The major growth drivers identified in the plastic straps market is the growing packaging and logistic sector and expanding construction industry. With the growing industrialization and commercialized in developing parts of the world, there has been a rapid rise in the logistics and transport requirements in order to facilitate the movement of these goods.
Growing demand for strapping materials from emerging economies are expected to offer growth opportunities for plastic straps market. Countries such as China, and India are witnessing rapid rise in the construction and packaging industry.
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Expanding construction industry is another key growth factor for the plastic straps market. The construction industry in the world is witnessing rapid rise, particularly in countries such as China, India, Saudi Arabia, Indonesia, and others.
One of the major restraint in the plastic straps market include susceptibility of these straps to environmental factors. These straps, being non-biodegradable in nature has negative environmental implications. Improper handling and disposal of these straps post its usage can result in plastic generated waste, which in turn, will have severe environmental consequences including land pollution.
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Some of the major players operating in the global plastic straps market are Crown Holdings, Inc., Polychem Corporation, Teufelberger Holding AG, FROMM Group, Messersì Packaging S.r.l., DuBose Strapping, PAC Strapping Products, Inc., Auto Strap India, and LINDER GmbH, and Cyklop Nederland BV.
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