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Steel Strapping Market Trends

Report ID: GMI7750
Published Date: Dec 2023
Report Format: PDF

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Steel Strapping Market Trends

In the steel strapping industry, several noteworthy trends are shaping the industry landscape. A prominent trend is the growing adoption of eco-friendly and sustainable practices, driven by increased environmental awareness. Manufacturers are exploring alternative coatings and materials to enhance the recyclability of steel strapping, aligning with the global push for greener packaging solutions. Furthermore, advancements in technology are influencing the market, with the integration of automated strapping systems and smart packaging solutions that enhance efficiency and traceability in supply chains.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for steel strapping was valued at around USD 1.11 billion in 2023 and is estimated to reach USD 1.9 billion by 2032 owing to the robust growth in the construction and infrastructure sectors, where steel strapping is essential for bundling and securing materials.

Metal industry segment had a market share of around 28% in 2023 and is expected to grow at a lucrative pace through 2032 as the industry often deals with heavy, irregularly shaped, and sharp-edged materials, necessitating robust strapping solutions.

North America steel strapping market share was worth USD 353.9 million in 2023 and is anticipated to expand at a significant pace from 2024-2032 owing to the region's thriving manufacturing sector, particularly in industries such as construction, metal, and logistics,

Acme Steel Company, Berry Global Inc., Fastenal Company, National Industries Inc., Nisshinbo Holdings Inc., Pacific Steel Strapping Corporation, Polymer Group Inc., and Rathi Steel Strips Ltd.