Cable Ties Market Outlook 2019 - Global Industry Analysis, Trends, Share, Size,
Posted by sarahbennu on August 22nd, 2019
Global cable ties market size is forecast to grow by USD 1.4 billion during 2019-2023 at a CAGR of over 5%, with nylon segment having the largest market share. Cable tie market analysis indicates growth will be driven by the emergence of metal detectable cable ties. Cable ties industry growth will also be impacted by the increasing preference for custom cable ties. The introduction of RFID-enabled cable ties will be one of the major trends in the global cable ties market during 2018-2022. RFID-enabled cable ties are utilized for the clear and speedy identification of the product. Major applications of these cable ties include securing, tracking, and identifying products in electric inspection, rental services, and inventory management and distribution. Owing to the increasing need for product identification, cable tie manufacturers are focusing on introducing innovative solutions in the market.
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According to Technavio analysts, one of the key drivers for the global cable ties market is the increasing demand for metal detectable cable ties from the food and pharmaceutical industries:
Global cable ties market: Increasing demand for metal detectable cable ties from the food and pharmaceutical industries
Food and pharmaceutical products are sealed with metal detectable cable ties to prevent these consumables from getting contaminated and degraded. Metal detectable cable ties contain a small amount of metal and hence can be detected by metal detectors, X-ray equipment, and safety scanners. For instance, if a small part of the cable tie falls into the product, it can be easily detected during the further processing of the products.
According to a senior analyst at Technavio for research on packaging, “Metal detectable cable ties are available in a variety of materials such as polypropylene and nylon with metal inclusion. Owing to their buoyancy, the polypropylene cable ties are more suitable for liquid processing applications. Additionally, for easy detection in the food processing industry, these cable ties are usually available in bright blue color.”
Global cable ties market: Segmentation analysis
This global cable ties market analysis report provides market segmentation by material (metal and plastic) and by region (the Americas, APAC, and EMEA). This cable ties market forecast report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
APAC held the largest share of the market in 2017, accounting for around 42% share. It was followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022.
Some of the key topics covered in the report include:
Five Forces Analysis
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Joined: July 1st, 2019
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