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Global Strapping Machine Market to Reach USD 6.5 Billion by 2026, Aided by Rapid Industrialisation

According to a new report by EMR titled, ‘Global Strapping Machine Market Report and Forecast 2021-2026’, the global market for strapping machine attained a value of about USD 4.9 billion in 2020. The industry is further expected to grow at a CAGR of 4.7% in the forecast period of 2021-2026 to reach approximately USD 6.5 billion by 2026.

The market within the Asia Pacific region is witnessing a robust growth due to rapid industrialisation and urbanisation. The emergence of China and India as some of the biggest manufacturers and consumers of consumer electronics, automotive, and food and beverage industries, among others, is further increasing the demand for strapping machines, which is propelling the market growth in the Asia Pacific. The robust growth of the packaging industry, with the growing demand for sustainable packaging, is increasing the deployment of strapping machines in various industries in the region, therefore augmenting the industry growth. In addition, the booming e-commerce industry in the region is further surging the demand for strapping machines, which is expected to invigorate the market growth over the forecast period.

Some of the leading companies in the market are Polychem Corporation (BOM: 506605) and Dynaric, Inc. The latter announced in August 2017 that its AM659SCA, a fully automatic strapping machine, was expected to be introduced and displayed in the 2018 Boston Seafood Show. The product is one of the leading automatic plastic strapping machines of the company that is designed for efficient bundling while providing product security. The strapping machine is designed for harsh packaging environments and seafood industries as it is built on a solid, heavy-duty frame that is surrounded by stainless steel panels. This provides maximum protection from the extreme conditions of the seafood packaging industries, hence preventing any damage to the product. The machine incorporates servo motor technology to increase reliability, durability, and energy efficiency. The introduction of such products is augmenting the growth of the strapping machine industry.

Market Analysis by Product, Material, Application, and Region:

  • The market, on the basis of product, can be divided into semi-automatic, automatic, and fully automatic.
  • Based on material, the industry can be divided into steel, polypropylene, and polyester.
  • The major applications of strapping machine include food and beverage, consumer appliances, household appliances, and newspaper and graphics, among others.
  • The regional markets for strapping machine include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for strapping machines in the food and beverage industry is aiding the market growth.
  • The market is being driven by the development of strapping machines that can strap products cost-effectively and swiftly.
  • The robust growth of the e-commerce sector is increasing the deployment of strapping machines for efficient logistics and transportation, hence further augmenting the market growth.
  • The advent of Industry 4.0 is increasing the use of fully automatic strapping machines, which is also invigorating the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for strapping machine for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, materials, applications, and major regions of strapping machine.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global strapping machine market are Dynaric, Inc., Polychem Corporation, StraPack, Inc., Transpak Equipment Corp., Signode Industrial Group LLC, and Fromm Holding AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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