PUBLISHER: Market Research Future | PRODUCT CODE: 1591340
PUBLISHER: Market Research Future | PRODUCT CODE: 1591340
Europe Plastic Strapping Market Research Report Data Analysis by Thickness {Small (less than 0.5mm), Medium Duty (0.5mm - 1mm), and Large (more than 1mm)}, by Width { Narrow (less than 12mm), Medium (12mm - 19mm), and Wide (more than 19mm)}, by Application(Consumer Goods Packaging, Industrial Packaging, Logistics & Transport, Agriculture, and Other Application) Forecast to 2032
It is anticipated that the European plastic strapping market will experience a substantial compound annual growth rate (CAGR) of 11.79% during the review period. The increasing demand from industries such as construction, packaging, and logistics, where plastic strapping is essential for palletization, bundling, and securing products, is one of the key drivers.
The market was dominated by Germany with a share of 18.6% in 2023 and is anticipated to remain so throughout the forecast period as a country. The plastic strapping market in Europe is fragmented and dominated by local actors in the region. The demand for plastic strapping from local actors has increased due to the EU initiative toward local manufacturing and trade restrictions from China.
Numerous macroeconomic and microeconomic variables impact the plastic belting market in Europe. The increasing demand from industries such as construction, packaging, and logistics, where plastic strapping is essential for palletization, bundling, and securing products, is one of the key drivers. Its cost-effectiveness in comparison to steel belting serves as an additional incentive for businesses to implement it, while its adaptability and ongoing advancements address specific industrial requirements. Nevertheless, the market is confronted with constraints, including the fluctuation of raw material prices for polypropylene and polyethylene, which can result in an increase in production costs and a reduction in profit margins. Furthermore, the competition from alternative strapping solutions, such as steel and bio-based options, as well as stringent environmental regulations that are designed to reduce plastic pollution, present challenges.
The Plastic Strapping market was categorized into three segments based on thickness: Small (less than 0.5mm), Medium Duty (0.5mm - 1mm), and Large (more than 1mm).
The market was segmented into Narrow (less than 12mm), Medium (12mm - 19mm), and Wide (more than 19mm) by width. The Plastic Strapping market was segmented into Consumer Goods Packaging, Industrial Packaging, Logistics & Transport, Agriculture, and Other Application by application.
The consumer goods packaging segment is further divided into three categories: appliances, electronics, and other CG packaging. Alternatively, the Industrial Packaging segment is further classified into the following categories: Building Materials, Metal Products, Furniture, Paper & Printing, Textile & Clothing, and Other Industrial Packaging.
M.J. Maillis Group, Linder GmbH, Cordstrap, The FROMM Group, TEUFELBERGER, Cyklop, Mosca GmbH, FROMM Group, Embalcer, and Signode are the primary participants in the Plastic Strapping market.
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