PUBLISHER: Orion Market Research | PRODUCT CODE: 1078073
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078073
Global Cable tie Market Size, Share & Trends Analysis Report by Material Type (Nylon, Metal, and Others), by Product Type (Releasable, Non-releasable, Beaded, Push Mount, Mounting Holes, Identification Cable Tie, Heat Stabilized Cable Tie, and Others), and by Application (Electronics and Electricals, Automobile, Consumer Goods, Construction, and Others) Forecast (2022-2028)
The global cable tie market is anticipated to grow at a substantial CAGR of 8.0% during the forecast period. The Made in China (MIC) 2025 plan signifies that China's manufacturing sector is large; however, not strong coupled with the gaps in innovation capacity, quality of industrial infrastructure, the efficiency of resource utilization, and degree of digitalization. As a result, the government decided to conduct the task of upgrading and accelerating technological developments. This shows government support for the expansion of industrial facilities in the country and thereby, boosting the global cable tie market growth.
The global cable tie market is segmented based on the material type, product type, and application. Based on the material type, the market is segmented into nylon, metal, and others. Based on, the product type the market is sub-segmented into the releasable, non-releasable, beaded, push mount, mounting holes, identification cable tie, heat stabilized cable tie, and others. Further, based on application, the market is sub-segmented into electronics and electrical, automobile, consumer goods, construction, and others. Based on material type, nylon cable tie is highly demanded in the market during the forecast period. Nylon cable ties are widely used in the electronics and electrical industry as it regularly deals with a complication related to bundles of cables during electric installation. Nylon cables are also used in chargers. For instance, in May 2019, Digitek announced the launch of its latest collection of nylon braided cables for smartphones. The company has rolled out three types of nylon cables for the Indian market. These include one micro USB, one Type C, and one lightning cable.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is anticipated to hold a considerable share in the global cable tie market. According to the International Renewable Energy Agency (IRENA), the US of America installed 29 GW of renewables last year, nearly 80 percent more than in 2019, including 15 GW of solar and around 14 GW of wind.
The major companies serving the global cable tie market include BASF SE, Clariant International Ltd., LyondellBasell Industries Holdings B.V., Dow Chemical Co., Universal Cable tie LLP, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2019, DuPont Transportation & Industrial launched its new DOW CORNING AMB-12235 cable tie for polyethylene (PE) blown film. The cable tie combines an anti-block agent with a compatible slip additive to improve film processing and ensure consistent quality.
Research Methodology
The market study of the global cable tie market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category- Plastics and Polymers