Global Strapping Tapes Market: Industry Development Scenario and Forecast to 2027
The global strapping tapes market can be segmented on the basis of adhesive, material, end-user and region. On the adhesive, it is sub-segmented into natural rubber and synthetic rubber. Natural rubber is anticipated to major sub-segment during the forecast period. The distinctive property of the natural rubber such as high tensile strength and high tear resistance is expected to be the major factor for the growth of the sub-segment during the forecast period. On the basis of material, it is sub-segmented into polyester, polypropylene, polyethylene and others. Polyethylene is anticipated to lead the sub-segment. The growth of the sub-segment is driven by the various properties of the polyethylene such as high flexibility, durability and tear resistant. On the basis of end-user, it is sub-segmented into electronics, kitchen appliances, food & beverages, automotive, furniture and oil & gas.
By region, global strapping tapes market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific is anticipated to lead the global strapping tapes market during the forecast period. This is on the account of the growing industrialization across the region coupled with the expansion of various industries such as food & beverages, automotive and electronics. Moreover, low cost of manufacturing and labor in the region is also another reason for the growth of the strapping tapes market in the region. North America is anticipated to witness considerable growth of the global strapping tapes market. The high disposable income of the population in the region is increasing the spending of the population.
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Increasing application of the strapping tapes by various end-user industries for packaging of items is anticipated to be the major reason driving the growth of the global strapping tapes market
The strapping tapes are primarily used by various industries in order to package the heavy items and it is also used for the better transportation of the goods. The rising expansion in the automotive industry especially in the developing regions leads to the increasing application of the strapping tapes. Moreover, the increasing expansion of the food industry across the globe is also anticipated to fuel the market growth of the global strapping tapes market.
The report titled “Strapping Tapes Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global strapping tapes market in terms of market segmentation by adhesive, by material, by end-user and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global strapping tapes market which includes company profiling of key companies such as 3M, TART, Global Packaging, Inc., Rapid Packaging Systems Ltd., Müroll GmbH, Shurtape Technologies, LLC and Can-Do National Tape. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global strapping tapes market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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