Global Cable Ties Market Projected to Gain USD 2,290.7 Million by 2028, With a Healthy CAGR Of 4.8% | Growth Market Reports
PUNE, India, Dec. 23, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled, "Global Cable Ties Market by Types (Releasable, Non-Releasable, Push Mount, Beaded, Rising Hole, Identification, Heat Stabilized, and Others), Applications (Electronic Communication, Electricals, Building and Construction Application, Automobile, Agriculture, Retails Goods, Packaging, and Others), Materials (Nylon, Metallic, Polypropylene, Tefzel, Stainless Steel, and Others), Sales Channels (Online and Offline), and Regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 1,621.4 Million in 2020 and is expected to grow at a healthy growth rate of 4.8% by the year 2028. The global cable ties market is anticipated to grow significantly during the forecast period. Increasing applications of cable ties across various sectors, ease of use, and rising demand for cable ties in developing economies are some of the factors contributing to market growth.
Key Market Players Profiled in the Report
- AVERY DENNISON CORPORATION
- Advanced Cable Ties, Inc.
- HellermannTyton
- 3M
- Essentra Private Limited.
- Acme Seals Group of Companies
- CABLECRAFT
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Cable Ties Market
In terms of types, the global cable ties market is segmented into releasable, non-releasable, push mount, beaded, rising hole, identification, heat stabilized, and others. Releasable cable ties are reusable and are used for any wire and cable bundling needs that require changes in the future. They are known as reusable cable ties and reusable zip ties and are ideal for use in homes or offices.
On the basis of materials, the market is classified into nylon, metallic, polypropylene, tefzel, stainless steel, and others. Nylon is the most common material for cable ties. It is a tough material that offers good abrasion and thermal resistance. It has the capability to resist fuels and most chemicals. Nylon 6/6 is used in cable ties, as it meets UL94 V-2 flammability ratings and offers a working temperature range from -40°F to 185°F.
Based on applications, the global cable ties market is segmented into electronic communication, electricals, building and construction, automobile, agriculture, retails goods, packaging, and others. The building and construction segment employs the usage of building materials such as cement and sand. Nylon cable ties or zipper ties are used to seal the packets of building material to prevent spillage. Electronics used in construction such as drilling machine and flooring machine use cable ties to prevent damage of electrical wires.
In terms of sales channels, the market is divided into online and offline segments. Online retail of cable ties creates lucrative opportunities for players to showcase their products through company websites or shopping websites. Customers easily order the desired products with hassle-free payment gateways and delivery. Emergence of pandemic period increased the demand for online purchases as social distancing and sanitization protocols need not be followed during online purchase of cable ties. All these factors foster the growth of the online segment during the forecast period.
On the basis of regions, the Cable Ties market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2020 and the market in Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period. The cable ties market is growing in North America, owing to increasing investments in innovations for cable ties in the region. China accounts for a significant market share, due to increasing demand for cable ties in industrial equipment and automotive applications, which in turn, drives the market in Asia Pacific. Rising number of cable tie manufacturers in North America and increasing technological advancements are expected to fuel the cable ties market in this region.
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Key Takeaways from the Study:
- The market in the North America is expected to grow at a rapid pace owing to the increasing investments in innovations for cable ties in the region. The market in the US is expected to grow at a significant pace, due to advancements in technology and emergence of key players. Increasing demand for cable ties is attributed to its usage in industries such as pharmaceuticals, agriculture, and construction.
- The cable ties market in Europe is anticipated to grow at a substantial pace during the forecast period owing to the technological advancements.
- The cable ties market in Asia Pacific is expected to grow significantly during the forest period owing to increasing domestic production and advancements along with high growth and development in the region.
- The building and construction segment is expected to hold a significant share of the market, owing to urbanization in various countries, leading to development of new buildings. Nylon cable ties or zipper ties are used to seal the packets of building material to prevent spillage.
- Electronics used in construction such as drilling machine and flooring machine use cable ties to prevent damage of electrical wires. The building and construction segment is expected to hold a significant share of the market, owing to urbanization in various countries, leading to development of new buildings.
- Nylon is the most common material for cable ties. It is a tough material that offers good abrasion and thermal resistance. It has the capability to resist fuels and most chemicals. Nylon 6/6 is used in cable ties, as it meets UL94 V-2 flammability ratings and offers a working temperature range from -40°F to 185°F.
Read 235 Pages Research Report with Detailed ToC on "Global Cable Ties Market by Types (Releasable, Non-Releasable, Push Mount, Beaded, Rising Hole, Identification, Heat Stabilized, and Others), Applications (Electronic Communication, Electricals, Building and Construction Application, Automobile, Agriculture, Retails Goods, Packaging, and Others), Materials (Nylon, Metallic, Polypropylene, Tefzel, Stainless Steel, and Others), Sales Channels (Online and Offline), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Types
- Releasable
- Non-releasable
- Push Mount
- Beaded
- Rising Hole
- Identification
- Heat Stabilized
- Others
By Materials
- Nylon
- Metallic
- Polypropylene
- Tefzel
- Stainless Steel
- Others
By Applications
- Electronic Communication
- Electricals
- Building and Construction
- Automobile
- Agriculture
- Retails Goods
- Packaging
- Others
By Sales Channels
- Online
- Offline
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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