Europe Plastic Strap Market Growth Drivers and Forecast by 2027

The Europe Plastic Strap market accounted to US$ 418.48 million in 2019 and is projected to account US$ 1,285.68 million by 2027; it is expected to grow at a CAGR of 15.3% during 2020–2027.

A plastic strap is a flexible flat type which helps to combine, hold, reinforce, or fasten an item. Plastic strapping used for packaging is a generic term used to describe all non-metallic straps and includes extruded polypropylene & polyester straps together with corded or woven polyester straps. The growth of Europe Plastic Strap market is driven by the increasing use of plastic straps in the paper, steel, and bricks & tiles industries. Demand for plastic straps in developing countries is expected to grow on account of the presence of established leading strap manufacturers such as Auto Strap India, Teufelberger Stralsund GmbH, Cyklop International, and FROMM Group, which are focused on research and development activities. The developments in the building industry associated with the use of types are changing faster than ever before. Urbanization is considered to be one of the international megatrends that are shaking up the building industry. The population of urban areas is rising by 200,000 people every day, many of whom need moderately priced housing as well as transport, social, and service infrastructure. In such challenges, the construction industry is practically under a moral compulsion to transform Its transformation has an impact elsewhere on the broader society, by lowering construction costs and by illuminating the use of scarce resources or by making buildings more eco-efficient and by improving economic growth and narrowing the infrastructure gap. Utilization of plastic straps in owing to the demand for type with heavyweight and tensile strength. Increasing infrastructure demand in the evolving economies on account of developing road infrastructure, increase in per capita ownership of houses, and rising spending capacity is expected to affect the construction sector in the region, which in turn will drive the demand for plastic straps.  

The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of October 2020, Italy, France, Spain and UK are among the worst-affected countries in Europe in terms confirmed cases and reported deaths. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. shutdowns of chemicals and materials industry and disruptions in supply chains due to lockdown of countries has created a strain on the supplies of the various products offered by this industry. The Italy has the highest number of confirmed cases of COVID-19 infection among all European countries. This is impacting the chemicals and materials industry as the shutdowns in the country are affecting the European supply and distribution chains.

Europe Plastic Strap Market

Market Insights

Rising preference for lightweight and low-cost strapping types

Plastic strapping types are produced from polypropylene, polyester, and are available in a wide variety of styles, strengths, and finishes. Strapping can be applied either automatically with a strapping machine or manually with a hand tool. Strapping is widely used across many industries, including shipping large industrial equipment to e-commerce fulfillment centers. Different products of strapping type are available with specific classifications and grades. These straps are increasingly used in a wide range of industries, such as steel, paper, cloth, cotton and bricks, and tiles. In the last several years, the popularity of plastic strapping has risen over many other packaging options. This is mainly due to the cost-saving advantages plastic strapping offers over its competitive products and efficiency benefits. Metal seals are not required in plastic strapping because either friction or heat seal is used to weld the strap. Also, damage to goods is significantly reduced at a lower cost per foot without metal seals, and it is created at a lower price. Plastic strapping is developed in compliance with the toughest industry tolerances. It is approved for the use of both brick and timber. It is ideal for heavy-duty loads when good initial tension and retained tension are required because they have splendid retained tension properties. This way, even after the package has settled or its size has shrunk, the strap stays tight around the load. There are various high-speed automatic unitizing systems and hand tools for which this strapping form can be used. It is available in a wide variety of lengths, widths, and gauges. Nowadays, high strength plastic strapping is also available for closed rail and open-top shipments of brick, lumber, and other vehicles' panel products. Due to its lightweight properties, it can be easily folded and shaped from one position to another. This further creates a massive demand for plastic straps across Europe.

Type Based Insights

The plastic strap market based on type has been segmented into polyester straps, polypropylene straps, nylon straps, paper straps, composite straps, corded and woven straps. In 2019, the polypropylene straps segment accounted for a larger share of the Europe Plastic Strap market, whereas the market for polyester strap is expected to grow at a higher CAGR during the forecast period. Polypropylene is often measured between high-density polyethylene (HDPE) and low-density polyethylene (LDPE) on the crystallinity level. This form of strapping is considered light to medium-duty and is the most economical choice for a variety of reasons. Out of all strapping materials, polypropylene is the most widely used and comes in various widths, thicknesses, and combinations of polymers. Polypropylene is often recyclable and is, therefore, an environmentally friendly alternative. The high demand for these straps can be attributed to its wide range of applications in various end-use industries owing to its higher strength, greater flexibility, better elongation properties, and ease of handling. Today polypropylene is considered as one of the main type of plastic strapping, which is specially designed for light to medium duty unitizing, bundling, and palletizing.                                                                      

Europe Plastic Strap Market, by Type – 2019 and 2027

End Use Based Market Insights

Based on end use, the plastic strap market is segmented into fiber, steel, cotton, paper, bricks and tiles and others. In 2019, the paper segment dominated the Europe plastic strap market; whereas, the cotton segment is expected to grow at the fastest rate during 2020–2027. For convenient handling and shipping of newspapers, plastic straps are used for bundling items. Also, the growing demand for plastic straps in the paper industry is likely to propel the market's growth for plastic straps in the coming years. For packaging companies worldwide, environment-friendly packaging solutions have become a trend rather than an exception. The profound shift in corporate standards, government policy, trade regulations, and customer preferences has led to a paradigm shift in the packaging industry towards eco-friendly solutions. The newspaper and graphics has been rising in emerging economies due to the increased production and distribution of various magazines and print advertising. This can be due to an increase in newspapers' number of pages on particular occasions and rapid urbanization. In the packaging industry, newspapers and magazines are also used, which will consequently increase the uptake of paper strapping materials in the application section of newspapers and graphics.  

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Europe Plastic Strap Market: Strategic Insights

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Product development, merger and acquisition, and business planning are the commonly adopted strategies by companies to expand their product portfolio. Fromm Group, Linder GmbH and Teufelberger Stralsung GmbH are amongst the market players implementing this strategy to enlarge the customer base and gain significant market share in Europe, which in turn permits them maintain their brand name in the Europe market.

Report Spotlights

• Progressive industry trends in the Europe plastic strap market that help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Europe plastic strap market from 2017 to 2027
• Estimation of Europe plastic strap demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the market competition in Europe
• Market trends and outlook, coupled with factors driving and restraining the growth of the Europe plastic strap market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the Europe plastic strap market growth

• Europe plastic strap market size at various nodes of market
• Detailed overview and segmentation of the Europe plastic strap market, as well as its dynamics in the industry
• Europe Plastic strap market size in various regions with promising growth opportunities

Europe Plastic Strap Market, by Type

• Polyester Straps
• Polypropylene Straps
• Nylon Straps
• Paper Straps
• Composite Straps
• Corded and Woven Straps

Europe Plastic Strap Market, by End Use

• Fiber
• Steel
• Cotton
• Paper
• Bricks and Tiles
• Others

Company Profiles

• Teufelberger Stralsund GmbH
• Cyklop International
• FROMM Group
• Linder GmbH
• Crown Holdings Inc.

Report Scope

Europe Plastic Strap Market Regional Insights

The regional trends and factors influencing the Europe Plastic Strap Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Europe Plastic Strap Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Europe Plastic Strap Market Report Scope

Europe Plastic Strap Market Players Density: Understanding Its Impact on Business Dynamics

The Europe Plastic Strap Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Europe Plastic Strap Market are:

1. Teufelberger Stralsund GmbH
2. Cyklop International
3. FROMM Group
4. Linder GmbH
5. Crown Holdings Inc.

Disclaimer: The companies listed above are not ranked in any particular order.