South America Plastic Straps Market to Grow at a CAGR of 14.8% to reach US$ 565.70 Million from 2020 to 2027

The South America plastic straps market was valued at US$ 189.89 million in 2019 and is projected to reach US$ 565.70 million by 2027; it is expected to grow at a CAGR of 14.8% during the forecast period 2020-2027.

A plastic strap is a flexible flat material which helps to combine, hold, reinforce, or fasten an item. Plastic strapping used for packaging is a generic term used to describe all non-metallic straps and includes extruded polypropylene & polyester straps together with corded or woven polyester straps. The growth of plastic straps market is driven by the increasing use of plastic straps in the paper, steel, and bricks & tiles industries. Plastic strapping materials are produced from polypropylene, polyester, and are available in a wide variety of styles, strengths, and finishes. Strapping can be applied either automatically with a strapping machine or manually with a hand tool. Strapping is widely used across many industries, including shipping large industrial equipment to e-commerce fulfillment centers. Different products of strapping material are available with specific classifications and grades.

Brazil contributed to the largest share of the South America plastic straps market. Brazil is the largest country in SAM and has become the leading country in the region that is witnessing good growth in the plastic straps market due to the rise in the chemical, heavy metal, electronics, packaging, and consumer goods industry. In SAM, Brazil is one of the leading countries in terms of technological advancement. The rise in demand for electronics and an increase in population is estimated to boost the transport of goods and drives the plastic straps market. The packaging industry is largely contributing to this market.

Impact of COVID-19 Pandemic on Plastic straps Market

Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.

Rest Of South America Plastic Straps Market

Market Insights

Rising preference for lightweight and low-cost strapping materials

Plastic straps are made of polypropylene and polyester materials and are available in a wide variety of designs, strengths, and finishes. These straps are increasingly used in a wide range of industries, such as steel, paper, cloth, cotton and bricks, and tiles. In the last several years, the popularity of plastic strapping has risen over many other packaging options. This is mainly due to the cost-saving advantages plastic strapping offers over its competitive products and efficiency benefits. Metal seals are not required in plastic strapping because either friction or heat seal is used to weld the strap. Also, damage to goods is significantly reduced at a lower cost per foot without metal seals, and it is created at a lower price. Plastic strapping is developed in compliance with the toughest industry tolerances. It is approved for the use of both brick and timber. It is ideal for heavy-duty loads when good initial tension and retained tension are required because they have splendid retained tension properties. This way, even after the package has settled or its size has shrunk, the strap stays tight around the load.

Type-Based Market Insights

Based on type, the plastic straps market is segmented into polyester straps, polypropylene straps, nylon straps, paper straps, composite straps, corded and woven straps. The polypropylene straps segment accounted for the largest share of the South America plastic straps market in 2019. Polypropylene is used for a broad range of different products because of the fatigue resistance, which means that it can be used on high-pressure products, such as hinge mechanisms on water bottles and more. It is also used for the production of piping systems and seats, as well as for medical or laboratory use. Moreover, the extensive usage of propylene-based straps in the packaging industry is also expected to drive the demand for these straps over the coming years.

Rest of South America Plastic Straps Market, by Type – 2019 and 2027

End Use Market Insights

Based on end use, the plastic straps market is segmented into fiber, steel, cotton, paper, bricks and tiles, and others. In 2019, the paper segment accounted for the largest share of the South America plastic straps market; however, the cotton segment is expected to register the fastest CAGR during the forecast period. For convenient handling and shipping of newspapers, plastic straps are used for bundling items. Also, the growing demand for plastic straps in the paper industry is likely to propel the market's growth for plastic straps in the coming years. For packaging companies worldwide, environment-friendly packaging solutions have become a trend rather than an exception. The profound shift in corporate standards, government policy, trade regulations, and customer preferences has led to a paradigm shift in the packaging industry towards eco-friendly solutions. The newspaper and graphics has been rising in emerging economies due to the increased production and distribution of various magazines and print advertising.

Plastic straps Market – By Type

• Polyester Straps
• Polypropylene Straps
• Nylon Straps
• Paper Straps
• Composite Straps
• Corded and Woven Straps

Plastic straps Market – By End Use

• Fiber
• Steel
• Cotton
• Paper
• Bricks and Tiles
• Others

Company Profiles

• Cyklop International
• FROMM Group
• Crown Holdings, Inc.
• Polychem Corporation
• Teufelberger Stralsund GmbH

South America Plastic Straps Report Scope