Growing Range of End Uses to Drive Nylon Cable Ties Market

The global nylon cable ties market is expected to grow at a steady 4.24% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global nylon cable ties market was valued at USD 102.3 million in 2016 and is expected to rise to a valuation of USD 135.7 million by 2023. The latest research report from Market Research Future (MRFR) profiles the global nylon cable ties market and provides a detailed overview of the market’s likely growth trajectory over the forecast period till 2023. The major drivers and restraints affecting the global nylon cable ties market are profiled in detail in the report to provide readers a clear overview of what is affecting the market most significantly. The leading factors affecting the market positively as well as negatively are profiled in the report, providing readers a clear view of the market’s movement. Major players operating in the global nylon cable ties market are also profiled in the report.

Nylon cable ties have acquired a wide range of applications due to their easy usability and low costs. Despite their low costs, nylon cable ties present significant physical durability and strength, leading to widespread usage across a wide range of applications. The growing demand for nylon cable ties in electrical and electronics applications is likely to be a major driver for the global nylon cable ties market over the forecast period. Nylon cable ties can be used to tie together multiple wires and cables, making them a highly efficient way of doing the same. The cheap cost of nylon cable ties makes them highly useful for electrical applications, leading to a steady growth in demand over the forecast period. Nylon cable ties are also an insulator, making them perfect for use with live wires, where conventional mental connectors may be useless.

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Nylon cable ties are also widely used in automotive, agriculture, and building and construction applications, leading to a growing demand from the global nylon cable ties market. Agriculture is likely to be a key application segment for nylon cable ties over the forecast period due to the growing acceptance of the product in emerging countries such as India and China. The building and construction industry is also a major end user of nylon cable ties and is likely to remain a key contributor over the forecast period. Nylon cable ties are also widely used in the retail sector, which is likely to be a major driver for the global nylon cable ties market over the forecast period.

Competitive Leaderboard:

Leading players in the global nylon cable ties market include American Elite Molding, KSS, Partex, HONT Electrical Co. Ltd., Yueqing Huada Plastic, Changhong Plastics Group, Thomas Betts Corporation, Hellermann Tyton, 3M, and Ascend Performance Material. Major players in the global nylon cable ties market are likely to focus on production capacity expansion in the coming years, as the demand for nylon cable ties is likely to increase from various applications over the forecast period.

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Segmentation:

The global nylon cable ties market is segmented on the basis of type, application, and region.

By type, the global nylon cable ties market is segmented into nylon 6, nylon 6,6, and others.

By application, the global nylon cable ties market is segmented into electrical and electronics, building and construction, automotive, agriculture, consumer goods, industrial, and others. The electrical and electronics sector holds the largest share in the global nylon cable ties market and is likely to remain the leading application segment over the forecast period. The segment accounted for 26% of the global nylon cable ties market in 2016. The building and construction industry holds the second largest share in the global nylon cable ties market.

Regional Analysis:

North America holds the largest share in the global nylon cable ties market, accounting for 35% of the global nylon cable ties market in 2016.