The Business Research Company’s Steel Strapping Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 31, 2024 /EINPresswire.com/ -- The steel strapping market has experienced robust growth in recent years, expanding from $1.09 billion in 2023 to $1.18 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to the industrial revolution, transportation expansion, packaging innovations, occupational safety regulations, and environmental awareness.

Strong Future Growth Anticipated
The steel strapping market is projected to continue its strong growth, reaching $1.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to environmental regulations, technological advances, supply chain disruptions, market demand fluctuations, and cost pressures.

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Growth Driver Of The Steel Strapping Market
The robust growth in the construction and infrastructure sectors is expected to propel the growth of the steel strapping market going forward. The construction sector encompasses the planning, design, and building of structures, while the infrastructure sector involves the development and maintenance of essential systems such as transportation, utilities, and communication networks. Robust growth in the construction and infrastructure sectors is driven by increasing urbanization, government investments in public projects, and demand for modernization and expansion of existing infrastructure. Steel strapping is widely used in the construction and infrastructure sectors for securing heavy loads, reinforcing concrete structures, and bundling materials for transportation and storage.

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Major Players And Market Trends
Key players in the steel strapping market include ArcelorMittal S.A., Shandong Baosteel Industry Co. Ltd., Berry Global Inc., Fastenal Company, Samuel, Son & Co. Inc., Nisshinbo Holdings Inc.
Major companies operating in the steel strapping market are focusing on developing production units integrated with energy-efficient technologies, such as eco-friendly production lines, to enhance efficiency and meet increasing demand. Eco-friendly steel strapping production lines incorporate energy-efficient technologies, recycling processes, and advanced coatings to minimize environmental impact and promote sustainability.

Segments:
1) By Type: Blue-Tempered Steel Strapping, Paint-Coated Steel Strapping, Galvanized Steel Strapping, Other Types
2) By Tensile Strength: Regular Duty, High Tensile
3) By Application: Metal, Paper, Glass, Building, Other Applications

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the steel strapping market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the steel strapping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Steel Strapping Market Definition
Steel strapping refers to a type of packaging material used to secure and stabilize items during transportation and storage. It is made from high-tensile steel and is known for its strength, durability, and ability to withstand heavy loads.

Steel Strapping Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Steel Strapping Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on steel strapping market size, steel strapping market drivers and trends, steel strapping market major players, steel strapping competitors' revenues, steel strapping market positioning, and steel strapping market growth across geographies. The steel strapping market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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