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Description
The global strapping materials market estimated to be valued US$ 987.0 million in 2021 and poised to grow at significant CAGR of 6.6% over 2021-2027. Growth of numerous industries including building & construction, food & beverage has created a strong base for various manufacturers operating in strapping materials market. These industries are growing at a fast stride. Strapping material are any material which aids for strapping and packing of the goods and materials during transportortation. The market for strapping materials is predictable to multiply at a rapid speed due to industrial developments and manifestation of various businesses, which requires effective logistics. The typical strapping materials find a wide range of applications in steel, woven cords, and plastics. However, fluctuation in the cost of materials poses severe threat to the market. Global market report gives comprehensive outlook on strapping materials across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. This report studies global Strapping Materials market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global Strapping Materials market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Consumer electronics, domestic appliances, pharmaceutical products, medical devices, and textile goods have all seen a growth in demand, which is expected to lead to an increase in demand for strapping material as a packaging material. The rise of the e-commerce industry, as well as growth in mail orders and logistics, is expected to drive up demand for strapping materials.
