North America emerged as a global leader in nylon cable ties market and can be seen struggling to retain their global leadership during the forecast period
Geographically, the nylon cable ties market is divided into five key regions, Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. North America emerged as a global leader among all region and accounted for largest market shares of 34.51% in 2016.
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Market Research Future (MRFR) recognizes the following companies as the key players in the global Nylon Cable Ties market: Ascend Perfomance Material (U.S.), 3M (U.S.), Hellermann Tyton (U.K), Thomas & Betts Corporation (U.S.), Changhong Plasctoc group (China), Yueqing huada Plastic (China), HONT Electrical Co. Ltd (China), Partex. (Sweden), and KSS (Taiwan) and American Elite Molding (U.S.)
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.
This region has dominated the global nylon cable tie market both in terms of value and volume by growing at 4.24% and 3.75% respectively. Although, North America is expected to be overtaken by Asia Pacific in terms of market shares due to emerging demand in Asian economies.
North America market consist of major markets such as the U.S. and Canada which are driving the demand. Construction repair activities are witnessed being increasing in this region and is providing fuel for the demand for nylon cable ties. Moreover, presence of established plastic industry in this region has played role of game changes and led this region to dominate the global market. According to the American Chemistry Council, overall plastic industry in North America was valued at USD 152.2 billion in 2016, increasing at steady growth rate of 1.2% annually. Such huge base of plastic manufacturing in this region has set to enhance the use of nylon cable ties. Although, the production as well as consumption of plastic likely to be hampered due to the regulatory issue linked with increasing environmental concerns.
Following North America, Asia Pacific was the second largest market and is growing at the highest CAGR of 5.34% as of 2016. The region has acquired around one third of the market and it is expected to overtake the North American growth in the coming years. The emerging economies in this region such as China, India and Japan belong to the respective industrial growth including automotive & construction, agricultural and electronic & electrical.
Therefore, demand for nylon cable ties is getting influenced positively by the aforementioned industries and projected grow consequently in the coming years. Europe is another growth potential market for nylon cable ties, which has shown progressive demand year by year. However, presence of stringent regulatory bodies such as European Union and others in this region has challenged the regional demand. Such regulatory bodies are preventing the consumption of plastic in order to eliminate environmental concerns, thus restricting demand.
Latin America is a relatively smaller region for the growth of this market, which includes some of the key economies such as Mexico, Brazil, and Argentina. Growing industrialization, strong agricultural base Brazil and increasing adoption of nylon cable ties are some of the growth driving factors observed in this region. The Middle East & Africa expected to provide positive demand in the coming years drive by increasing investment activities by industry participants. These activities are being seen in countries such as Turkey, Saudi Arabia and Qatar.
Moreover, Latin America along with the Middle East & Africa region anticipated to emerge as substantial regions on account of growing industrial output and economic reforms. This in turn will avail growth opportunities in both of these regions in the coming years
The key players of nylon cable ties report includes Ascend Perfomance Material (U.S.), 3M (U.S.), Hellermann Tyton (U.K), Thomas & Betts Corporation (U.S.), Changhong Plasctoc group (China), Yueqing huada Plastic (China), HONT Electrical Co. Ltd (China), Partex. (Sweden), and KSS (Taiwan) and American Elite Molding (U.S.)
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4.1 Introduction 20
4.2 Drivers 22
4.2.1 Wide Application Area Along With Its Respective Growth 22
4.2.2 Significant Demand By Emerging Economies Of Asia Pacific 23
4.3 Restraints 24
4.3.1 Unstable Crude Oil Prices Coupled With Regulations Pertaining To The Use Of Plastic Products 24
4.4 Opportunities 25
4.4.1 Relatively Smaller Investment To Set Up Production 25
4.4.2 Limited Market Entry Barriers 25
4.5 Market Trends 25
4.5.1 Increasing Adoption In Consumer Goods 25
Market Factor Analysis:
5.1 Supply Chain Analysis 26
5.1.1 Raw Material 26
5.1.2 Manufacturers 26
5.1.3 Distributers 27
5.1.4 End Users 27
5.2 Porter 5 Forces Analysis 28
5.2.1 Competitive Rivalry 28
5.2.2 Threat Of New Entrants 28
5.2.3 Threat Of New Substitute 29
5.2.4 Bargaining Power Of Suppliers 29
5.2.5 Bargaining Of Consumers 29
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