According to Future Market Insights (FMI), the package tensioner market is projected to grow at a CAGR of 4.8% between 2022 and 2032, reaching a valuation of US$ 1.6 billion by 2032. Package tensioners, which are cord strap packaging tools, are utilized in various packaging sectors to securely seal straps and ensure longer shelf life. These devices tighten and connect flat steel or plastic bands to hold packages or pallets of goods in place.
Packaging tensioners are built with durable materials, enabling them to perform optimally for extended periods. They are suitable for a wide range of horizontal and vertical strapping applications, securing the weight and even fastening straps at challenging and unconventional angles.
The packaging industry extensively employs package tensioners in applications across consumer goods, retail products, food, and beverages. Strapping the product with tensioners adds an extra layer of containment and provides additional strength during shipping.
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Package tensioners are essential for holding, combining, and stabilizing products to ensure the protection of merchandise during transit. These equipment are commonly used when a machine creates a strap or band that connects the items together.
The demand for packaging tensioners is expected to rise during the forecast period, driven by the increasing need for secure shipment of various products across end-use segments such as logistics, food, and beverages
Key Takeaways from Packaging Tensioner Market
- By material, plastic tensioners are expected to hold almost 60.4% of the market share by 2032 due to its lightweight and elongation, which allows them to stretch tighter when needed.
- The battery-operated packaging tensioner is expected to accelerate at a CAGR of 5.1% between 2022 and 2032 as it allows to strap up more packages and save business time compared to manual tensioners.
- India packaging tensioner market is expected to grow 2.0 times of its size by the end of 2032.
- The U.S. packaging tensioner market is expected to witness incremental $ opportunity of US$ 37.4 Mn by the end of forecast period.
“The rising industrial automation coupled with increasing demand for effective packaging solutions along with growth in various end use industries such as food & beverage, industrial logistics & warehouse is expected to create market opportunities for the packaging tensioner market.” – Comments FMI analyst
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Increasing Demand for Corrugated Box Packaging in Various Industries is Giving Rise to Usage of Straps and Strapping Tools
According to International Corrugated Case Association, Asia was the leader in the global corrugated production and shipments, accounting for more than 120 Bn square metres, in 2017. With over 6 Bn M Sq. (22.2% of the market) manufactured and transported, Europe stood as the second-largest manufacturer. The production and demand for corrugated packaging have improved two folds since 2017 and are expected to generate lucrative investment opportunities for stakeholders in the coming years. This is expected to boost the sales of straps and strapping tools, hence improving the overall packaging tensioner market.
Significant Growth in the Logistic Industry Leads to Surge in Demand for Packaging Tensioner Market
Packaging tensioners are convenient and useful, especially in transportation, manufacturing, and retail. The logistics industry observed a hike, which is a major reason that is driving the market growth of packaging tensioners. Manufacturers are using tensioner tools as it is a reasonable way to boost the productivity of the warehouse or production floor.
An automatic tensioner can double or triple the output of a product ready to transport and save the cost of human labour. As the logistics industry is developing while adopting the latest technology, such as artificial intelligence, robotics, and others, the demand for packaging tensioners tends to rise for effective packaging.
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Impact of COVID-19 on Packaging Tensioner Market
Industries were making rapid growth toward their sustainability targets before COVID-19. The pandemic, on the other hand, has had a negative impact on a variety of companies around the world, particularly the packaging industry. The packaging enterprises were developing new technologies that were environmentally friendly, reusable, and recyclable, but the change in consumer preference and concerns about the safety and cleanliness of reusable packaging temporarily affected the development dynamics of the packaging industry. The pandemic has brought a surplus of shifts in consumer shopping behavior.
The supply chain was negatively impacted and had a negative impact on the packaging tensioner market because transportation and logistics were unavailable during a pandemic due to a lockdown imposed by government as the core purpose of the logistics and transportation industries was to package goods and supplies. Following the pandemic, packaging enterprises are adjusting to sustainability goals that include improved hygiene, standardized e-commerce, and lower product costs. Because these new trends will highlight customers’ needs across the business, the impact of the pandemic will have a positive influence on performance. Furthermore, as e-commerce industries improve their logistics, packaging tools and equipment will be more widely used, ultimately boosting the market growth of packaging tensioners.
Packaging Tensioner Market Landscape
Some of the players operating in the global packaging tensioner market are FROMM Packaging Systems, Dynaric, Inc., North Shore Strapping Inc., Samuel Packaging Systems Group, Transpak Equipment Corp, Tiger Pack, Inc., Venus Hartung Pty Ltd., Wenzhou Zhenda Packing Machine Co., Ltd., Sal-Tech Easy Packaging, Yang Bey Industrial Co., Ltd., Signode India, ASN Packaging Private Limited, Mandsorwala Packaging, KGN Enterprises, Sai Packaging Industries, TITAN Umreifungstechnik GmbH and Co. KG, Polychem Corp., Teknika Strapping Systems and Vijay Enterprise.
Packaging Tensioner Market by Category
By Material:
- Plastic
- Polyester
- Polypropylene
- Metal
- Steel
- Aluminium
By Operation:
- Manual
- Battery-operated
By End Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Building & Construction
- Agriculture
- Automotive
- Logistics & Transportation
- Homecare
- Others (Textile, Cosmetics & Personal Care)
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