LONDON--(BUSINESS WIRE)--The polyester straps market size is expected to post a CAGR of over 15% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Polyester straps are extensively being used for packaging various paper and printing products such as writing and printing paper, tissue papers, coated papers, and specialty papers. This is mainly because polyester straps are lightweight and resistant to corrosion, and they ensure safe transportation and storage. The consumption of tissue paper is increasingly owing to the growing focus on hygiene. Further, the demand for printing and writing papers that are used for magazines, books, stationery, newspapers, and catalog printing is also increasing considerably, as is the consumption of tissue paper due to the growing focus on hygiene. Thus, the growth in the paper and printing industry will fuel the demand for polyester straps during the forecast period.
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As per Technavio, the growth of the e-commerce sector will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Polyester Straps Market: Growth of the E-Commerce Sector
The global e-commerce market is growing at a rapid pace with an increasing number of consumers switching from traditional shopping methods to online shopping. Online retailers use different types of corrugated boxes based on the products being transported to ensure the safety of the products. Polyester straps are commonly used to bind corrugated boxes to secure them and eliminate the risk of spillage. With effective packaging becoming one of the key business requirements in the e-commerce sector, the polyester straps market will grow considerably during the forecast period.
“Other factors such as the emergence of bioplastics, and the high growth potential in emerging economies will have a significant impact on the growth of the polyester straps market value during the forecast period,” says a senior analyst at Technavio.
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Polyester Straps Market: Segmentation Analysis
This market research report segments the polyester straps market by grade (machine grade and hand grade) and geographic regions (APAC, Europe, MEA, North America, and South America).
The APAC region led the polyester straps market in 2018, followed by North America, Europe, South America, and MEA respectively. The growth of the polyester straps market share in APAC can be attributed to factors such as the increasing industrialization, and strong demand for polyester straps from industries such as paper and printing, and metal and steel.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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