The cable ties global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cable Ties Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cable ties market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth of the electrical industry, expansion of telecommunications networks, growth in population, expanding construction industry, and surging applications in the pharmaceutical processing and food and beverage sector.
The cable ties market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing demand for data centers, increase in renewable energy projects, increasing demand for cable ties for interior wiring and cable management, rising adoption of automotive and aerospace industries, and growth of sustainable and recyclable cable ties. Major trends in the forecast period include innovating to develop cable ties with improved strength, durability, and resistance to environmental factors, advances in material science, smart cable ties with integrated sensors for temperature and strain monitoring, technological advancements in cable ties, and advent of metal detachable cable ties.
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Scope Of Cable Ties Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cable Ties Market Overview
Market Drivers –
The expansion of the construction industry is expected to propel the growth of the cable ties market going forward. The construction industry involves the planning, designing, and building infrastructure, including residential, commercial, and industrial projects. It encompasses various sectors such as civil engineering, building, and specialized construction services. The expansion of the construction industry is due to industrialization and urbanization, housing demand, sustainable practices, infrastructure development, and demographics. Cable ties are valued in construction for their versatility, ease of use, and ability to provide quick and practical solutions to various organizational and support challenges. For instance, in November 2023, according to a report published by the Office for National Statistics, a UK-based statistics authority, total new construction work output rose by 15.8% in 2022, hitting a record-breaking value of $166,236.25 million. Therefore, the expansion of the construction industry drives the cable ties market.
Market Trends –
Major companies operating in the cable ties market are focused on developing innovative products such as metal-detectable cable tie compounds to enhance safety and compliance in industries such as food processing and pharmaceuticals, where contamination control is critical. Metal-detectable cable tie compounds are specialized materials used to manufacture cable ties that can be easily detected by metal detection or X-ray inspection systems. These compounds are suitable for other applications requiring hazard analysis and critical control points (HACCP) management, essential for maintaining food safety. For instance, in September 2023, Ascend Performance Materials LLC, a US-based company that manufactures chemicals, launched Pre-colored, metal-detectable Vydyne PA66 and metal-detectable cable tie compounds. The Vydyne PA66 compounds are engineered to ensure that even small metal particles are detectable by standard detection equipment. Testing has shown that fragments as small as 1 mm can be reliably identified using X-ray imaging techniques. By reducing the need for additional tolling or masterbatch processes, these compounds simplify production for cable tie manufacturers. This allows for immediate usability right out of the box, enhancing operational efficiency.
The cable ties market covered in this report is segmented –
1) By Type: Releasable Cable Ties, Non-Releasable Cable Ties, Push Mount Cable Ties, Beaded Cable Ties, Rising Hole Cable Ties, Identification Cable Ties, Heat Stabilized Cable Ties
2) By Raw Material: Metal, Nylon, Other Raw Material
3) By End-User Industry: Electronics And Electrical, Building And Construction, Automotive, Consumer Goods, Marine, Other End-User Industry
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Regional Insights –
North America was the largest region in the cable ties market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cable ties market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cable ties market are 3M Company, ABB Installation Products Inc., KSS Enterprise Co. Ltd., Avery Dennison Corporation, Legrand S.A., ITW Construction Products Inc., Ascend Performance Materials LLC, RS Components Ltd., HellermannTyton Corporation, Panduit Corporation, Hont Electrical Co. Ltd., BAND-IT Inc., Advanced Cable Ties Inc., Atlas Metal Industries Inc., SapiSelco S.r.l, MEGATRON Elektronik GmbH & Co. KG, Yueqing Huada Plastic Co. Ltd., AFT Fasteners Inc., Novoflex LLC, Partex Marking Systems Ltd., SureLock Technology LLC, Changhong Plastics Group, Ananta Impex Private Ltd., Rujuta Corporation
Table of Contents
1. Executive Summary
2. Cable Ties Market Report Structure
3. Cable Ties Market Trends And Strategies
4. Cable Ties Market – Macro Economic Scenario
5. Global Cable Ties Market Size and Growth
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32. Global Cable Ties Market Competitive Benchmarking
33. Global Cable Ties Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cable Ties Market
35. Cable Ties Market Future Outlook and Potential Analysis
36. Appendix
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