Pune 20 April 2023: As per the report delivered by Maximize Market Research, a global business research and consultancy firm, the total global market for “PET Strap Market” was USD 698.7 Mn in 2021 and is expected to grow at a CAGR of 6.63 percent over the forecast period to reach USD 1167.7 Mn by 2029.
PET Strap Market Report Scope and Research Methodology
The report is a thorough analysis of the PET Strap market which is equipped with key findings including pricing, investments, expansion plans, and physical presence in the PET Strap market. To understand PET Strap market estimations and growth rates, a bottom-up approach was used in the report. A detailed analysis is conducted on the drivers, restraints, opportunities, and challenges of the PET Strap market. The financial standing, portfolio, technology adoption, merger and acquisition, joint ventures and strategic alliances are included in the competitive environment for the PET Strap market.
Regional analysis of the market conducted at a local, regional and global level. To understand the PET Strap market penetration, growth models and strategies used by key players, a competitive analysis is conducted in the report. The report also provides information on the emerging regions that are expected to be major markets for the PET Strap market.
The report includes primary and secondary data collection techniques for the collection of data on PET Strap Primary collection is conducted from questionnaires and telephonic interviews with market leaders, business owners, etc., while secondary research includes financial reports, annual reports and white papers, etc. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to cover the competitive intensity of the industry in the PET Strap Market.
PET Strap Market Dynamics
Rapid industrialization and globalization resulted in to increase in the demand from end-use industries for the PET strap. Pharmaceutical products, medical devices, Consumer electronics, household appliances, and textile goods, which is expected to increase the demand for strapping material as an applicable packaging material. The market is driven by the growth of the packaging industry, the growing building and construction sector, the increasing demand for PET straps in the automotive industry and the increasing use of environmental-friendly packaging.
The advancement in the strap material and increase in the use of plastic strapping is due to its suitable properties such as high break strength, elongation, and recovery and its ability to withstand high tension are lucrative opportunities for market growth. During the forecast period, the market growth is expected to be hampered by fluctuations in the new material prices
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PET Strap Market Regional Insights
In 2021, Asia Pacific dominated the PET Strap Market with the largest market share up to 47 percent. The regional market is driven by the increasing demand for PET straps from the industries such as paper, electrical and electronics. The growth of the electronics and paper industries resulting to increase in the demand for PET Strap in the packaging industry.
By 2025, India’s consumer electronics and appliances sectors are expected to be the fifth largest in the world, according to the Invest India Agency. The increase in the usage of biodegradable materials for packaging, the significant presence of plastic polymer and new policies for the reduction of non-recyclable plastic packaging are the factors that help India’s PET Strap Market. As a result, India contributes a significant growth driver for the market.
PET Strap Market Segmentation
By Type
By End-Use Industry
PET Strap Market Key Players include:
Table of for Global PET Strap Market:
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Key questions answered in the PET Strap Market are:
Key Offerings:
Maximize Market Research Material & Chemical research firm, has also published the following reports:
Plastic Straps Market: The market size is expected to reach USD 7.96 Bn by 2029 at a CAGR of 18.33 percent during the forecast period. The market is driven by increasing the packaging and logistics sector and expansion of the construction industry.
Sealing & Strapping Packaging Tapes Market: The market size is expected to reach USD 30.20 Bn by 2029 at a CAGR of 4.0 percent during the forecast period. The market is driven by increasing demand for products in carton sealing and strapping and building and an increase in demand for protective clothing and accessories including military, surgical/medical, and chemical protection garments.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Media ContactCompany Name: MAXIMIZE MARKET RESEARCH PVT. LTD.Contact Person: Geeta YevleEmail: Send EmailPhone: +91 9607365656Address:3rd Floor, Navale IT Park, Phase 2, Pune Banglore Highway, Narhe,City: PuneState: MaharashtraCountry: IndiaWebsite: https://www.maximizemarketresearch.com/market-report/global-solid-state-lighting-market/19660/
