The global padlock seals market in the year 2019 is expected to generate revenue from key applications such as drums, trailers, tool boxes, etc. in the coming years. The global padlock seals market is expected to create considerable incremental opportunity over the forecast period, due to budding market opportunities from transportation and aviation market sector.
High growth rate is observed for manufacturers targeting production of tamper evident padlock seals and corrosion resistant. The market growth is supported by increasing number of airline services with low cost carrier facility during the forecast period.
The global market for padlock seals is being driven by growing airline industry in the last five years. United States is anticipated to witness significant share in padlock seals owing to the increased air passenger traffic in the last five years.
According to the World Bank, there is almost 5% increase in air passenger traffic from 2017 in the United States itself. Therefore, transportation segment is expected to generate considerable incremental opportunity for the global padlock seals market.
The global market for padlock seals is characterized by supply of security solutions with convenient and effective functionality. Padlock seals offers free movement in locking mechanism. Padlock seals are available in different colors along with several features such as tamper-evident and UV proof.
Padlock seals are also incorporated with different printing technologies such as laser and hot-stamping in order to cater extensive customer preferences. High strength metal padlocks have emerged as an ideal solution for securing tool boxes, drums, metering systems, etc.
Manufacturers in the market are producing UV proof padlock seals to ensure color consistency and enhanced shelf life. The global market for padlock seals have witnessed a shift towards metal wire padlock seals from plastic ones as metal wire padlocks are more environment friendly.
Geographically, the global padlock seals market is segmented into seven key regions including North America, Europe, Latin America, South Asia, East Asia, Oceania and Middle East and Africa (MEA). North America is anticipated to remain on the top in the global padlock seals market during the forecast period.
Rising population along with increasing disposable income tends to create demand for security seals which in turn leads to increased market of padlock seals in the market during the forecast period. High growth markets such as China, India and other ASEAN countries is estimated to witness positive potential in the global padlock seals market.
Some of the key manufacturers in the global padlock seals are as follows:
Many unorganized and regional players are also involved in the manufacturing of padlock seals in the global market
Manufacturers of padlock seals are particularly involved in manufacturing of advanced padlock seals in order to cater the demand from various end users. High technological standards and guarantee of accuracy in manufacturing capabilities allows padlock seals manufacturers to capture and retain high value business opportunities from existing and new clients.
Mega Fortris Group has launched slim, flat and easy to use padlock seal known as “Airline Podlock” which finds application in airline bags, food catering boxes and communication industries.
The report on Padlock seals market is a compilation of first-hand information, and qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. Padlock seals market also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of product type, global padlock seals market can be segmented as:
On the basis of material, global padlock seals market can be segmented as:
On the basis of application, global padlock seals market can be segmented as:
Padlock Seals Market
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