Nylon Cable Ties market research report by type (Nylon 6, Nylon 6, 6 and others), by Application (Electronics & electrical, building & construction, automotive, agriculture, consumer good, industrial, others), and by region - Forecast till 2030

Nylon Cable Ties Market Overview

A hose tie, wire tie, zip tie, zip strap, steggel tie commonly known by brand names of Panduit strap and Ty-Rap which is largely used to hold items together in electrical wires and cables is called nylon cable ties. The use of nylon cable tied in various applications provides various opportunities like low cost and ubiquitous, and ease of use boost the nylon cable ties market in the global market. Moreover, the use of nylon cable ties market in industries like consumer goods, automotive, electrical and electronics, and many others accelerate the growth of nylon ties market in the global market.

It is expected that the nylon cable ties market will grow at a higher According to the MRFR analysis, the Nylon Cable Ties Market was valued at USD 102.3 Million and it is projected to reach USD 135.7 by 2023, expanding at significant CAGR of 4.24%.

COVID 19 Analysis

The situation of the global pandemic of COVID 19 has affected the normal working of people adversely. Now, one has to deal with financial crises along with health issues which pushed the economies towards forced recession. The lockdown situation has resulted in the shutdown of various manufacturing units in the nylon cable ties market which lead to a steep downfall in the sales revenue of the nylon cable ties market.

It is expected that the nylon cable ties market will recover from this pandemic situation by the end of the third quarter of the coming year.

Market Dynamics

Drivers

The nylon cable ties market is expected to grow tremendously in the global market owing to the increase in demand for nylon cable ties in the automotive and construction industries boost the growth of the nylon cable ties market in the global market. Moreover, the use of nylon cable ties in industrial equipment and machines improves the efficiency of arrangement which accelerates the growth of the nylon cable ties market in the global market.

Opportunities

With the increasing demand for nylon cable ties market in the global market, it provides various growth opportunities in the nylon cable ties market in global market. The introduction of metal detectable nylon cable ties is expected to provide growth opportunities in the nylon cable ties industry during the forecasted period. Also, the use of nylon cable ties in farming, electrical gadgets, customer merchandise, and building and development gives enormous opportunities to grow in the nylon cable ties market.

Restraints

The nylon cable ties market is increasing at an increasing rate but some factors restrict the growth of the nylon cable ties market in the global market. Plastic is the main ingredient for manufacturing nylon cable ties and increasing regulations on the use of plastic hinders the growth of the nylon cable ties market. Moreover, the increasing price of oils is another factor that hampers the growth of the nylon cable ties market.

Value Chain Analysis

The nylon cable ties market is growing tremendously in the global market as it has various benefits which add value to society. The nylon cable ties are flexible tape which provides more efficiency as it can be removed or loosened, and even can be reused. With the increase in foreign direct investment in various Asian countries, the nylon cable market is expected to grow more during the forecasted period.

Market Segmentation

The nylon cable ties market in the global market has been divided based on the type, product, application, and region.

Based on the Type

The nylon cable ties market in the global market has been divided based on the type into Nylon6,6, Nylon 6, and many others.

Based on the Product

The nylon cable ties market in the global market has been divided based on the product into PA66 cable ties, PA6 cable ties, and many others.

Based on the Application

The nylon cable ties market in the global market has been divided based on the application into building and construction industry, automotive industry, agricultural industry, electronics and electrical industry, consumer goods industry, and many other industrial sectors.

Based on the Region

The nylon cable ties market in the global market has been divided based on the region into the Middle East and African region, Latin American region, North American region, European region, Asia-Pacific region.

Regional Analysis

The nylon cable ties market in the global market has been divided based on the region into the Middle East and African region, Latin American region, North American region, European region, Asia-Pacific region. The largest market share in the nylon cable ties market in the global market is held by the North American region as this region has a well-established plastic industry which boosts the demand for nylon cable ties market in the global market. Also, this region is expected to grow at a moderate CAGR of 3.35% during the forecasted period.

The second-largest market share in the nylon cable ties market in the global market is held by the Asia-Pacific region, as this region is the fastest-growing region and is expected to grow at a higher CAGR by the end of the forecasted period. Also, owing to the increasing growth of the automotive and construction industries, it accelerates the growth of the nylon cable ties market in this region. India, Japan, and China are the leading market in the nylon cable ties market. The third-largest market share in the nylon cable ties market is held by the European region owing to the presence of powerful countries like Belgium, the U.K., Russia, and Germany which boost the regional growth of the nylon cable ties market followed by the Latin American region, and the Middle East and African region respectively.

Competitive Landscape

The most prominent major market key players in the nylon cable ties market in the global market are as follows

• Ascend Performance Material (U.S.)


• 3M (U.S.)


• Hellermann Tyton (U.K.)


• Thomas & Betts Corporation (U.S.)


• Changhong Plasctoc Group (China)


• Yueqing Huada Plastic (China)


• HONT Electrical Co. Ltd (China)


• Partex (Sweden)


• KSS (Taiwan)


• American Elite Molding (U.S.)

These most prominent major market key players in the nylon cable toes market use various strategies to expand their business overseas by doing a collaboration, developing a new production process, developing a new product, innovation in the existing product, mergers, and acquisitions, partnership, establishing a new joint venture to expand their customer base in the potential global market.

Recent Developments

The North American region holds the largest market share in the global market owing to the presence of the U.S. as it has been observed that the U.S. market grows at a high CAGR of 4.38% to account for a higher market value of approximately USD 22.8 million during the forecasted period.

Asia-Pacific region is the fastest-growing region is expected to take the position of the North American region in the nylon cable ties market in the global market as it is expected to grow at a higher CAGR than the North American region which is expected to be 5.34% during the forecasted period.HONT Electrical Co. Ltd (China) is adopting various strategies to tackle the losses which were occurred during the global pandemic situation of COVID 19 to sustain its market position in the nylon cable ties market.Ascend Performance Material (U.S.) is spending a huge amount of money as an investment in research and development which will benefit the company in the nylon cable ties market in the long run.

Report Overview

The global nylon cable ties market research report consists of the following elements

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Landscape


• Recent Developments

This global nylon cable ties market research report contains various factors that drive the nylon cable ties market in the global market along with the factors that restrict the growth of the nylon cable ties market. The growth opportunities available in the nylon cable ties market in the global market are mentioned. The impact of COVID 19 in the nylon cable ties market is mentioned. The future growth rate in the nylon cable ties market is also estimated and mentioned.

Users Nylon cable ties manufacturers, traders, and distributors of nylon cable ties, production process industries, potential investors, raw material suppliers, and many others.