According to the research report titled ‘Global Strapping Materials Market Size study with COVID-19 Impact, by Material (Steel, Polypropylene, Polyester), by Application (Food & Beverage, Industrial Logistics & Warehouse, Corrugated Cardboard & Paper, Newspaper & Graphics, Building & Construction, Metal) and Regional Forecasts 2020-2027‘, available with Market Study Report, global strapping materials market is expected to witness significant growth during 2020-2027.
 

Rising demand of medical devices, electronic gadgets, pharmaceutical services, textile goods, and household appliances owing to flourishing e-commerce are boosting the demand for advanced logistics, which is contributing to global strapping materials market growth. Notably, strapping materials have various beneficial properties such as high tensile strength, flexible elasticity, better elongation, and high-tension resistance, which makes them tremendously useful in packaging industries as well as for packaging of construction materials and metals. New innovations and convenience in packaging techniques, in consort with focus towards safety and appeal of product, better strength, and longer lifespan are stimulating global strapping materials market outlook. According to Euronews, Mondi Group, a leader in packaging & paper sector, witnessed growth of 19% in yearly profits in 2019 owing to high demand for strapping materials.

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Increasing prevalence of COVID-19 has caused a sharp decline in product supply and demand due to nation-wide lockdown and temporary shutdown of factories and industries, hence negatively impacting the industry growth. Despite that, strict government norms for sustainable manufacturing practices and amplifying export and import activities are expected to create lucrative opportunities for global strapped materials market players during the forecast period. Further, several advantages of strapping materials such as cost effectiveness, light weight, and product availability in range of thickness and width, enabling better functioning and managing of shipments for improved industrial logistics is impelling global strapped materials industry remuneration.

Based on regional analysis, Asia Pacific was the major contributor in terms of revenue for global strapping materials market in recent past and is anticipated to witness highest growth rate over 2020-2027, mainly due to escalating sales of goods including electronic gadgets, booming food & beverage sector, and rising demand for industry logistics in the region. Further, factors such as innovations in infrastructure and construction sector including advanced goods packaging will sway the business dynamics in APAC.
 

Major players operating in global strapping materials market include Polychem Corporation, MOSCA GmbH, The 3M Company, Signode Packaging Systems Corporation, Cyklop UK Limited, Titan Umreifungstechnik GmbH & Co. KG, Unipack Polyfoams Pvt. Ltd., Crawford Packaging, Plastofine Industries, and Dynaric Inc.