Press release
Global Nylon Cable Ties Market in 2020: What Does the Year Ahead Hold?
Nylon Cable Ties
As per the study of Research Dive, nylon cable ties market has forecast a revenue of $248.5 million in the year 2026 growing at CAGR of 8.4%.
Nylon cable ties, frequently called as zip ties, wire ties, or hose ties, are a sort of latch used for holding things together such as electrical wires. They offer features such as convenience and heat resistant. Enormously rising real estate and automobile industry, coupled with massive requirement of nylon cable ties, is projected to boost the growth of market. Moreover, advantages such as being user-friendly and low cost are offered by the nylon cable ties in most of the industries is estimated to drive the demand for nylon cable ties across the globe. On the contrary, legal limits on the use of micro-plastics and plastics along with Price fluctuations of the oil prices is anticipated to restrain the growth of nylon cable ties market. Nylon cable ties are majorly utilized in agriculture, building & construction, and electronic gadgets. Newly innovated metal detectable nylon cable tie allows identification by x-ray inspection to meet food and pharmaceutical safety standards. These nylon cable ties are with locking wedge that provides reliable installation to improve productivity.
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Nylon 6 segment is the dominant share in global nylon cable ties market; it will generate a revenue of $153.8 million by the end of 2026, at a CAGR of 8.1% till 2026. This segment has enormous opportunities due to low cost of nylon 6 than nylon 6, 6. Moreover, nylon 6 exhibits high mechanical strength, good fatigue resistance and impact resistance along with high toughness and stiffness. Therefore, overall adoption of nylon 6 is growing rapidly, and this is anticipated to foster the nylon cable ties market growth.
Nylon cable ties market size of nylon 6 will generate a revenue of $72.1 million by 2026, increasing at a CAGR 8.8%; this is mainly due to the key advantages of nylon cable ties such significant wear resistance, better electrical insulation properties, no resistance to UV rays and excellent oil and fuel resistance. Moreover, crystalline melting point and tensile strength of nylon 6,6 (around 8.2 x 104 kPa) is higher than that of nylon 6, which is anticipated to impel the growth of market.
Electronics and electricals segment have major share and is expected to generate a revenue of $73.3 million by the end of 2026, growing at a CAGR of 7.7%; this is mainly owing to massive demand for nylon cable ties to fasten the electrical wires and cables together. Therefore, electronics and electrical industry is a dominant end use industry.
On the other hand, automotive segment is significantly growing due to rising industrialization, rapid growth in product development as well as heavy investment for R&D of luxurious vehicles. Moreover, increasing demand for automotive manufacturing & assembly equipment coupled with extensive use of nylon cable ties in assembly of automobile is projected to boost the growth of global market. Automotive segment for Nylon cable ties market shall cross $34.5 million in 2026, growing at a healthy CAGR 9.2%.
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North America Nylon cable ties market size will cross $74.9 million in 2026, increasing at a CAGR of 8.8%. North America nylon cable ties market is expected to increase at a fast rate owing to the fact that established companies of nylon cable ties such as Thomas & Betts Corporation are in Canada and the U.S. Moreover, massive surge in robotics related activities, rising demand for computer products and consumer electronics are anticipated to fuel the market growth of this region.
Asia-Pacific Nylon cable ties market share is dominant and it is projected to grow at a CAGR of 8.2% by generating a revenue of $89.9 by 2026, significantly due to this region is more focusing on Industrial development and construction works such as infrastructure renovation. In addition, the massive growth in adoption of Internet of Things (IoT) and 5G in Asian counties such as Japan Taiwan and China is anticipated to hike the global market.
Moreover, the major sales of nylon cable ties occur in developed as well as developing countries such as Taiwan, China and India; therefore, it is anticipated to drive the growth of nylon cable ties market.
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Some of the major nylon cable ties market players are: Changhong Plastics Group Imperial Plastics Co., Ltd., Ascend Performance Materials, ABB Installation Products Inc., KSS, American Elite Molding, Hont Electrical Co.,Ltd., Hellermann Tyton, Partex Marking Systems, YUEQING HUADA PLASTIC CO., LTD. And 3M. Significant nylon cable ties
market players are initiating various steps in order strengthen their presence such as merger & acquisitions and new product development. For example, 3M is offering steel and nylon-based cable ties that offer superior strength and capability to precisely fasten tie.
Mr. Abhishek Paliwal
Research Dive
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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