Kenneth Research recently added a report on ‘Strapping Machine Market’ which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that, Europe is the second largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years. In the year 2018, out of the top 10 chemical producing countries in the world, two countries belonged to Europe that generated a sales revenue of 19.1% of the total sales revenue globally. Moreover, the sales of chemicals in Europe grew from 2017 by 2.8% in 2018.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Strapping Machine Market products.
According to a new study published by Polaris Market Research the worldwide Strapping Machine Market is anticipated to reach around USD 6,991.4 million by 2026. In 2017, the semi-automatic strapping machine segment dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global strapping machine market.
The rapid growth in the global packaging industry majorly drives the growth of this market. Growing concerns regarding product safety to avoid damage and loss during packaging and shipping supports the market growth. The increasing demand from consumer goods, food and beverage, and publishing further accelerates the adoption of strapping machines. .
Download Sample of This Strategic Report:- https://www.kennethresearch.com/sample-request-10070508
There has been an increasing demand of strapping machines by small and medium businesses to increase packaging efficiency while reducing costs. However, high initial investment costs of strapping machines limit the growth of the market. New emerging markets, technological advancements, and increasing adoption by small and medium businesses would provide growth opportunities for strapping machine market in the coming years.
Asia-Pacific accounted for the highest share in the global strapping machine market during the forecast period. A significant growth in the consumer goods, and food and beverage industries has been registered over the past few years in the region, thereby supporting the growth of strapping machines in the market. Increasing need for effective packaging to avoid losses due to damages, and rising disposable incomes in developing countries of this region augment the market growth in the region. Leading global players are expanding their presence in developing nations of India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.
The various types of strapping machines include semiautomatic strapping machines, automatic strapping machines, and fully automatic strapping machines. The semi-automatic strapping machine segment is expected to lead the market during the forecast period owing to increasing demand from small and medium sized business. Semi-automatic strapping machines are designed for small and medium sized items and require users to manually feed strapping into the machine. Use of semi-automatic strapping machines in various industries such as food and beverage, consumer goods, publishing, and electronics among others has increased its demand over the past years.
Request Free Sample Copy :-https://www.kennethresearch.com/sample-request-10070508
The different materials used in strapping machines include polypropylene, polyester, steel, and others. The polypropylene segment dominated the market in 2017 owing to its affordable use in packaging of small and medium sized products. Its increasing use in various industries such as food and beverage, consumer goods, publishing, and electronics among others is expected to drive the market growth during the forecast period.
The well-known companies profiled in the report include Mosca GmbH, Samuel Strapping Systems, MJ Maillis S.A., Transpak Equipment Corp., Signode Packaging Systems Corporation, Strapex Group, Polychem Corporation, Dynaric Inc., Messersi Packaging S.r.l., Fromm Holdings AG, Australian Warehouse Solutions, and Venus Packaging among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
read more reports@
Europe Mobile Clinics Market
Europe Acute Myeloid Leukemia (AML) Biomarker Testing Market
Europe Tissue Processor Equipment Market
Europe Transcutaneous Monitors Market
Europe Ferritin Testing Market
Europe Healthcare Safety and Risk Management Solutions Market
Europe Rapid Microbial Detection Systems Market
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Email : Sales@kennethresearch.com
Phone: +1 313 462 0609