Market Highlights:
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, global Nylon Cable Ties market was valued at USD 102.3 million in 2016 and is predicted to grow at low CAGR of 4.24% to reach USD 135.7 million by the end of 2023. As per the industry experts, the market is expected to grow significantly in the coming years due to low entry barriers linked with low initial investment to start production cost. Consumer goods sector comprises the diverse applications; for plastic goods. Therefore, the industry also offers equivalent application scope for nylon cable ties and is has sets its increasing consumption. Nylon ties provide high ease during the use as well as convenience and it is suitable for the range of applications in FMCG sector. Hence, the industry could be an important consumer of nylon ties over the forecast period.
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Segment Analysis:
The global nylon cable ties market is segmented into type, application, and region. Market segmentation based on type includes nylon 6, nylon6, 6 and others. Entire specialty nylon cable ties market is categorized under others segment and are preferred rarely. Nylon 6 segment dominated the global market and is accounted for 58.23% global shares in 2016. Price effectiveness of nylon 6 over nylon 6, 6 is one of the factor favored for the demand of nylon 6. Naturally, nylon 6 exhibit relatively greater proper tiers that nylon 6 such as abrasion resistance, better bending fatigue and retention of properties on repeated use. Due to which the overall adoption of nylon 6 has been seen increasing and resulting into market domination. Nylon 6, 6, the second largest segment held substantial shares and it is expected to progress in terms of market share in the coming years. This is due to specificity of nylon 6, 6 cable ties in specialized applications.
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Furthermore, on the basis of application the global market has been segmented into electrical electronics, building construction, agriculture, automotive, consumer good, industrial, and others. The major purpose of nylon cable ties is to tie cables together, thus, electronics and electrical industry is a prominent end use industry. The industry dominated global nylon cable ties market and acquired 26% of the global market growing at 4.02% CAGR. Automotive, agriculture, construction and consumer goods are the important end users of nylon cable ties and are contributing equally to the global demand. Consumer goods specifically, is emerging as the largest consumer after electrical and electronics, on account of customized as well as diverse range of applications demanded by this industry. This industry is expanding at 4.94% CAGR as of 2016, which is the third highest growth noted after electrical electronics and agriculture industry in this market.
Regional Analysis:
The global nylon cable ties market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East Africa. According to the MRFR analysis, North America was the most promising region in terms of consumption as of 2016. The region has accounted for the largest market share of 35% followed by Asia Pacific at 29%. Proximity to raw material and presence of established plastic industry are the key factors behind the growth of this region. The U.S. is majorly driving the growth in the North America nylon cable ties market. Moreover, increasing construction repair activities across the North America region encouraging the overall demand. Along with this, infrastructural development is also expected to drive the regional demand over the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape analysis of key vendors.
This research report provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios strategies, of the Global Nylon Cable Ties, including the high-growth regions and their political, economic and technological environments. Furthermore, the project report also provide the views over the historical market values as well as, pricing and cost analysis of the same.
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