Americas Strapping Materials Market Analysis and Value Forecast Snapshot by End-use Industry By 2025

The Americas strapping materials market size was estimated at USD 1.64 billion in 2017 and is expected to register a CAGR of 4.0% over the forecast period. Rising demand for lightweight materials to reduce cost per unit volume levied by logistics carriers is expected to drive the market through 2025.
The market is majorly driven by growing product demand from various application segments such as food and beverage and industrial packaging. Factors such as rising awareness and importance of sustainable and environment-friendly packaging are also anticipated to boost market growth over the forecast period.
U.S. strapping materials market
Synthetic fibers such polyester and polypropylene are majorly used as a raw material on account of their technical properties such as high tensile strength and abrasion resistance. PET straps produced by melting recycled PET materials, granules, pellets, or flake offer high strength and stretchability to the straps.
Volatile prices of raw materials such as steel, polyester, and polypropylene may challenge market growth over the forecast period. Rising cost of energy and other utilities required for manufacturing these raw materials is also anticipated to impact the market.
Key manufacturers are emphasizing on manufacturing cost-efficient, environment-friendly, and application-specific straps in order to increase growth opportunities and ensure compliance with regulatory frameworks. Furthermore, use of plastic straps over non-plastic straps has witnessed increased demand in the last few years as they can be recycled.
Rising environment regulations related to carbon emission and disposal of waste have had a major impact on manufacturers. Leading manufacturers operating in the industry are involved in recycling and reusing plastics, with increased focus on addressing environmental concerns as well as reducing raw material costs.
Further key findings from the report suggest:
  • By product, polyester accounted for the largest revenue share in 2017 on account of high penetration of the product in the metals and mining industry, which is an important contributor to economic growth in countries such as Argentina, Brazil, Chile, Peru, and Columbia
  • Product demand in industrial logistics and warehousing in CSA is expected to be driven by increasing use by freight forwarding companies as strapping offers secure cargo movement
  • The food and beverage application segment accounted for a significant revenue share in 2017 on account of increasing product use as a substitute for wrapping. The materials save cost and time involved in packaging of food items to be shipped
  • The market in Central and South America is expected to register a CAGR of 5.0% owing to rising product demand in the building and construction industry, which involves transportation of high volumes of construction material
  • The Americas strapping material market is characterized by a few recognized global players and a large number of domestic players, with brand identity playing a major role. These players primarily compete on the basis of product quality.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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