Packing Belt Market Size to Reach US$ 3.1 Bn by 2032 at 5.1% CAGR – Report by Future Market Insights, Inc. – Press Release

NEWARK, Del, July 06, 2022 (GLOBE NEWSWIRE) — As per a report by Future Market Insights (FMI), the global packing belt market is set to be valued at US$ 3.1 Bn in 2032 and exhibit growth at a CAGR of 5.1% in the forecast period from 2022 to 2032.

A packing belt, also known as a packing strap is a supportive item made from plastic which is primarily used for bundling, palletizing, and holding medium to heavy bulk items during transportation. Need to protect bulk products from damages associated with shifting amid transportation is a significant factor driving demand for packing belts.

Packing belts are used in several end-use industries such as food & beverage, pharmaceuticals, shipping & logistics, electrical & electronics, and automotive. They are considered to be a safe option for transportation of goods as they are easy to use and lightweight in nature. High demand for robust and secure supporting and packaging solutions for bulk products is anticipated to augment sales of packing belts during the forecast period.

Request a Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15121

Packing belt helps in absorbing the pressure and retaining the tension, thereby keeping packed goods safe during storage and transportation. Polyester packing belt is extensively used by various end-use industries as it provides benefits such as high break strength and greater elongation.

Key Takeaways: Packing Belt Market

• Polyester is estimated to be the dominant material in the packing belt market and is set to hold around 52% of the share by the end of 2032.
• By end-use industry, the shipping & logistics segment is expected to create an absolute $ opportunity of US$ 344.6 Mn in the forecast period.
• The India packing belt market is likely to exhibit steady growth at a CAGR of 5.5% during the forecast period (2022-2032).
• The U.S. is anticipated to be valued at US$ 202.6 Mn in the upcoming decade with increasing sales of automotive.
• The global packing belt market is expected to reach US$ 1.9 Bn in 2022.

“Development of eco-friendly packing belts such as PET straps made from recycled materials is projected to create new growth opportunities for key players and help them address vital sustainability concerns,” says a FMI analyst.

Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-15121

Increasing Concerns about Environmental Pollution to Drive Sales of PET Packing Belts

Demand for eco-friendly packaging is increasing across the globe as consumers are becoming aware of environmental pollution caused due to the usage of unsustainable products and packaging. High demand for polyethylene terephthalate (PET) packing belts made out of 100% recycled materials is set to push the market during the forthcoming years.

PET packing belt is not only recyclable but also offers various other benefits such as lightweight nature, high shock absorbent capacity, weather & UV resistance, and high retained tension. Spurred by the aforementioned properties, the global packing belt market is projected to grow at a steady pace by 2032.

Ability to Absorb Shocks during Transportation to Propel the Global Packing Belt Market

Packing belts are extensively used in numerous industries for medium and heavy-duty bailing, bundling, palletizing, and load unitizing applications. Growing significance of packing belts in the shipping and logistics industry to move goods efficiently is anticipated to augur well for the global market.

Moreover, shocks and high pressure created during shipping and movement of goods can lead to damages. High-elongated elasticity and strength of packing belts can help in retaining the created pressure or tension. Thus, high holding and shock absorbing capacity is likely to spur the demand for packing belts during the forecast period.

Request for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-15121

Competitive Landscape: Packing Belt Market

Some of the renowned companies present in the global packing belt market include Teufelberger holding AG, FROMM Packaging Systems Inc., Mosca GmbH, Samuel Strapping Systems, Linder GmbH, The Plastic Strapping Company Ltd, Northshore Strapping Company, Plastic Extruders Ltd., Campanini UGO S.P.A, Consent LLC, Narrowtex Pty (Ltd.), National Webbing Products, Universal Strapping Inc., and Nottingham Narrow Fabrics Ltd.

Packing Belt Market Outlook by Category

By Material:

• Polypropylene (PP)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)
• Polyester
• Nylon

By Thickness:

• Below 0.5mm
• 0.5mm-0.75mm
• 0.76mm-1mm
• Above 1mm

By End-use Industry:

• Food & Beverage
• Pharmaceuticals
• Electrical & Electronics
• Automotive
• Building & Construction
• Textiles & Apparels
• Chemicals & Fertilizers
• Shipping & Logistics

Buy Now@ https://www.futuremarketinsights.com/checkout/15121

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Technology Roadmap

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

To be continued…!

Have a Look at Related Research Reports of Packaging Domain

Drug Delivery Solutions Market Share: The global drug delivery solutions market size was valued at US$ 94.3 Bn in 2021 and is projected to reach US$ 181.9 Bn by the end of 2031, exhibiting growth at 6.8% CAGR between 2021 and 2031.

Thermoplastic Tapes Market Size: The thermoplastic tapes market is estimated at USD 2.2 Bn in 2022 and is projected to reach USD 3.0 Bn by 2029, at a CAGR of 4.7% from 2022 to 2029.

IBC Rental Business Market Trends: The IBC rental business market is estimated at US$ ~1,218.0 Mn in 2022 and is projected to reach US$ ~1,790.0 Mn by 2029, at a CAGR of 5.7% from 2022 to 2029.

Timber Wrap Film Market Outlook: The global timber wrap films market is set to be worth US$ 445.4 Mn in 2022, and is projected to expand at a CAGR of 4.3% to top a valuation of US$ 601 Mn by 2029.

Volatile Corrosion Inhibitors Packaging Market Demand: The volatile corrosion inhibitors packaging market is valued at USD 778 Million in 2022 and is expected to reach USD 1,175 Million by 2029, at a CAGR of 6.1% from 2022 to 2029.

Bag Closure Clips Market Growth: The global bag closure clips market size is estimated at US$ 194.7 Mn in 2022, and is projected to rise steadily at a CAGR of 5.6% to be valued at US$ 304.8 Mn by 2029.

Metallized Paper Market Type: The metallized paper market is estimated at US$ ~4.1 Bn in 2022 and is projected to reach US$ ~5.7 Bn by 2029, at a CAGR of 4.8% from 2022 to 2029.

Wooden Cutlery Market Analysis Forecast: The wooden cutlery market is estimated to value at US$ 184.4 million in 2022 and is projected to reach US$ 245 million by 2028, at a CAGR of 4.8% during the forecast period.

Medication Pouch Inspection Systems Market Sale: The global medication pouch inspection systems market is set to enjoy a valuation of US$ 37 Mn in 2022, and is predicted to surge ahead at a CAGR of 7.6% to attain a net worth of US$ 59.3 Mn by the end of the year 2029.

Growlers Market Value: Global sales of growlers market are estimated to reach US$ 541 Mn in the year 2022 and is expected to reach US$ 635 Mn till the year 2028, over the forecasted period the sales at the global level is anticipated to witness the growth of 2.7% CAGR between 2022 and 2028.

About Us     

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights Inc.    
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA    
T: +1-845-579-5705    
Report: https://www.futuremarketinsights.com/reports/packing-belt-market
For Sales Enquiries: sales@futuremarketinsights.com     
Browse Latest Market Reports: https://www.futuremarketinsights.com/reports  
LinkedIn| Twitter| Blogs