Global Nylon Cable Ties Market Will Surpass USD 256 million by 2031
The global nylon cable ties market is anticipated to increase to USD 256.1 million by 2031 from USD 134.2 million in 2020, with a CAGR forecast of 9%. Nylon cable ties are hose ties, zip straps, wire ties, zip ties, and steggel ties that are widely known as brand names such as Panduit strap and Ty-Rap and are mostly used to link objects together in electrical wires and cables. The use of nylon cable ties in various applications offers various opportunities such as low cost and widespread availability, as well as ease of use, which boosts the nylon cable ties industry in the global market. The nylon cable ties industry is expected to expand exponentially in the global market due to a rise in demand for nylon cable ties in the automobile and construction industries. Furthermore, the use of nylon cable ties in industrial machinery and machines increases arrangement performance, which accelerates the growth of the global nylon cable ties industry.
Browse ThinkWise Intelligence's exclusive report, spread through 248 Pages on: GLOBAL NYLON CABLE MARKET, BY TYPE (NYLON 6,6, NYLON 6, AND OTHERS) AND APPLICATION BUILDING & CONSTRUCTION, (CONSUMER GOODS, ELECTRONICS & ELECTRICAL, AUTOMOTIVE, AGRICULTURE, INDUSTRIAL, AND OTHERS) – COMPETITIVE LANDSCAPE & GROWTH POTENTIAL ANALYSIS, 2021-2031
THE NYLON 6 MARKET IS THE LARGEST TYPE IN THE GLOBAL MARKET
Nylon 6 is a type of caprolactam monomer material that is simple to handle. Since caprolactam is known for its lustrous surface finish, high impact strength, and stress tolerance, similar properties are also imparted to nylon 6 cable ties, allowing them to provide excellent results. Furthermore, nylon cable ties can withstand temperatures of up to 220°C and have a low mold shrinkage. As a result, these cable links are readily used in harsh weather situations ranging from deep cold to high humidity, fueling global demand.
THE ELECTRONICS AND ELECTRICALS MARKET IS THE LARGEST APPLICATION IN THE GLOBAL MARKET
The electronics and electricals industry is the main use field for nylon cable ties, accounting for the highest nylon cable ties segment in 2020. Nylon cable ties have arisen as the ideal alternative for the electronics and electrical industries, as it often deals with the complications associated with packages of cables or wires during electrical construction. Nylon cable ties aid in the secure routing of cables and wire harnesses at the lowest possible cost. If added, the cable ties' permanent and temporary locking features ensure a close and stable grip. This prevents the risk of wire insulation damage, allowing electronics devices to work for longer periods of time. There are also ULL-certified nylon cable ties on the market, which are particularly useful in electronics applications.
ASIA-PACIFIC NYLON CABLE TIES MARKET IS PROJECTED TO HOLD THE MAJOR SHARE IN THE GLOBAL MARKET DURING THE FORECAST PERIOD
North America is predicted to rise the most in terms of market share in 2020. Wide market players such as Thomas & Betts Corporation and 3M fueled demand for nylon cable ties (nylon) ties. A robot the size of an elephant employed in utility, industrial, logistics, and infrastructure markets will also contribute to the North's increased demand for nylon cable ties. Asia-Pacific will experience the fastest growth. China and Taiwan account for the lion's share of the market. China is by far the largest manufacturer of cable ties in the world. Additionally, increasing demand for 5G networks and IoT in Asian countries is projected to expand the market's overall scale.
Ascend Performance Materials, KSS, ABB Installation Products Inc., Hont Electrical Co., Ltd., American Elite Molding, Changhong Plastics Group Imperial Plastics Co., Ltd., Partex Marking Systems are just a few of the market's major players.