Plastic Straps Market Size to grow by USD 1717.6 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Plastic Straps Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. The industrial and consumer goods sectors are witnessing a surging demand for eco-friendly solutions, particularly in the packaging industry, leading to increased adoption of biodegradable plastic products. Bio-based plastic straps, fabricated from renewable resources such as sugarcane, wood pulp, soybean, coffee, castor plant seeds, corn, and other bio-based resins, are gaining significant traction. This trend is driven by the expanding scope of plastic straps in the industrial and consumer goods segment, as well as the growing imperative for effective waste management. The emergence of bio-based and renewable raw materials in emerging markets is projected to further fuel the applications of these sustainable alternatives.

Key Highlights

Growth Projections

The global plastic straps market  size is estimated to grow by USD 1717.6 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.52% during the forecast period. Emergence of polyester straps as viable option to steel strapping is driving market growth, with a trend towards emergence of bioplastics  However, growing concerns about degradability and pollution  poses a challenge.Key market players include Auto Strap India, CORDSTRAP BV, Crown Holdings Inc., Cyklop International, DuBose Strapping Inc., Duravant LLC, HANGZHOU YOUNGSUN INTELLIGENT EQUIPMENT CO. LTD., LINDER GmbH, Mitsubishi Chemical Group Corp., Mosca GmbH, PAC Strapping Products Inc., Plastex Extruders Ltd., Ruparel Polystrap Pvt. Ltd., S.K. INDUSTRIES INDORE, Samuel Son and Co. Ltd., Scientex Berhad, StraPack Corp., and Teufelberger Holding AG.

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Major Findings

• The plastic strapping market has witnessed a significant shift towards polyester straps as a viable alternative to traditional steel strapping. Polyester straps offer numerous advantages, including lightweight, flexibility, and resistance to moisture and chemicals. These straps are increasingly being adopted by various industries, particularly those dealing with perishable goods and automotive parts, due to their ability to provide reliable holding power while reducing overall logistics costs. The emergence of polyester straps as a competitive option in the strapping market is set to redefine industry standards and drive growth in the sector.


• The plastic straps market offers lightweight and cost-effective alternatives to traditional materials for various applications. These straps are known for their durability and versatility, making them a preferred choice for industries such as logistics, agriculture, and construction. Plastic straps are also easy to handle and require minimal maintenance, contributing to their growing popularity. Their affordability and reliability make them an essential component in numerous industries, ensuring efficient and secure transportation and storage solutions.


• The Plastic Straps Market is experiencing significant growth due to increasing demand for sustainable and eco-friendly packaging solutions. With growing concerns about plastic degradability and pollution, there is a heightened focus on the development of biodegradable and recyclable plastic straps. These innovative products not only address environmental concerns but also cater to the evolving consumer preferences towards more sustainable options. The market is expected to witness robust growth as businesses prioritize their corporate social responsibility initiatives and strive to reduce their carbon footprint.


• The Plastic Straps Market has experienced volatility due to fluctuations in the prices of raw materials. The cost of crude oil, a primary component in the production of plastic, significantly impacts the market. Other factors, such as supply and demand dynamics, exchange rates, and government regulations, also contribute to price instability. Producers must closely monitor these elements to maintain profitability and competitiveness.

Market Research Overview

The global specialty chemicals industry encompasses businesses specializing in high-value-add chemicals utilized in the production of a diverse range of products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by manufacturers focusing on high-value-added chemicals. Key growth drivers for the specialty chemicals market include the increasing preference for specialty adhesives and sealants, driven by the expanding demand for these products across various industries.

The Plastic Straps Market is experiencing significant growth, fueled by the Emergence of polyester straps as viable option to steel strapping. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Regional Insights

The Plastic Straps Market represents a significant business opportunity, with increasing demand driven by various end-use industries. These industries include packaging, automotive, construction, and agriculture. Key market trends include the shift towards eco-friendly and recycled plastic straps, as well as advancements in technology leading to stronger and more durable products. Companies in this market must stay abreast of these trends to remain competitive.

Research Analysis Overview

The Plastic Straps Market is witnessing significant growth in various industries such as Transportation, Brick industry, Housing industrial units, Healthcare, Logistics, and more. Plastic straps, available in various materials like Polyester and Polypropylene, offer superior durability compared to traditional metal straps. High-strength polymers used in manufacturing plastic straps ensure secure and efficient bundling of goods. Moreover, advancements in technology have led to the development of IoT-enabled systems and real-time monitoring, making plastic straps more attractive for industries. Automated strapping machines and sustainable RFID tags, like those offered by AD Pure, further enhance the functionality of plastic straps. The Fiber, Cotton, and Steel industries also benefit from plastic straps in the form of woven straps, corded straps, composites straps, paper straps, nylon straps, polypropylene straps, and polyester straps. Biodegradable plastic straps are gaining popularity in the market due to their eco-friendly nature. Inlays and other additives, like those used in AD Pure's strapping solutions, add value by providing additional features such as improved grip and UV protection. Overall, the Plastic Straps Market is poised for continued growth in the coming years.

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