PET Strap Market: Adoption of Cordless PET Straps Technology in PET Strap Manufacturing is Driving the Demand: Trends and Forecasts 2024-2030

Global PET Strap Market size was valued at USD 794.41 Million in 2023 and the total PET Strap Market is expected to grow at a CAGR of 6.63% from 2024 to 2030, reaching nearly USD 1245.09 Million.

PET Strap Definition: 

PET strap is a type of plastic strapping made from polyester (PET), which is known for its high tensile strength, low elongation, and excellent resistance to chemicals, UV rays, and heat. PET straps are mainly used to secure heavy loads for transport and storage, and also becoming increasingly popular as a replacement for steel straps.
PET Strap Market Overview:
PET straps are mainly made from recycled PET, which provide environment-friendly strapping solution. The many start-ups have been active in strapping by recognizing the benefits of the strapping technology. Some of the leading players like Strapack Inc., Mosca, are deploying PET strapping materials which can sustain loads ranging in between 396 lbs (0.18 tons) and 1322 lbs (0.60 tons). Prominent key players are opening their freeways to strapping with its high elongation and elastic properties. Also, with an attempt to gain a competitive edge in the market, the key players are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, expansion, new product launches, diversification and investing large amounts in R&D to develop innovative solutions.To know about the Research Methodology :- Request Free Sample Report

For instance, Mosca GmbH has introduced a new high-performance sealing unit specially for heavy products logistics and transportation. The established players in the PET strapping market are expected to put pressure on the new entrance companies through lower pricing strategy, reducing costs, and providing new value propositions to the customers. An increase in consumer’s preference along with the green regulations from the FDA are promoting sustainable packaging solutions in the food industry. The one of the factors that ensured packaging demand growth is the environmental protection trend.

PET Strap Industry Recommendation:

The business climate is constantly changing across the globe. Polyethylene terephthalate strapping is widely used for securing the load in timer transport. There are several reasons for the advance of polyester strapping, which offer high tensile strength.  The PET strapping has high demand for end user industries, thanks to its significantly higher elasticity.  An increase in consumer’s preference along with the green regulations from the FDA are promoting sustainable packaging solutions in the food industry. The one of the factors that ensured packaging demand growth is the environmental protection trend.

Sustainability has always been a key driving force in the innovation and development of technology. Time to switch to sustainable strapping are encouraging to key players to invest in the PET strapping production business. Resourcefulness and collaborative approach have considered to drive the investments scenario in the market, which are advocating for greater resources and investing more to gain competitive benefits by key players. Moreover, mobilization of investment support from manufacturers and R&D expenditure for introduction of innovative solutions are expected to recommend that help to adhere the cash inflows in the market.

With sustainability focus for the packaging industry, there have been many innovations when it comes to the production usage of existing equipment, with one of the innovative additions is the recyclable PET strap. The benefits of replacing regular straps with PET straps are helping to save the environment from the detrimental effects of plastic. The production process results with the lower carbon emissions are offering key opportunities for new entrance key players in the market. The important aspect of the PET strapping sector is sustainability, and staying on top of market trends in the area of logistics and warehousing.

Many companies are focusing primarily on their own products for packaging solution at the end of finishing goods products when considering the topic of sustainability. The revolutionary PET strapping is designed to work with automatic and semi-automatic machines and friction weld tools.

Many market key players have to take considerations regarding with various federal, state, local and international laws governing the environment like the storage, use, discharge, disposal, product composition and hazardous and toxic materials. In the event of an accident involving such materials, they should be liable for damages. Key players are facing complexity in their production and procurement operations because of the evolving nature of environmental compliance regulations and standards and specific customer compliance requirements.
PET Strap Market Dynamics:
High demand from end-use industries is expected to drive the production of the PET Strap.

PET straps are used in a wide variety of industries, including food and beverage, pharmaceutical, automotive, logistics, and construction. Growth in mail orders and logistics, as well as the growth of the e-commerce industry, are expected to drive up demand for strapping materials. The PET Strap market is growing thanks to increased demand from end-use industries as a result of rapid globalization and industrialization.

The growth in the packaging industry and demand for strapping material in consumer electronics, household appliances, pharmaceutical products, medical devices, and textile goods are some of the prominent factors behind the PET Strap market growth. Additionally, the increasing use of plastic strapping and its benefits like high break strength, elongation, and recovery, and ability to withstand high tension is expected to open up a new market opportunity for the end users.

Rapid Expansion of the Building and Construction Sector is expected to drive the adoption of the PET Strap.

Plastic straps are preferred over paper straps for building materials packaging because they have greater elasticity and weather resistance, and perform well under shock loading. PET straps are used to bundle and strap building materials, such as lumber, pipes, and rebar. This makes it easier to transport and store building materials. Increasing urbanization and rising disposable incomes are leading to a growing demand for housing and commercial space, which is driving the demand for PET straps used in the construction. Government investments in infrastructure projects are also boosting the demand for PET straps, as they are used in a variety of applications in infrastructure construction, such as bundling and strapping of building materials, securing loads during transportation, reinforcing concrete structures, wrapping pipes and cables, and packaging and distributing construction materials.

PET straps offer a number of advantages over traditional strapping materials, such as steel and polypropylene, such as being lightweight, durable, resistant to moisture and chemicals, and easy to use, which are making PET straps a popular choice for a wide range of applications in the building and construction sector. According to the U.S. Census Bureau, the total construction spending in 2023 was $1.98 trillion at a seasonally adjusted annual rate. This is a 7.4% increase from the 2021 construction spending of $1.84 trillion.

The Advantages of Pet Strapping Is Expected to Gain Traction During The Forecast Period

The business climate is constantly changing across the globe. Polyethylene terephthalate strapping is widely used for securing the load in timer transport. There are several reasons for the advance of polyester strapping, which offer high tensile strength.  The PET strapping has high demand for end user industries, thanks to its significantly higher elasticity.  If new entrants make significant investments and build their position as a PET strapping provider, they will eventually lead to strong rivalry in the global PET strapping market during the forecast period. New entrants are expected to form their robust footprint across the globe by following number of federal, state, local and multi-national regulations related to packaging, pricing, marketing and advertising.

In addition, new entrants are expected to contribute significant share in the market by building capacities and spending money on research and development. On the other hand, a fluctuation in the prices of raw materials is expected to limit the production of PET strapping market growth.  The prices of raw materials are based on the adverse weather, the economy, and other conditions. Also, inability of any supplier of raw materials, independent co-packer or third-party distributor to deliver or perform in a timely or cost-effective manner are expected to impact negatively and reduces the profit margins.

Fluctuating Raw Material Prices are expected to hamper the PET Strap Market

PET straps are made from PET resin, which is derived from petroleum. The price of PET resin is volatile and can fluctuate due to a number of factors, including the global oil price, supply and demand dynamics, and government regulations. When the price of PET resin increases, it leads to an increase in the cost of producing PET straps that can put pressure on the profitability of PET strap manufacturers and lead to an increase in the price of PET straps. The fluctuating prices of PET resin are expected to lead to uncertainty in the PET strap market that make it difficult for PET strap manufacturers and consumers to plan for the future.

Recent Advances in the Strap material is expected to offer key opportunities for the key players operating in the PET strap Market

Researchers are developing new PET strap materials with improved properties, such as higher strength, durability, and resistance to chemicals and extreme temperatures. These new materials are expected to expand the range of applications for PET straps and make them more suitable for use in demanding environments. Nanotechnology is being used to develop new PET strap products with enhanced properties, such as self-healing straps and straps with built-in sensors. These new products are expected to offer significant advantages over traditional PET straps and create new opportunities for PET strap manufacturers. New manufacturing technologies are being developed to produce PET straps more efficiently and cost-effectively.

These new technologies are expected to reduce the cost of PET straps and make them more competitive with other strapping materials. Signode is developing new PET strap materials with improved strength and durability. The company is also developing new PET strap products with integrated sensors to monitor the condition of the straps and the goods being secured. ORBIS is developing new PET strap materials with improved resistance to chemicals and extreme temperatures. The company is also developing new PET strap products with self-healing capabilities. Berry Global is developing new PET strap manufacturing technologies to reduce the cost of production and improve the efficiency of its operations. The company is also investing in research and development to develop new PET strap materials with improved properties.
PET Strap Market Segment Analysis:
Based on Type, The Embossed PET Strapping segment of the PET Strap market is expected to grow at the fastest CAGR of 6.5% during the forecast period. Embossing adds friction and texture to plastic strapping. An embossing creates a diamond-shaped texture on the plastic strapping during the strapping extrusion process. Embossed PET strapping is a type of PET strapping that has a diamond-shaped pattern embossed on its surface.

This pattern enhances the friction and texture of the strapping, which improves its grip on the goods being secured. Embossed PET strapping is also more resistant to slipping than traditional PET strapping. Increasing demand for embossed PET strapping from the food and beverage industry, popularity of embossed PET strapping in the pharmaceutical and automotive industries. demand for sustainable packaging solutions, awareness of the benefits of embossed PET strapping like its enhanced friction and texture are some of the factors that are expected to increase the demand for Embossed PET Strapping.

Based on the Application, PET Strap market is segmented into food and beverage, construction and building, wood, paper and allied industries, textile & apparel and other. The food and beverage industry are the largest consumer of PET strapping, accounting for more than 30% of the global market share. The high demand for PET strapping in the food and beverage industry for palletizing, unitizing, and bundling of products are driving the demand for PET strapping in the food Industry. PET strapping is also used in the food and beverage industry to secure loads during transportation and storage.

PET strapping is used to secure loads of food and beverage products during transportation. This helps to prevent the loads from shifting and falling during transportation. PET strapping is used to wrap bales of food and beverage products, such as hay and straw. This helps to protect the products from damage and contamination. PET strapping is used to close and secure food and beverage containers, such as drums and boxes that helps to prevent the containers from opening and leaking during transportation and storage. PET strapping is a popular choice for the food and beverage industry because it is strong, lightweight, and resistant to moisture and chemicals. It is also recyclable, which makes it a sustainable packaging solution.
PET Strap Market Regional Insights:
Asia Pacific Region is projected to be leading region in the PET Strap Market.

The Asia Pacific region held the dominant share in the PET strapping market with a share of more than 40% and projected to continue its dominance during the forecast period. The rapid economic growth and urbanization in the Asia Pacific region has led to an increase in the demand for food and beverage, pharmaceutical, and other products that are packaged and transported using PET strapping. Government regulations in some Asia Pacific countries are promoting the use of sustainable packaging solutions. This is driving the demand for PET strapping in the region.

China is the largest market for PET strapping in the Asia Pacific region. India, Japan, South Korea, and Australia are other major markets for PET strapping in the region. The Asia Pacific PET strapping market is expected to remain competitive during the forecast period. The key players in the market are focusing on developing new and innovative PET strap products and solutions. They are also expanding their manufacturing and distribution networks to meet the growing demand for PET strapping in the region. The key players in the Asia Pacific PET strapping market include Signode Industrial Group, ORBIS, Berry Global, Titgemeier GmbH & Co. KG, Strapex, FROMM Packaging, HSM GmbH & Co. KG, Polychem, JAIRAM INTERNATIONAL PRIVATE LIMITED, Patel Strap Private Limited, and Rinku Plastic. These companies are offering a wide range of PET strap products and solutions to meet the needs of the various end-use industries in the region.

The New Zealand PET strapping market is a relatively small market, but it is growing steadily. The market is expected to grow at a CAGR of 6.8% from 2024 to 2030. The New Zealand PET strapping size was valued at a USD 8916.67 Thousand. In which, Embossed PET Strapping segment was valued at a USD 6049.07 Thousand with a share of 67.84 in the total New Zealand market. The food and beverage industry is the largest consumer of PET strapping in New Zealand, which is used to secure pallets and bundles of food and beverage products during transportation and storage. The Food and Beverage industry held the more than 30% share and was valued at a 2680.35 thousand. Businesses in New Zealand are increasingly focusing on sustainability and are looking for sustainable packaging solutions. This is expected to boost the demand for PET strapping, as it is a sustainable packaging solution.

The food and beverage industry held the dominant position with a share of 31.47% in PET strap market in Australia. PET strapping is also gaining popularity in the pharmaceutical and automotive industries in Australia. PET straps are lightweight, durable, and resistant to chemicals, making them ideal for securing pharmaceutical and automotive products during transportation and storage. The Australian PET strapping market is a growing market with a number of opportunities for growth. The market is being driven by a number of factors, including increasing demand from the food and beverage industry, growing popularity in the pharmaceutical and automotive industries, and rising demand for sustainable packaging solutions. The market faces a number of challenges, such as competition from other strapping materials and lack of awareness
PET Strap Market Scope: Inquiry Before Buying



Global PET Strap Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 794.41 Mn.


Forecast Period 2024 to 2030 CAGR:
6.63%
Market Size in 2030:
US $ 1245.09 Mn.


 Segments Covered:
by Type
Embossed PET Strapping
Smooth PET Strapping


by Width
5-15 mm
16-25 mm
26-35 mm
Above 35 mm


by Application
Palletizing
Heavy Duty Bailing
Bundling


by End-user
Food and Beverage
Construction and Buildig
Wood
Paper and Allied Industries
Textile & Apparel
Other



PET Strap Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
PET Strap Market, Key Players are
1. Teufelberger
2. Samuel Strapping
3. FROMM Packaging Systems Inc
4. Mosca GmbH
5. GREENBRIDGE ( previous name polychem corp)
6. Industrial Yarns Pty Ltd
7. Messersi Packaging
8. Auto Strap
9. PAC Strapping
10. North Shore Strapping Inc.
11. Ruparel Polystrap Pvt Ltd.
12. Consent LLC.
13. Linder GmbH
14. Plastic Extruders Ltd
15. Narrowtex Pty (Ltd.)
16. Signor Polymers Pvt Ltd.
17. Signode
18. Cordstrap
19. M.J.Maillis Group
20. Patel Strap Manufacturing
21. Tianli

Frequently Asked Questions:

1] What segments are covered in the Global PET Strap Market report?
Ans. The segments covered in the PET Strap Market report are based on Type, End-Use Industry, width and Region.

2] Which region is expected to hold the highest share in the Global PET Strap Market?
Ans. The Asia Pacific region is expected to hold the highest share of the PET Strap Market.

3] What is the market size of the Global PET Strap Market by 2030?
Ans. The market size of the PET Strap Market by 2030 is expected to reach US$ 1245.09 Mn.

4] What is the forecast period for the Global PET Strap Market?
Ans. The forecast period for the PET Strap Market is 2024-2030.

5] What was the market size of the Global PET Strap Market in 2023?
Ans. The market size of the PET Strap Market in 2023 was valued at US$ 794.41 Mn.