The global raffia tape stretching line market size was worth around USD 6312.2 Million in 2022 and is predicted to grow to around USD 11745.5 Million by 2030 with a compound annual growth rate (CAGR) of roughly 8.24% between 2023 and 2030.
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➤ The market is expected to expand due to the increasing demand for sustainable packaging.
The global raffia tape stretching line market is anticipated to expand in response to the increasing demand for sustainable packaging solutions. The demand for sustainable packaging solutions is at an all-time high due to the increasing concerns regarding the environmental impact of industrialization and urbanization. The packaging industry is one of the most significant environmental offenders, primarily because of the substantial quantity of non-biodegradable substances that are employed as solutions. For example, the various types of plastic. Raffia tape has recently gained popularity among manufacturers due to its biodegradability and renewable source of production.
➤ The expansion of the market is being constrained by the increasing competition from alternative
The global raffia tape stretching line industry may encounter certain obstacles as a result of the increasing prevalence of alternatives in the packaging industry. Although not environmentally favorable, certain solutions are more cost-effective and operational. Cardboard, paper, and bioplastics are the most frequently used alternatives. Industry participants may experience substantial revenue losses as alternative solutions become increasingly accessible and available. Furthermore, the costly initial investment cost could further limit market growth, particularly for medium-sized and small-sized businesses.
➤ More growth opportunities may arise as a result of the increasing inclination toward automation and the increasing investments.
The manufacturing industry is experiencing a growing trend toward automation, which not only enhances the company’s overall operational and production value but also enables human resources to allocate their time to more valuable duties. The global raffia tape stretching line industry is integrating automation at an accelerated pace, which is anticipated to provide businesses in the sector with improved opportunities for collaboration and expansion. Manufacturers have the option to invest in automated apparatus for their clients and to collaborate with service providers to foster innovation and research.
➤ Raw material prices are subject to fluctuations, which may impede market expansion.
Raffia palm trees are the primary raw material utilized in the production of raffia tapes. The cost of these trees is highly price sensitive, as it is contingent upon a variety of social, economic, and political factors in the trading countries. Furthermore, the continuous and seamless supply chain is influenced by the unpredictable and fluctuating weather conditions that affect the production of Raffia palm trees. Consequently, manufacturers are susceptible to profit declines in the years ahead.
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The Global Raffia Tape Stretching Line Market is segmented based on product, application and region
Global Raffia Tape Stretching Line Market: Product Segment Analysis
● Hot Air Oven With Stretching Unit
● Extruder With “T” Die
● Inverter Cheese Winder
● Take Up Nip Roll Withholding Unit
Global Raffia Tape Stretching Line Market: Application Segment Analysis
● 700 g/hr, 451–700 kg/hr
● 151–450 kg/hr
● 80–150 kg/hr
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The global Raffia Tape Stretching Line market profiles key players such as:
● Starlinger & Co. Gesellschaft m.b.H.
● Polystar Machinery Co. Ltd.
● Bandera Luigi Costruzioni Meccaniche S.p.A.
● Hengyang Huayi Machinery Co. Ltd.
● Ruian Xinye Packaging Machine Co. Ltd.
● Kung Hsing Plastic Machinery Co. Ltd.
● Zhejiang Tianfeng Plastic Machinery Co. Ltd.
● Qingdao Leader Machinery Co. Ltd.
● SML Maschinengesellschaft mbH
● Lohia Corp Limited
● J P Industries
● Windmöller & Hölscher KG
● Chyi Yang Industrial Co. Ltd.
● Jinhu Group
???? Recent Developments:
• SIBUR, a Russian petrochemicals company, initiated the production of PP (Polypropylene) grades in December 2022. These grades will be particularly useful in the production of Raffia, specifically PP H063FF/3 and PP H043FF/3. It is anticipated that the products will enhance the performance stability and apparatus performance when used in the high-speed manufacturing of Raffia tape for the packing of large bags.
• Umasree Texplast, an Indian company, announced in November 2022 that it would be forming a joint venture with Packem, a Brazilian company. The partnership will strive to produce eco-friendly Flexible Intermediate Bulk Container (FIBC) Jumbo Bags. Umasree is the owner of 49% of the equity in the joint venture.
➤ China is expected to drive the development of the Asia Pacific regional market.
The Asia-Pacific region is anticipated to experience the most significant growth in the global raffia tape stretching line market, with China being the primary contributor. The country’s existing exceptional manufacturing infrastructure is one of the primary factors that contributes to regional development. It is home to one of the most sophisticated, automated, and high-quality manufacturing sectors in the globe. The demand for associated apparatus is exacerbated by the presence of numerous companies that specialize in the production of raffia tapes. In addition, the country authorities are consistently advocating for the increased production of raffia tapes to meet the demands of a broader range of end-user applications.
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