand for sustainable options. As environmental concerns continue to rise, businesses are increasingly seeking eco-friendly alternatives to traditional plastic strapping materials. This has led to a surge in the development and adoption of biodegradable, recyclable, and renewable strapping materials made from sources like paper, bio-based polymers, and recycled plastics. Companies are also investing in innovative technologies to create strapping materials that maintain strength and durability while minimizing environmental impact, meeting both consumer preferences and regulatory requirements.

Integration of automation and technology has enhanced efficiency of strapping processes. With advancements in robotics, artificial intelligence, and machine learning, there's a growing emphasis on automated strapping systems that streamline packaging operations, reduce labor costs, and improve overall productivity. These automated systems offer features such as precise tension control, customized strapping patterns, and real-time monitoring, allowing businesses to optimize their packaging workflows for speed, accuracy, and consistency. Additionally, the integration of smart sensors and connectivity enables remote monitoring and predictive maintenance, further enhancing operational efficiency and minimizing downtime.

The COVID-19 impact increased the growth of strapping materials market. This is due to the increase in demand of strapping materials in various applications like logistics and warehousing, pulp and paper and others. During covid, there was an increase in demand for logistics and warehousing due to the growth of e-commerce. According to United Nations Conference on Trade and Development, share of e-commerce in global retail trade increased to 17% in 2020 from 14% in 2019. This will increase the need for strapping materials because strapping materials are needed in bundling items like newspaper, pipes and others. Strapping materials are also used in corrugated boxes. According to The Federation of Corrugated Box Manufacturers, due to the emergence of e-commerce, there was an increase in the use of corrugated boxes. Strapping materials are used in reinforcing corrugated boxes like gaylords. Thus, there was a positive growth of strapping materials industry in the 2020 pandemic period.

E-commerce was a growing market even in 2023, when the world had largely recovered from the pandemic. The boost provided by the pandemic persists post pandemic as well.

The report: “Strapping Materials Market– Forecast (2024-2030)” by IndustryARC covers an in-depth analysis of the following segments of the Strapping Materials Industry.

By Material: Steel (High Tensile Steel, Stainless Steel, Galvanized (Zinc-Coated) Steel), Polypropylene, Polyester, Nylon 6.6 and Others.

By End-User: Food Packaging (Jersey Beverage cans and bottles, Bakery products, Dairy products, Frozen food packaging, Food packets), Industrial Logistics and Warehouses, Pulp and paper (Corrugated boxes, Crates, Wooden boxes, Pulp paper, Paper rolls), Building & Construction and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa))

• The rise in demand of polyesters has increased the use of Strapping Materials in various applications like logistics and warehousing, pulp and paper and others. This is because of their excellent properties like high elongation and elasticity.

• The growth of logistics and warehousing due to the growth of e-commerce will drive the market due to the use of strapping materials in palettizing and bundling of materials like newspapers, metals, in transportation and warehousing.

• Asia-Pacific will witness a significant growth in strapping materials market due to the rise in demand for logistics and warehousing activities.

 

Polyester strapping material held the largest share in 2023 and is expected to grow at a CAGR of 6.1% in the forecast period. This is because polyester straps show properties like high tensile strength, UV resistant, reliability, recyclable and excellent stretch recovery properties. Polyester is the most use material for strapping purposes. Polyester held a market share of around 54% of total global fiber production, that is, around 63 million tons of polyester were produced in 2022. Thus, the growth of polyester will increase the use of polyester in strapping materials. Polyester straps show properties like high tensile strength, UV resistant, reliability, recyclable and excellent stretch recovery properties. Polyester straps have almost replaced steel straps as steel tends to corrode, which deteriorates the quality of logistic goods. The demand of polyester strapping materials has increased in logistics and shipment as they have very high elongation and offer high tension, which helps in absorbing shocks and impacts caused due to transportation and handling far better than steel straps. Polyester straps are extensively used in bundling, stabilizing heavy loads and others. Thus, there is an increase in demand of polyester straps.

Strapping materials are widely used in industrial logistics and warehouses, as the logistics and warehousing applications are expected to grow at a CAGR of around 8.8%. Logistics and warehousing are the most growing segment due to the growth of e-commerce. According to International Air Transport Association (IATA), E-Commerce logistics was the fastest-growing segment within cargo in 2023. Thus, due to the growth of logistics and warehousing, the demand for strapping materials is also increasing. Strapping materials as polyesters and propylene straps are used in logistics for carrying medium to heavy duty loads like construction materials. For instance, Mosca, a major player of strapping materials market produces PET strapping materials which can sustain loads ranging in between 396 lbs. (0.18 tons) and 1322 lbs. (0.60 tons) as they have high elongation and elastic properties. Strapping materials are used in logistics to secure cargos as their elasticity absorbs shocks during transportation.

Asia Pacific will be the largest and the fastest-growing region in the Strapping Materials market in the forecast period with a share of around 40%. This is because countries of Asia Pacific region like China, India, South Korea and others witness a significant growth in applications like industrial logistics, food & beverage, consumer electronics and others. According to the China Federation of Logistics and Purchasing (CFLP), China's logistics during 2023 increased by 3.9%. Strapping materials are affordable, light weighted and are available in different width and thickness according to the loads and widely utilized in bundling and palletizing. Steel straps are often used for bundling metal loads such as metal bars, rods, and coils due to high break strength properties. Thus, the increase in logistic and Warehousing activities, will increase the demand for strapping materials in Asia-Pacific region.

Around 45% of plastic waste is found to be recycled annually in the UK due to the growing awareness of plastic pollution. This growing awareness among people for recycling plastics, will raise the demand for recyclable packaging and strapping amongst consumers. For instance, Signode, a leading player in the strapping materials market, has innovated a specific Closed Loop Recycling Program through which the company recycles the used polyester strappings for packaging waste reduction and to minimize the disposal costs. Signode also manufactures Tenax polyester strapping which is produced using recyclable materials and it also requires 20% less material for its production. Thus, this increase in the use of recycling plastics for strapping materials is the driver for the market.

There is a growing demand for improved logistics operations and warehousing which will drive the growth of strapping materials. This is because of the growth of e-commerce sector which is growing 3 times faster than the entire U.S. retail industry. Due to the growth of e-commerce, there has been increase in the transportation and logistics segment and therefore increased the number of warehouse centers. Strapping materials are used in the safe transport of heavy industrial equipment and materials like wood, paper, metal, brick and others in various locations.

The fluctuating cost of raw materials, such as plastic or steel, which directly impacts production expenses and pricing. Economic uncertainties, geopolitical tensions, and environmental regulations can all influence material prices, making it difficult for manufacturers to maintain stable margins.

Technology launches, acquisitions, and R&D activities are key strategies that are adopted by the dominant players in the strapping materials market. The key companies in the strapping materials market are:

1. Crawford Packaging

2. Technopack Corporation

3. Strapack Inc.

4. Crown Holdings (Signode)

5. Titan Umreifungstechnik GmbH & Co.

6. Mosca GmbH

7. Martin Packaging Limited

8. 3M

9. Cyklop International

10. Samuel, Son & Co., Limited

• In March 2023, EAM-Mosca Corp., a subsidiary of Mosca GmbH, has announced a sales and marketing collaboration with Reisopack S.L. of Spain. Under the terms of the agreement, EAM-Mosca will serve as the exclusive provider of Reisopack's strapping systems and OEM parts to customers in the United States, Mexico, Canada, and Brazil.

• In February 2023, Samuel Son & Co. unveiled the opening of a state-of-the-art 350,000-square-foot Greenfield facility in Mexico, strategically positioned to meet the increasing demands of its expanding clientele.

• In December 2022, Signode has introduced a groundbreaking BST battery-powered tool tailored for seal-less strapping, bolstering load security and stability for heavy-duty tension needs.