According to a recent market study published by Growth Market Reports titled, "Global Cable Ties market by types, materials, applications, sales channels, and by 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.

The global cable ties market has been segmented based on types, materials, applications, sales channels, and region. In terms of types, the Cable Ties market is categorized as Releasable, Non-Releasable, Push Mount, Beaded, Rising Hole, Identification, Heat Stabilized, and Others. On the basis of materials, the market is divided into Nylon, Metallic, Polypropylene, Tefzel, Stainless Steel, and Others. Based on applications, the market is categorized as Electronic Communication, Electricals, Building and Construction Application, Automobile, Agriculture, Retails Goods, Packaging, and Others. In terms of sales channels, the Cable Ties market is categorized as online and offline. By regions, the global Cable Ties market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

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Cable ties offer high binding strength and are not unlocked easily. Cable ties do not contain metal barbs and have one-piece molded mechanism with fastening & self-locking device. Cable ties are used for a diverse range of operations such as bundling of cables with cable ties in extreme conditions and binding bundle of wires. The threat of new entrants in the market is expected to remain high during the forecast period. High usage of cable ties in packaging and organizing wires and cables and low investment required for setting up of manufacturing units are attracting local and domestic players to enter the market. Direct alternatives are available in the market. Internal substitutes for cable ties such as twist ties and velcro strips are available, which provide the same benefit as cable ties, which create low threat of substitutes.

As per Growth Market Reports industry analyst Rajas Shirwalkar, the spread of the COVID-19 pandemic has had a serious impact on the society and overall economy of the world. The impact of COVID-19 is growing by the day and affecting the supply chain of the industries. The coronavirus pandemic is increasing uncertainty among consumers buying behavior, thus slowing the supply chain, increasing panic among customers, and reducing business confidence. Certain discrepancies in production and supply chain are creating mild disruption across some areas in the supply chain of the Cable Ties market. Conversely, revenue from the cable ties market is anticipated to grow at a rapid pace, due to its increasing use in various industries such as pharmaceuticals and electronic communication.

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.

Report Scope:

Report Metric

Details

Market Value in 2020

USD 1,621.4 Million

Market Growth Rate (from 2021 to 2028)

4.8%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Materials, Applications, Sales Channels, and Regions.

Region Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Key Companies Profiled

AVERY DENNISON CORPORATION, Advanced Cable Ties, Inc., HellermannTyton, 3M, Essentra Private Limited., Acme Seals Group of Companies, and CABLECRAFT.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Demand Side: Electronic communication, electricals, building and construction, automobile, agriculture, retails goods, packaging, and among others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies. International Trade Centre, National Fastener Distributors Association (NFDA), Specialty Tool and Fastener Distributors Association (STAFDA), Industrial Supply Association (ISA), Mid-West Fastener Association (MWFA)