Global Plastic Straps market was valued at US$ 1.48 Bn in 2019 and is expected to reach US$ 5.69 Bn by 2027, at a CAGR of 18.33 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Growing driver acknowledged in the global plastic straps market is the increasing packaging and logistic sector and expanding construction industry. With the increasing industrialization and commercialized in developing parts of the world, there has been a rapid rise in the logistics and transport requirements in order to facilitate the movement of these goods. In order to effectively transport the goods from production facilities to the market places, strapping materials are widely used for fastening or holding the products. As result, the increasing need to facilitate the movement of goods will boost the global plastic straps market.