Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 787 Million | USD 1,000 Million | 6% | 2023 |
FrequentlyAsked Questions
PET strapping, also known as polyethylene terephthalate strapping, is a high-performing plastic strapping material that is utilized extensively in a slew of end-use sectors to offer bundled products.
The global PET strapping market's growth over the forecast period can be attributed to the extensive use of PET strapping in various end-use sectors such as construction, logistics, farming, and food and beverages.
According to a study, the global PET strapping industry size was $787 million in 2023 and is projected to reach $1,000 million by the end of 2032.
The global PET strapping market is anticipated to record a CAGR of nearly 6% from 2024 to 2032.
The North American PET strapping industry is set to register the fastest CAGR over the forecasting timeframe owing to the presence of key players in countries such as the U.S. Focus on providing sustainable packaging solutions will drive industry growth in North America.
The global PET strapping market is led by players such as OM Pack Strap, Merit Straps & Packaging Industries, Cyklop International, StraPack, Fromm International, Mayur Straps & Packaging Industries, Mayur Straps & Packaging Industries, Jairam International Pvt. Ltd., Signode Industrial Group, Rinku Plastic, Secure Polymers, Mosca, Titan Strapping, Linder GmbH, and Grip Strapping Technologies.
The global PET strapping market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, cash-benefit analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, factor analysis, and value chain analysis. It provides an apt scenario about demand and factor conditions in the country impacting the profitability of the firms in the domestic and international markets.
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