GITNUX MARKETDATA REPORT 2024

Plastic Straps Industry Statistics

The plastic straps industry is expected to continue growing due to increasing demand in industries such as logistics and packaging.

Statistic 1

"In 2020, the global Plastic Straps market size was valued at USD 1.32 billion."

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Statistic 2

"The Plastic Straps market is projected to reach USD 4.41 billion by 2027."

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Statistic 3

"North America held the highest market share in the Plastic Straps Market with 32.5% in 2019."

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Statistic 4

"Steel strapping segment accounted for the highest share in the Plastic Straps market, with over 41% in 2019."

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Statistic 5

"The polypropylene segment is projected to grow at the fastest CAGR of 17.2% by 2027."

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Statistic 6

"The APAC region is projected to register the fastest growth in the Plastic Straps market during 2018-2025."

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Statistic 7

"The PET Straps segment is expected to exhibit a CAGR of 5.1% during 2021-2026."

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Statistic 8

"The Polyester Strapping segment dominates the market with a share of 38.6% in 2021."

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Statistic 9

"The food & beverage industry dominates the end-user segment with a share of 42.2% in 2019."

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Statistic 10

"The fastest growing Plastic Straps type is expected to be the composite straps, growing at CAGR of 5.2% from 2021-2026."

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Statistic 11

"The top five companies held around 20% share of the global Plastic Straps market in 2020."

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Statistic 12

"The online distribution channel is expected to grow at the fastest CAGR of 6.5 % during the forecast period 2021-2026."

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Statistic 13

"The retail & consumer goods end-use segment is projected to reach a market value of $1.7 billion by 2027."

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Statistic 14

"Currently, the paper industry is the third-largest consumer of plastic strapping and is likely to consume over 55,000 tons by 2027."

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Statistic 15

"As per the regional market share, Europe accounted for more than 23% of the global market in 2020."

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Statistic 16

"In 2020, around 45% of the plastic straps used globally were produced using polypropylene."

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Statistic 17

"In accordance with end-use applications, the packaging industry held a major market share of 35.4% in 2020."

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