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Cost-effective Plastic Cable Ties Market Grows with CAGR of 4.76% - QYResearch Report

Author: QYResearch  |   Published Date: 2021-03-15   |   Views: 117

Newest report from QYR revealed that, the global Plastic Cable Ties market was valued at US$ 1142.59 million in 2020 and will reach US$ 1692.16 million by the end of 2027, growing at a CAGR of 4.76% during 2021-2027.

A cable tie (also known as a hose tie, zip tie, or by the brand name Ty-Rap) is a type of fastener, for holding items together, primarily electrical cables, and wires. Because of their low cost, ease of use, and binding strength, cable ties are ubiquitous, finding use in a wide range of other applications. The common cable tie, normally made of nylon, has a flexible tape section with teeth that engage with a pawl in the head to form a ratchet so that as the free end of the tape section is pulled the cable tie tightens and does not come undone.

Global Plastic Cable Ties Market- Key Players

HellermannTyton, Thomas & Betts, Hua Wei, Changhong Plastics Group, Panduit, Longhua Daily, Hont Electrical, American Elite Moulding, Igoto Electric, Shanghai Xinlong Plastic, Advanced Cable Ties, KSS, Avery Dennison, Yongda Plastic, SapiSelco, Yueqing Huada Plastic, YY Cable Accessories, Yueqing Xinguang, Fengfan Electrical, Novoflex, HuoJu Plastic, Yueqing Zhengde Plastic, Yueqing Yu Tai Plastic, KST, Cabac, YueQing ZhongYe Plastics, are some key suppliers in the market.

The industry is not highly concentrated, and the main manufacturers are located in Eastern China, the United States and Europe. HellermannTyton, Thomas & Betts, Hua Wei, Changhong Plastics Group, Panduit, Longhua Daily, Hont Electrical and American Elite Moulding are the main players in this industry. Among them, in terms of revenue, HellermannTyton is the world's largest player, occupying a 12% market share. Generally speaking, the ex-factory prices of European and American manufacturers are much higher, and many Chinese manufacturers have become OEM manufacturers of European and American manufacturers.


Global Plastic Cable Ties Market: Segmental Analysis

On the basis of product type, PA66 Cable Tie, PA6 Cable Tie, PA12 Cable Tie, PA46 Cable Tie, PP Cable Tie, PE Cable Tie, PTFE Cable Tie are analyzed in the report. PA66 Cable Tie is the largest segment and most widely used. In 2020, more than 76% plastic cable ties are PA66 Cable type. Nylon 6/6, the grade most often used for cable tie production, meets UL 94V-2 flammability ratings. Its working temperature range is from -40° F to 185° F. Nylon 66 cable tie can more frequently used when high mechanical strength, rigidity, good stability under heat and/or chemical resistance are required than other type.

The global plastic cable ties market is anticipated to exhibit significant growth during the forecast period in response to their growing popularity in various end-use industries. Nylon cable ties are cost-effective and easy to use, which make their use very convenient in automotive, electronics and electrical, and constriction applications. They significantly adopted to hold wire bundles during assembly in electronics and automotive products. As a result, increase in automotive and electronics production output drives the growth of this market. Furthermore, rise in penetration of nylon cable ties in the consumer goods industry further fuels the market growth. Since nylon is the core material used in these cable ties, stringent regulatory policies on the use of plastic is one of the major factors that is expected to hamper the growth of the global nylon cable ties market.


Read More Information: https://www.qyresearch.com/index/detail/2929844/global-plastic-cable-ties-industry-research-report-growth-trends-and-competitive-analysis-2021-2027


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