South America Plastic Straps Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type; End Use, and Country

According to the publisher's latest market study on “South America Plastic straps Market Forecast to 2027 - COVID-19 Impact and South America (SAM) Analysis - By Type (Polyester Straps, Polypropylene Straps, Nylon Straps, Paper Straps, Composite Straps, Corded and Woven Straps); End Use (Fiber, Steel, Cotton, Paper, Bricks and Tiles, Others), and Country, the 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. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.

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.

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 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.

The South America plastic straps market is concentrated with a few well-established players such as Auto Strap India, Cyklop International, FROMM Group, Crown Holdings, Inc., Polychem Corporation, and Teufelberger Stralsund GmbH.

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.

The report includes the segmentation of the South America plastic straps market as follows:

By Type

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

By End Use

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

By Country

• Brazil
• Argentina
• Rest of SAM

Reasons to Buy

• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the South America plastic straps market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.