According to a new report published by K D Market Insights, titled, Demand for “Metal Strapping Market Insights, Trends, Opportunity & Forecast, 2020–2025,” the global metal strapping market size is anticipated to witness moderate growth during the forecast period i.e. 2020–2025. The rapidly growing e-commerce industry globally, the advancing logistics operations across the world and the burgeoning demand for household appliances, consumer electronics and pharmaceutical products are some of the primary factors contributing towards the growth of the global metal strapping market.
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The North American and European regions jointly dominated in the global metal strapping market in 2020. The regions are projected to further retain their dominant positions in the market over the forecast period of 2020–2025. The growth in the aforementioned regions can be primarily attributed to factors such as the increasing presence of key market players, the growing urbanization & industrialization and the surging adoption of new technologies in the major economies of the regions. The Asia Pacific region is likely to emerge as the fastest growing region in the market over the forecast period. The region is anticipated to register the highest CAGR in the market over the forecast period of 2020–2025. On the other hand, the Latin American region along with the Middle East and African region are expected to register moderate to slow growth over the forecast period of 2020–2025.
The global metal strapping market is segmented into product type, application and region. Based on product type, the market is bifurcated into blue-tempered strapping, paint-coated strapping, galvanized strapping and others. Based on application, it is classified into metal industry, glass industry, building industry and others.
The global metal strapping market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa). Countries such as India, China, Japan and South Korea in the Asia Pacific, the U.S. and Canada in North America and Germany and U.K. in Europe are among the major contributors to the growth of the market.
Key Insights of Metal Strapping Market
- On the basis of region, North American and European regions jointly dominated in the global metal strapping market in 2020. The regions are projected to further retain their dominant positions in the market over the forecast period of 2020–2025.
- On the basis of region, the Asia Pacific region is likely to emerge as the fastest growing region in the market over the forecast period. The region is anticipated to register the highest CAGR in the market over the forecast period of 2020–2025.
Some of the major metal strapping companies profiled in the report include Signode, Samuel Strapping, Baosteel, Anshan Falan, M.J.Maillis Group, Yongxin, Specta, Bhushan Steel, Tianjin Hongmei and Wiscom.
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