Raffia Tape Stretching Line Market Size, Share, Trends, Growth 2030

Raffia Tape Stretching Line Industry Prospective:

The global raffia tape stretching line market size was worth around USD 6312.2 Million in 2022 and is predicted to grow to around USD 11745.5 Million by 2030 with a compound annual growth rate (CAGR) of roughly 8.24% between 2023 and 2030.

The report analyzes the global raffia tape stretching line market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the raffia tape stretching line industry.

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Raffia Tape Stretching Line Market: Overview

Raffia tapes are flat and thin ribbons that are made using Raffia which is a type of palm tree. The industry refers to the equipment and machinery used for the production of raffia tapes. The original palm tree is a common material used in various end-user verticals like the production of sacks, woven bags, and other packaging units. The raffia tape stretching line machinery is utilized to orient and stretch the raffia tape fibers resulting in the production of high-quality tape that exhibits excellent strength making it more suitable for other applications. The machine is made of heating zones and a series of rollers that work together to stretch the fibers until they reach the desired level of strength and thickness. The industry is currently experiencing high growth due to multiple end-user applications of the product.

Key Insights: 

• As per the analysis shared by our research analyst, the global raffia tape stretching line market is estimated to grow annually at a CAGR of around 8.24% over the forecast period (2023-2030)
• In terms of revenue, the global raffia tape stretching line market size was valued at around USD 6312.2 million in 2022 and is projected to reach USD 11745.5 million, by 2030.
• The market is projected to grow at a significant rate due to the growing demand for sustainable packaging
• Based on output capacity segmentation, 51–450 kg/hr was predicted to show maximum market share in the year 2022
• Based on machine type segmentation, an extruder with “T” die was the leading type in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Raffia Tape Stretching Line Market: Growth Drivers

Growing demand for sustainable packaging to drive market growth

The global raffia tape stretching line market is projected to grow owing to the rising demand for sustainable packaging solutions. With the rising concerns over the growing impact of industrialization and urbanization on the environment, the demand for sustainable packaging solutions is at an all-time high. The packaging industry is one of the largest environmental polluters mainly due to the immense amount of non-biodegradable substances used as solutions. For instance, plastic and its different types. Raffia tape has recently become a popular choice amongst manufacturers since it is biodegradable and manufactured using renewable sources. This benefits the producer and the environment along with the consumer. Along with this, raffia tapes are gaining extreme popularity in agricultural applications where they are used for packaging materials like fruits, vegetables, grains, and other materials. As the demand for food products across the globe is rising at a rapid rate, the industry can expect higher returns.

Raffia Tape Stretching Line Market: Restraints

Growing competition from alternatives to restrict market expansion

The global raffia tape stretching line industry may witness certain roadblocks owing to the growing popularity of alternatives present in the packaging industry. Some of the solutions, although not environmentally friendly, are more operational and cost-effective. The more popular substitutes are cardboard, paper, and bioplastics. As the availability and accessibility of alternative solutions are growing, the industry players may face significant loss of revenue. In addition to this, the high cost of initial investment could further restrict market growth, especially for medium-sized and small-sized firms.

Raffia Tape Stretching Line Market: Opportunities

Rising investments and inclination toward automation could provide more growth opportunities

The manufacturing industry is witnessing a rising shift toward automation since it not only improves the overall operational and production value for the company but allows human resources to invest their time in more valuable tasks. With the rapid rate at which automation is being incorporated into the global raffia tape stretching line industry, the businesses operating in the segment are expected to witness better expansion and collaboration opportunities. Manufacturers can invest in providing automated machinery to their clients and collaborate with service providers to encourage research and innovation.

Raffia Tape Stretching Line Market: Challenges

Fluctuating prices of raw materials to challenge market growth

The main raw material used in the production of raffia tapes is Raffia palm trees which are highly price sensitive since the cost depends on several social, economic, and political factors of the trading countries. Furthermore, the production of Raffia palm trees is subject to changing and unpredictable weather conditions thus impacting the continuous and smooth supply chain. Manufacturers are thus vulnerable to profit-dip in the coming years.

Raffia Tape Stretching Line Market: Segmentation

The global raffia tape stretching line market is segmented based on machine type, output capacity, and region.

Based on machine type, the global market segments are hot air oven with stretching unit, extruder with “T” die, inverter cheese winder, and take up nip roll withholding unit. The industry is expected to register the highest growth in the extruder with “T” die segment. Extrusion is one of the foremost processes through which raffia tapes are manufactured and “T” die is crucial to the extrusion process. This mechanism offers several advantages over other methods. Some of these benefits are excellent tape quality, a high production rate, and better versatility. The other segments are also crucial to market growth but the majority of revenue is from the extruder with “T” die segment. On average, the cost of the machine can range between USD 50,000 to USD 100,000.

Based on output capacity, the raffia tape stretching line industry divisions are 700 g/hr, 451–700 kg/hr, 151–450 kg/hr, and 80–150 kg/hr. The industry witnessed the highest CAGR in 151–450 kg/hr segment in 2022 since it is an ideal capacity range for small to medium-sized firms. It can meet the operational and production requirements of most of the players and end-user verticals like packaging solution providers for consumer goods, food, and agricultural materials. However, the choice of capacity depends on the final needs and production requirements. Madagascar deals with close to 70% of the global production capacity of Raffia Palm trees.

Recent Developments:

• In December 2022, SIBUR, a Russian petrochemicals company, started the manufacturing of PP (Polypropylene) grades which will assist in the production of Raffia, especially PP H063FF/3 and PP H043FF/3. The products are expected to promote performance stability and equipment performance while being applied to high-speed manufacturing of Raffia tape for packing big bags
• In November 2022, Umasree Texplast, an Indian company, announced entering a joint venture with Packem, a Brazilian company. The partnership will work toward the production of Flexible Intermediate Bulk Container (FIBC) Jumbo Bags that are eco-friendly. In the joint venture, Umasree holds 49% of the equity
• In February 2021, OQ, a global giant, announced the launch of its much-anticipated homopolymer PP grade, Luban HP 1102LC which can be used to produce high-speed raffia tapes at lower processing temperatures and improved speed line

Raffia Tape Stretching Line Market: Report Scope:

Raffia Tape Stretching Line Market: Regional Analysis

China to propel the Asia Pacific regional market growth

The global raffia tape stretching line market is expected to witness the highest growth in Asia-Pacific with China acting as the major contributor. One of the major factors contributing to regional growth is the already existing excellent manufacturing infrastructure of the country. It boasts one of the finest, most advanced, and most automated manufacturing sectors across the world. There are several companies that specialize in the production of raffia tapes thus leading to more requirements for associated machinery. In addition to this, the country leaders are consistently promoting higher production of raffia tapes for higher end-user applications. India is also a significant contributor to the regional market owing to the recent surging interest in Raffia palm trees and related products. A key point to consider is that the global industry is highly fragmented and competitive and several other countries also have strong contributions to the global sales volume.

Raffia Tape Stretching Line Market: Competitive Analysis

The global raffia tape stretching line market is led by players like:

• Starlinger & Co. Gesellschaft m.b.H.
• Polystar Machinery Co. Ltd.
• Bandera Luigi Costruzioni Meccaniche S.p.A.
• Hengyang Huayi Machinery Co. Ltd.
• Ruian Xinye Packaging Machine Co. Ltd.
• Kung Hsing Plastic Machinery Co. Ltd.
• Zhejiang Tianfeng Plastic Machinery Co. Ltd.
• Qingdao Leader Machinery Co. Ltd.
• SML Maschinengesellschaft mbH
• Lohia Corp Limited
• J P Industries
• Windmöller & Hölscher KG
• Chyi Yang Industrial Co. Ltd.
• Jinhu Group.

The global raffia tape stretching line market is segmented:

By Machine Type

• Hot Air Oven With Stretching Unit
• Extruder With “T” Die
• Inverter Cheese Winder
• Take Up Nip Roll Withholding Unit

By Output Capacity

• 700 g/hr, 451–700 kg/hr
• 151–450 kg/hr
• 80–150 kg/hr

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa