The global metal strapping market accrued a sum of $1,892 million in 2016 and is expected to garner $2,746 million, growing at a CAGR of 4.3% from 2017 to 2022, according to Progressive Markets report, Metal Strapping Market Size, Trend, Share, Opportunity Analysis & Forecast, 2017-2022.
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The research report is an in-depth analysis of the metal strapping industry. It provides a basic overview of the market including the definitions, classification analysis, application analysis, industry chain structure, industry development, and market comparison analysis. It also focuses on the aspects such as market size, market share, demand and supply consumption, export, import, capacity, production, revenue, cost analysis, manufacturing technology used, market effect factor analysis, up and downstream industry analysis, competitive landscape, company profiles, and the scope and future prospects of the metal strapping industry.
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The findings of the report help analysts, industry leaders, market players and more interested in market in understanding the current and future market trends. It also helps them with strategic decision making regarding geographical expansion, capacity expansions or identifying new growth opportunities.
The study provides a good grasp of the drivers and restraints of the metal strapping industry so that industry leaders, market players, investors and more can make critical decisions for business growth. It is expected that the metal strapping industry will continue to witness a growing demand due to their high versatility, great break strength, high UV and shock resistance, and durability. In addition, the development of the emerging countries will result in a high growth of the metal strapping industry. On the other hand, the recent advances in plastic strapping technologies have led to the adoption of plastic strapping in some industries, leading to a market slowdown. Furthermore, economic downturn and low market awareness impede the growth of the market.
The study also attempts to provide a clear understanding of the metal strapping industry so that market players, investors, and others interested in the industry are able to use their corporate resources more effectively and make better strategic marketing decisions. The market is segmented by type, application, and geography. Based on type, the metal strapping industry is split into stainless steel strapping and others. Based on application, the industry is split into wood industry, paper industry, building industry, textile industry, and others. The wood industry had a market share of 27.8% in 2017 while the building industry held a market share of 25.3%. Based on geography, the market study covers the regions such as North America, Europe, Asia, Africa, and Australia.
The report also helps to understand the competitive profiles of the key players in the market who adopt various strategies in order to grow and sustain in the marketplace. Major companies listed in the professional study include Anshan Falan, Baopack, Bhushan Steel, Midfield Industries, Shoko Kiko Co., Ltd., HONGMEI, Signode, Samuel Strapping, Polychem, PAC Strapping Products, Inc., MJ Maillis SA, TITAN, LINDER GmbH, Cyklop, and Specta.