Transparency Market Research
PET Strap Market: Introduction
PET Polyester Strap is produced from environment protective “Polythene Terephthalate “material or pet chips. Being a substitute of steel strap it is used with manual strapping tool through clip sealing or battery operated pet strap sealing tool. Unlike the traditional strapping method, polyester strapping absorbs shocks and impacts during transportation. 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
PET Strap Market: Market Segmentation
Based on type, the PET strap market can be bifurcated into embossed PET strapping and smooth PET strapping. In terms of end-use industry, the market can be segregated into wood industry, paper industry, food & beverage industry, textile industry, and others. The wood industry segment can be further sub-divided into plywood, timber, and others.
PET Strap Market: Overview
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.
PET Strap Market: Regional Outlook
In terms of region, North America dominates the PET strap market owing to the rapid expansion in the automobile industry in the region. PET straps are also used on a large scale in the logistics sector in North America. In terms of volume, Europe is also expected to be a key region of the PET strap market in the near future. Asia Pacific is estimated to be a rapidly growing region of the market in terms of volume during the forecast period. Latin America, especially Brazil, is projected to be a significant user of PET strap market in the next few years.
PET Strap Market: Key Players
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.
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