Polyester Strap for Manual Grade Market is Expected to Reach USD 1.29 billion by 2030 with at a CAGR of 8.15% By 2030 – Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Polyester Strap For Manual Grade Market Research Report Information by Type (Composite Strapping, Woven Strapping), By Thickness (Below 0.5 mm, 0.5 mm-0.75 mm to Above 1 mm), By Breaking Strength (Up to 220 Kg to Above 500 Kg), By Width (5 mm to Above 20 mm), By End-use-Industry (Food & Beverage, Pharmaceuticals & Allied Industries, Paper & Allied Industries, Textiles & Apparel, Chemicals & Fertilizers, Others), And By Region 2030
New York (US), May 01, 2023 (GLOBE NEWSWIRE) -- Polyester Strap for Manual Grades Industry Overview
The MRFR study reports imply that the “Polyester Strap For Manual Grades MarketResearch Report Information by Thickness, Width, Type, End-use-Industry, Region, and Breaking Strength - Forecast Till 2030”, the global Polyester Strap For Manual Grades market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 8.15%. The reports further predict the market will acquire nearly USD 1.29 billion by the end of 2030. As per the documents, the Polyester Strap For Manual Grades market was valued at nearly USD 0.64 billion in 2021.
Market Scope
The global Polyester Strap for Manual Grades industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the escalating demand for polyester Straps from the E-Commerce industry. Furthermore, the escalating demand for environment-friendly strapping solutions and durability is also considered to be one of the vital aspects causing a surge in market performance over the assessment era. PET straps mainly transport these materials from one place to another. Moreover, factors such as demand for eco-friendly & biodegradable solutions, positive outlook of e-commerce, and Rising usage of polyester straps for seatbelts are also projected to boost the market's development over the coming years.
The global Polyester Strap for the Manual Grades industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the escalating demand for polyester Straps from the E-Commerce industry. Furthermore, the escalating demand for environment-friendly strapping solutions and durability is also considered to be one of the vital aspects causing a surge in market performance over the assessment era. PET straps mainly transport these materials from one place to another. Moreover, factors such as demand for eco-friendly & biodegradable solutions, positive outlook of e-commerce, and Rising usage of polyester straps for seatbelts are also projected to boost the market's development over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Polyester Strap For the Manual Grades market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Segment Analysis
Among all the types, the Woven Strapping type segment secured the top position across the global market for Polyester Straps for Manual Grades in the year 2021 with the largest contribution of around 61%. The woven polyester strapping offers a high level of product strength and durability. Cross-woven polyester yarn strands are coated with cold glue to enhance this strap's rigidity and system strength.
Among all the thickness types, the 0.5 mm-0.75 mm segment led the global market in 2021, mainly given to PET straps, with thicknesses of 0.51 mm - 0.75 mm being more utilized than other straps. To handle medium to heavy loads in the industrial sectors, several straps are utilized for packaging. Therefore, the growing power of 0.5 mm-0.75 mm implants for Polyester Straps for Manual Grade is anticipated to enhance the segment's performance.
Among all the grade widths, the 5 mm to 15 mm width segment secured the leading position across the global Polyester Strap For the Manual Grades market.
Based on the Breaking Strength, the 301 to 500 Kg Breaking Strength segment led the global market in 2021 mainly due to the cross-country draws from one destination to another or multiple halts.
Among all the end-use industries, the Paper & Allied Industries end-use Industry segment secured the top position in the year 2021, given to the rising end-use Industry of Paper & Allied Industries implants.
The global Polyester Strap For Manual Grades market is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the Asia-Pacific region is anticipated to hold the top position across the global Polyester Strap For Manual Grades industry over the coming years, showcasing a substantial growth rate of around 6.25%. The main parameter supporting the development of the regional market is the presence of rapidly growing economies in the region. Furthermore, factors such as rising demand from end user industry in developing countries, the rising population, rapid expansion of the automobile industry, and growth in the e-commerce business are also projected to enhance the regional market performance over the coming years.
The North American regional market is anticipated to grow considerably during the review era, given factors such as low-cost strapping types, growing demand in key markets, rising preference for lightweight, and growing product demand from various application segments.
The European regional market is anticipated to grow rapidly over the coming years owing to the aspects such as the growth of the packaging industry, use in multiple applications, and a diversified array of business opportunities & services.
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