Heavy duty traps, have been established as a dominant source of low-cost water resistant fabric having diverse applications across several industries including agriculture firms and transportation. The waterproofing ability of heavy duty traps is a major factor driving the worldwide growth. Heavy duty traps are used to protect the heavy-duty products from extreme weather conditions like excessive rain, heat and others. According to the latest research by Fact. MR, the heavy duty traps market is expected to grow at a CAGR of 4.4% during the forecast period of 2021-2031.
This product is widely used to waterproof or cover wood piles and big containers. They are also used for winterizing doors and windows, collecting rainwater, and closing off sections in rooms or hospitals. Also, nowadays the farmers have started using heavy duty to protect their produce/crops from the pests and extreme weather conditions. Additionally, the growth in end-use industries, such as automotive, construction and agriculture is enhancing the heavy duty traps market growth.
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The growth in end use sectors such as agriculture, automotive, construction & buildings, and other industries are expected to drive the revenue for the global heavy duty traps market over the forecast period. The rise in the number of applications in the logistics & transportation sector owing to its durability & robustness are likely to fuel the global demand.
Such traps or covers can also form a key source of brand promotion. Whereas, the expansion of agricultural activities will therefore create a favorable environment for heavy duty traps sales globally. The product which are used generally in the agriculture sector is made from Poly Vinyl Chloride. These traps have anti-static and anti-fungal properties which have been assisting the collective agricultural applications. All these factors are likely to add to the growth of heavy duty traps market over the forecast period.
The mounting demand from manufacturers to protect the products or goods in logistics as well as in the warehouses, i.e. during the shipments, is the key growth driver. Also, during the transportation of products or goods via railways, roads, or ships, the heavy duty traps acts as tremendous protection to the goods/products.
Safe mobility of cargos and goods need to be kept sheltered from water and weather conditions that require strong water-resistant material & packaging and heavy duty traps is the best material sustaining all such requirements and hence demanded in high amount in this segment.
According to the World Integrated Trade Solution Data in 2019, the view of overall imports and exports, at US$ 18,449,266 Mn while the exports were valued at US$ 20,538,352 Mn. In the view of the data, the trade activities and import-export between the different countries globally, has considerably created beneficial scope for the expansion of the market.
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The Asia-Pacific region is projected to be the fastest-growing heavy duty traps market across the world. The region is leading manufacturing sector for pharmaceutical, food & beverages industries, chemicals, and owing to the low cost of raw materials and more import exports. The agricultural activity is the primary source of income for a majority of Indian farmers, living across in rural areas. Similarly, it is also the key contributor towards the country’s growth in GDP. With the rising investments in the agriculture industry and the expansion of the automobile industry, the demand for heavy duty traps will rise.
This is likely to surge the depletion of the product, thus fueling the regional demand. Based on this, the Asia Pacific region is likely to continue offering signal prospects for the growth of the market through the course of the forecast period. Besides agriculture, the construction & building sector is also growing with the rapid increase in the population, which will act as a growth factor at the regional level.
The major players covered in the heavy duty traps market are
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