Global Cable Tie Market: Overview
Cable ties have to be able to meet the most diverse demands these days as they are used in the widest range of operations – from the simple bundling of cables with cable ties to the unconditionally specific use of cable ties under extreme conditions. Cable ties are known by many different names counting zip tie, wire tie, zipper tie, wire wrap, hose tie, rat belt, and mouse belt
Cable Ties are sturdy having a Nylon tape with an integrated gear rack on one end a ratchet within a small open case it is an economical and versatile method of Cable/Wire bunching systems, etc. Cable ties are known by numerous names e.g. non-releasable or releasable tags, straps, zip ties, tie wrap, rat belt etc. and produced & sold in different sizes as per requirement of the customers to Customer. Cable ties are a one piece molded mechanism with no metal barbs or burdensome wedges having fastening & self-locking device. The variety of cable ties are added by noticeable cable ties with metal components for the food industry or dual fastener cable ties for the similar guiding of cables and leads in the automotive industry.
Cable ties are simply available with wide variety of products due to the modest industrial process and require comparatively smaller investments to set-up production units. Moreover, there are limited entry obstacles for new entrants, as a result, local manufacturers are dominant across the globe. The market for cable ties are motivated by durable and lightweight materials in demand. Upsurge in demand from the developing economies, increase in production and demand electronics and automobiles across the country. Apart from the advantages of the cable tie there are disadvantages like the environmental concerns related to the disposal of the plastic products, and the varying crude global crude oil price impacts the overall cable and tie market.
Global Cable Tie Market: Key Segments
The cable tie market is segmented in seven broad categories which are releasable cable tie, Non- releasable cable tie, and Beaded cable tie, push mount cable tie, rising hole cable tie, identification cable tie, and heat stabilized cable tie.
Volatility in raw material prices and high competition in the market are expected to affect profit margins of the manufacturers. Cable tie manufacturers are expected to enlarge geographical reach in order to get hold of consumers from niche markets and decrease their dependency on the third-party suppliers. Numerous regional cable ties vendors are offering modified solutions at lesser prices than international vendors for growing their presence in the world cable ties industry. The new vendors are entering the cable ties market, they find it difficult to compete with the international cable ties vendors based on factors such as quality, features, functionalities, and services.
Based on region, the global cable tie market can be classified into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the global cable tie market during the forecast period followed by North America, holds major share of the global cable tie market in terms of value. Europe and the North America together constitute more than 50% of the total cable tie market share. The market in Middle East & Africa, followed by that in Latin America, is slated to witness significant growth during the forecast period.
A few countries in Asia Pacific region are inclined toward implementation of environment developments, construction works and Industrial development. This is likely to augment the demand for cable tie market in the next few years. Thus, emerging and developed nations are expected to gain significant share of the cable tie market in the next few years. Additionally, sales of cable tie market in Asia Pacific and Middle East & Africa are projected to increase significantly in the near future.
Global Cable Tie Market: Key Players
Key players operating in the global cable tie market are 3M, ACT Fastening Solutions Bay State Cable Ties, Bontley Electric, Acme Seals Group of Companies, Avery Dennison, Brand IT-IDEX Inc., Helllarmanntyton Ltd., Novoflex Marketing Pvt. Ltd., Panduit Corporations, Partex Marking Systems, Rs Components, Sapiselco, Surelock, and Thomas & Betts Corporation
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