The Europe Strapping Materials Market would witness market growth of 3.8% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 964.5 Kilo Tonnes, showcasing a growth of 3.4% (2019-2022).
The demand for strapping material as a suitable packaging material is anticipated to increase with the demand for consumer electronics, home appliances, pharmaceuticals, medical devices, and textile goods. The expansion of the e-commerce sector, postal order growth, and the logistics industry are expected to contribute to an additional surge in demand for fastening materials.
Plastic strapping is a durable alternative to conventional packaging in the food and beverage industry, namely glass, aluminum, and tin. The flexibility of plastic allows manufacturers to customize shape, size, and any other specification as per the packaging requirement of a customer. Plastic strapping also helps save packaging space compared to conventional packaging. It also offers damage protection as it is compliant with cargo securement standards defined by regulatory bodies.
According to Destatis, in Germany, the total of building permits in 2023 is 217,586, with a turnover of 344,878 million euros. The issuance of building permits implies increased construction projects and, consequently, higher demand for these materials to bundle and secure construction materials such as lumber, pipes, and metal components during transit. Therefore, the factors mentioned above will propel the market growth in this region.
The Germany market dominated the Europe Strapping Materials Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $540 Million by 2030. The UK market is exhibiting a CAGR of 2.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 4.6% during (2023 - 2030).
Based on Product, the market is segmented into Polypropylene (PP), Steel, and Polyester (PET). Based on Application, the market is segmented into Industrial Logistics & Warehouse, Corrugated Cardboard & Paper, Food & Beverage, Newspaper & Graphics, Building & Construction, and Metal. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Strapping Materials Market will Hit $8.9 Billion by 2030, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cyklop GmbH, UNIPACK Pte Ltd., Mosca GmbH, Burlan Manufacturing LLC, Greenbridge (The Sterling Group, L.P.), Signode Industrial Group LLC (Crown Holdings Inc.), StraPack, Corp., TITAN Umreifungstechnik GmbH & Co. KG (PW Lenzen GmbH & Co. KG), 3M Company and Samuel, Son & Co., Ltd.
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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