What is Global Paint-Coated Steel Strapping Market?
The Global Paint-Coated Steel Strapping Market is a vast and dynamic sector that deals with the production, distribution, and consumption of paint-coated steel strapping. This type of steel strapping is widely used in various industries due to its durability, strength, and resistance to corrosion. The market is characterized by the presence of numerous players, both large and small, who compete on the basis of product quality, price, and brand reputation. The market's value was estimated at US$ 482.6 million in 2022, and it is projected to grow to US$ 645.9 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.2% from 2023 to 2029.
Oscillated Wound Coil, Ribbon Would Coil in the Global Paint-Coated Steel Strapping Market:
The Global Paint-Coated Steel Strapping Market is segmented into two main product types: Oscillated Wound Coil and Ribbon Wound Coil. The Oscillated Wound Coil is the most popular product, accounting for over 60% of the market share. This type of coil is preferred by many industries due to its high strength and durability. On the other hand, the Ribbon Wound Coil is also a significant segment in the market, although it holds a smaller market share compared to the Oscillated Wound Coil. Both types of coils are used in various applications, depending on the specific requirements of the industry.
Metal, Wood, Construction Materials, Others in the Global Paint-Coated Steel Strapping Market:
The Global Paint-Coated Steel Strapping Market finds its applications in various sectors such as Metal, Wood, Construction Materials, and Others. In the Metal industry, the paint-coated steel strapping is used for bundling and securing metal sheets and bars during transportation and storage. In the Wood industry, it is used for securing wooden planks and logs. In the Construction Materials industry, the strapping is used for bundling and securing construction materials such as bricks, tiles, and cement bags. The Other industries where the paint-coated steel strapping is used include the packaging industry, the shipping industry, and the manufacturing industry.
Global Paint-Coated Steel Strapping Market Outlook:
The Global Paint-Coated Steel Strapping Market is a growing market with a promising future. The market was valued at US$ 482.6 million in 2022 and is expected to reach US$ 645.9 million by 2029, growing at a CAGR of 4.2% during the forecast period of 2023-2029. The market is dominated by the top three manufacturers who hold a share of over 20%. The largest market for paint-coated steel strapping is Asia-Pacific, which holds a share of about 56%. Europe follows closely behind with a share of about 24%. The largest segment in terms of product is the Oscillated Wound Coil, which holds a share of over 60%.
| Report Metric | Details |
| Report Name | Paint-Coated Steel Strapping Market |
| Accounted market size in 2023 | US$ 504.6 million |
| Forecasted market size in 2029 | US$ 645.9 million |
| CAGR | 4.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Sales by Region |
|
| By Company | Signode, Samuel Strapping, Baowu Steel, Specta, Anshan Falan, Tata Steel, M.J.Maillis Group, Kohan Kogyo, Jiangsu Juhong, TITAN Umreifungstechnik, Qinhuangdao Jiashilun, Qinghuangdao Tongye, Sam Hwan Vina, Polychem, Linder, Ensho Steel Strapping, Walzen Strips |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
