PET Strap Manufacturing Business. Production of Poly Ethylene Terephthalate Strap
PET Straps is known for its impact resistant and thus is widely used in different industries for packaging purposes. These PET Strap are anti-slit & do not break in between. Used with the right tools these Straps provide unmatched strength to replace steel strap.
PET strap is the commonly used thermoplastic polymer resin in the family of polyester strapping. It is primarily used for transportation of packaging materials, clothing, liquids & foods, building materials, and containers. PET strap is formed by the method, wherein a strap or polyester sheet is put through stretching steps with a specific stretch ratio.
Characteristics of PET strap include corrosion-resistance, high shock absorption ability, recyclability, high tensile strength, tear resistance, and elasticity. In terms of long term usage, this strap is highly vigorous and UV light resistant. PET strap is a less expensive alternative to steel strap as it has lower strength packaging requirements.
- Abrasion resistance
The global polyester straps market is estimated to be valued at US$ 693.7 Mn in 2017 and is anticipated to register a CAGR of 7.2% during the forecast period to reach US$ 1,388.6 Mn by the end of 2027. In terms of volume, the global polyester straps market is estimated at 564.3 ‘000 tonnes in 2017 and is expected to exhibit a CAGR of 6.6% during the forecast period, to reach 1,073.8 ‘000 tonnes by the end of 2027.
Demand for metal sheets, iron rods, film rolls, timbers, cables, and textiles has been increasing at a rapid pace. PET straps are primarily used in transportation these materials from one place to another. They prevent these materials from getting damaged. PET straps are light in weight and cost effective vis-à-vis steel straps. There are factors driving the PET strap market. PET straps are primarily made from recycled PET. Thus, they provide environment-friendly strapping solution.
Global Polyester Straps Market Share (%), By Region (2017)
The global polyester straps market is segmented into its application, type of material, and geography. On the basis of application, the market is divided into building material and wood, industries and pelletization. Building material and wood are further sub-divided into plywood, timber, plastic boards, and roofing tiles. Industries further include leather, textile, paper, glass and ceramics, and iron and steel. Subdivision of pelletization is seen into bottles and cartons. Based on the type of material, the market is segregated into polypropylene and polyethylene terephthalate. On the basis of geography, the market is diversified into Europe, Latin America, North America, Asia-Pacific, and the Middle East and Africa.
Major players operating in the global PET strap market are S & K Packaging Industries, North Shore Strapping Inc., Ruparel Polystrap Pvt. Ltd., Consent LLC., Auto Strap India, Linder GmbH, Plastic Extruders Ltd., Narrowtex Pty (Ltd.), and Signor Polymers Pvt. Ltd.
Indian PET Straps Market
PET straps are largely used by the cotton industry, which accounts for a 45% share, followed by automotive, appliance, and others. India has about 30 manufacturers, with the western region being the principal supplier. The market is expected to record a high CAGR of 14% from 2015 to 2020.
PET Straps has been the third largest market of recycled PET Industry in terms of revenues, while it has been the second largest market in terms of production volume.
Strapping Materials Market
The strapping materials market in U.S. was valued at USD 968.0 million in 2016 and is anticipated to register a CAGR of 6.3% from 2017 to 2025. Rise in demand from the food and beverage industry followed by continuous innovation in food and beverage packaging in U.S. is expected to boost market growth. The growth of packaged food in U.S. on account of the on-the-go lifestyle of consumers is expected to promote the packaging industry.
Demand for strapping materials will be driven by growth in industries such as food and beverages, industrial logistics and warehouse, and corrugated cardboard and paper in developed economies including U.S., Germany, and U.K.
There is rising awareness among consumers regarding sustainable and environment-friendly packaging. Consumers also expect innovative designs from manufacturers of corrugated cardboard and paper, which will eventually boost the application segment over the forecast period. However, these materials lack the ability to protect products from damage resulting from rain, frost, or moisture. This may pose a challenge to the growth of this segment.
U.S. Strapping Materials Market, By Application, 2014-2025 (USD Million)
There has been a rise in demand for consumer electronics, household appliances, pharmaceutical products, medical devices, and textile goods, which is projected to result in an increase in demand for strapping material as a suitable packaging material. Growth in mail orders and the logistics business, along with expansion of the e-commerce industry, is projected to further boost the demand for strapping materials.
The increasing demand from end-use industries owing to rapid globalization and industrialization is driving the market growth. Additionally, the growing packaging industry and rising demand of strapping material across consumer electronics, household appliances, pharmaceutical products, medical devices, and textile goods are further fuelling the market growth. Furthermore, increasing use of plastic strapping due to its high break strength, elongation & recovery, and ability to withstand high tension are expected to offer a new growth opportunity to the market.