The market for polyester straps is anticipated to reach US$ 1,389 Mn by 2027, at a CAGR of 7.4% from 2022 to 2027, from an estimated US$ 973 Mn in 2022.
According to the analysis of the packing grade type, hand-grade polyester straps will make up nearly 58% of polyester straps sold in 2022, making them the most well-known packing grade type worldwide.
Bundling and palletizing applications are predicted to hold a 90% market share of the worldwide polyester straps market over the estimated period, according to the application-wise analysis.
Between 2022 and 2027, it is anticipated that North America and Asia-Pacific will hold close to 50% of the market share.
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Global Polyester Straps Market: Segmentation and Forecast
The report segments the global polyester straps market on the basis of packing grade, width, break strength, thickness, application and on the basis of end use industry.
- The machine grade segment is estimated to be valued at US$ 290 Mn in the year 2022 and is slated to reach a value of US$ 576.4 Mn in the year 2027, exhibiting a CAGR of 7.1% during the period of assessment.
- The 5-15 mm width type segment is estimated to be valued at US$ 3 Mn in the year 2022 and is poised to reach a value of US$ 442.2 Mn in the year 2027, displaying a CAGR of 6.9% during the forecast period.
- The 300-500 kg break strength type segment is estimated to be valued at US$ 175.6 Mn in the year 2022 and is slated to reach a value of US$ 365.1 Mn in the year 2027, exhibiting a CAGR of 7.6% during the assessment period.
- The less than 0.50 mm thickness type segment is estimated to be valued at US$ 97.8 Mn in the year 2022 and is poised to reach a value of US$ 186.6 Mn in the year 2027, displaying a CAGR of 6.7% during the forecast period.
- The heavy duty bailing and others application type segment is estimated to be valued at US$ 73.4 Mn in the year 2022 and is slated to reach a value of US$ 140.8 Mn in the year 2027, exhibiting a CAGR of 6.7% during the period of assessment.
- The paper and allied products end use industry segment is estimated to be valued at US$ 98 Mn in the year 2022 and is poised to reach a value of US$ 179.3 Mn in the year 2027, exhibiting a CAGR of 6.2% during the forecast period.
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Global Polyester Straps Market By Category
By Thickness:
o Below 0.5mm
o 0.5mm-0.75mm
o 0.76mm-1mm
o Above 1mm
By Packing Grade:
o Hand Grade Polyester Straps
o Machine Grade Polyester Straps
By Width:
o 5mm-15mm
o 16mm-25mm
o 26mm-35mm
o Above 35mm
By Breaking Strength:
o Up to 220kg
o 221kg to 300kg
o 301kg to 500kg
o 501kg to 1,000kg
o Above 1,000kg
Global Polyester Straps Market: Regional Forecast
Future Market Insights tracks the performance of the global polyester straps market across the key geographies of North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa. As per the forecast of Future Market Insights, North America polyester straps market is estimated to be valued at US$ 158.3 Mn in the year 2022 and is slated to touch a value of US$ 323.9 Mn in the year 2027, reflecting a CAGR of 7.4% during the assessment period. The Western Europe polyester straps market is estimated to be valued at US$ 119.8 Mn in the year 2022 and is slated to touch a value of US$ 237.8 Mn in the year 2027, exhibiting a CAGR of 7.1% during the assessment period.
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