The global strapping machine market size is expected to reach USD 6.73 billion by 2028 according to a new study by Polaris Market Research. The report “Strapping Machine Market Share, Size, Trends, Industry Analysis Report, By Material (Polypropylene, Polyester, Steel); By End-Use (Consumer Goods, Food & Beverage, Newspaper & Publishing, Postal, Others); By Product; By Application; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rapid growth in the global packaging industry majorly drives the industry growth. Growing concerns regarding product safety to avoid damage and loss during packaging and shipping supports the industry growth. The increasing demand from consumer goods, food and beverage, and publishing further accelerate the adoption of the product.
There has been an increasing demand for the product by small and medium businesses to increase packaging efficiency while reducing costs. However, high initial investment costs of the product limit the industry growth. New emerging markets, technological advancements, and increasing adoption by small and medium businesses would provide growth opportunities for strapping machine market in the coming years.
Asia Pacific accounted for the highest share in the global strapping machine market during the forecast period. A significant growth in the consumer goods, and food and beverage industries has been registered over the past few years in the region, thereby supporting the growth of the product in the industry.
Increasing need for effective packaging to avoid losses due to damages and rising disposable incomes in developing countries of this region augment the industry growth in the region. Leading global players are expanding their presence in developing nations of India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.
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The various types of models include semi-automatic, automatic, and fully automatic strapping machines. The semi-automatic strapping machine segment is expected to lead the industry during the forecast period owing to increasing demand from small and medium-sized businesses.
Semi-automatic technology is designed for small and medium-sized items and requires users to manually feed strapping into the machine. The use of semi-automatic technology in various industries such as food & beverage, consumer goods, publishing, and electronics among others has increased its demand over the past years.
The different materials used in strapping machines include polypropylene, polyester, steel, and others. The polypropylene segment dominated the industry in 2020 owing to its affordable use in the packaging of small and medium-sized products. Its increasing use in various industries such as food and beverage, consumer goods, publishing, and electronics among others is expected to drive the industry growth during the forecast period.
The well-known companies profiled in the report include Mosca GmbH, Samuel Strapping Systems, MJ Maillis S.A., Transpak Equipment Corp., Signode Packaging Systems Corporation, Strapex Group, Polychem Corporation, Dynaric Inc., Messersi Packaging S.r.l., Fromm Holdings AG, Australian Warehouse Solutions, and Venus Packaging among others. These companies launch new products and collaborate with other industry leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.