Nylon Cable Tie Market is projected to grow at significant CAGR of 3.7 % over the forecast period (from 2017 to 2022) suggest the findings report available on Radiant Insights, Inc

Growing requirement for durable and cost-effective products is anticipated to be the key factor fueling the demand for nylon cable ties. Also known as hose tie, or zip tie, these cables offer superior properties such as flexibility, ease of use, and resistance from hazardous environments. Such multiple properties make nylon cable ties useful in a variety of industrial applications.

High demand for nylon cable ties in electronic and electrical applications, owing to non-permanent joints offered by these ties, are likely to boost the market growth. Some ties include a tab, which can be depressed to release the ratchet and loosen or remove the tie for multiple uses. Such nylon cable ties can be reused and hence are effective in electrical and electronic applications. In addition, these nylon cable ties are relatively cheaper thus, attracts more consumers thereby contributing toward the global market growth.

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On the other hand, nylon cable ties are made from nylon that requires crude oil as raw material; thus, rising impact of crude oil on environment and instability in its prices may hinder market growth in the forthcoming years. The global nylon cable tie market is segmented on the basis of application and region. Based on application, the market can be segmented into household applications, automotive, logistics & packaging, electrocommunication, building & construction, electronic and electrical. Regional segmentation includes Europe, Asia Pacific, North America, Middle East and Africa, and South America.

In 2016, North America accounted for a significant market share owing to established plastic industry in the region. However, Asia Pacific dominated the global nylon cable tie market and accounted for the highest market share in 2016. Rapidly growing automotive and construction industry in the region is anticipated to further propel the product demand in the coming years. In addition, high demand for nylon cable ties from the emerging economies such as India, China, and Japan are also expected to fuel the region’s development during the forecast period.

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Occurrence of major industrial reforms in China followed by India is also likely to generate demand for nylon cable ties. Moreover, trend of foreign direct investment (FDI) in Asian economies would also influence the product demand in the next few years. In Europe, the nylon cable tie market had witnessed a steady growth in 2016. However, the growth is expected to be on higher side over the forecast years. Countries such as Russia, United Kingdom, Germany, and Belgium are expected to be the major regional markets in Europe.

Some of the leading companies offering nylon cable ties are Changhong Plastics Group Imperial Plastics Co., Ltd.; HONT Electrical Co., Ltd.; Hua Wei Industrial Co., Ltd.; Thomas & Betts, and Wenzhou Longhua Daily Electron Co., Ltd. Most of the companies are focusing on R&D activities to offer innovative and highly-effective products. For instance, RS Components is offer cable ties equipped with Radio Frequency Identification (RFID) tag. These cable ties are made from Nylon 66 material. The RFID tag carries data programmed into a computer chip that can be operated on a wide range of frequencies. Hence, these cable ties can be used in various end-use applications such as asset management, theft prevention, gas cylinder tracking, and baggage tagging.

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