Plastic Cable Ties Market Size, Share, Growth, and Industry Analysis, By Type (PA66 cable ties, PA6 cable tie, others), By Application (Electronic Communications, Electrical Product, Automobile Industry, Others), Regional Forecast To 2031

Updated On: 22 April 2024

Plastic Cable Ties Market Report Overview

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The global plastic cable ties market size was USD 1313.77 million in 2021. As per our research, the market is expected to reach USD 2034.01 million in 2031, exhibiting a CAGR of 4.47% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Plastic cable ties, often referred to as zip ties or cable fasteners, are versatile fastening devices used to bundle, secure, and organize wires, cables, and other items. They consist of a flexible strap with evenly spaced teeth on one end and a ratchet-like mechanism on the other. To use them, you simply insert the pointed end through the head and pull it tight. The teeth on the strap engage with the ratchet, preventing it from loosening once tightened.

The market is driven by increasing demand for electronic devices and electrical equipment. As technology continues to advance, the need for efficient cable management solutions grows. Infrastructure projects, including telecommunications, construction, and data centres, have further driven demand for cable management products.

COVID-19 Impact: COVID-19 Hampered Market Demand due to Disruptions in Supply Chains

The pandemic disrupted global supply chains, affecting the availability of raw materials and components necessary for manufacturing plastic cable ties. This could have led to production delays and increased costs for manufacturers. The demand for cable ties is closely tied to construction, manufacturing, and infrastructure projects. During the pandemic, many of these activities were delayed or postponed, affecting the demand for cable ties. However, increased demand for e-commerce and the need for home office setups might have partially offset this decline. The COVID-19 pandemic prompted changes in consumer behaviour and industry practices. For example, there was a surge in demand for cable ties in the healthcare sector for organizing and securing medical equipment and PPE. Additionally, cable ties were used in temporary installations for testing centres and vaccination sites. The economic impact of the pandemic, including job losses and reduced disposable income, could have influenced consumer spending and investment in various industries, indirectly affecting the market.

Latest Trends

"Growing Demand in Various Industries to Fuel Market Growth"

Plastic cable ties have widespread applications in industries such as construction, automotive, electronics, and agriculture. The market was experiencing growth due to increased usage in these sectors. There was a trend toward the development and adoption of miniature cable ties for delicate applications and releasable cable ties that allow for reusability. Manufacturers were focusing on developing cable ties using new materials, such as bio-based plastics and high-performance polymers, to meet specific application requirements and environmental concerns. Some companies were offering customized cable ties to meet the specific needs of their customers, which was gaining popularity in niche markets. Online sales channels and e-commerce platforms were becoming increasingly important for the distribution of cable ties, providing customers with easy access to a wide range of products. With growing environmental awareness, there was a push towards more sustainable and eco-friendly cable tie options, such as reusable or biodegradable ties.

Plastic Cable Ties Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into PA66 cable ties, PA6 cable tie, others.

• By Application Analysis

Based on application, the market can be divided into electronic communications, electrical product, automobile industry, others.

Driving Factors

"Growth in Construction and Infrastructure Development to Fuel Market Growth"

The construction industry relies heavily on plastic cable ties for securing and organizing wiring and cables. As construction and infrastructure projects continue to expand globally, the demand for cable ties increases. Manufacturing and industrial sectors use cable ties extensively for bundling and organizing cables, hoses, and other materials. The growth of these sectors contributes to the plastic cable ties market growth. The automotive industry uses cable ties in various applications, such as cable management and securing components. As the automotive sector continues to grow and innovate, the demand for cable ties increases.

"Increasing Focus on Renewable Energy to Accelerate Market Demand"

The renewable energy sector, including wind and solar power installations, relies on plastic cable ties for securing cables and wires in challenging environmental conditions. The growing emphasis on renewable energy contributes to the demand for durable cable ties. The development of advanced cable tie materials, such as UV-resistant and flame-retardant variants, makes them suitable for a broader range of applications. These technological advancements drive market growth. Cable ties are used for packaging and securing products in the retail and e-commerce industries. The surge in online shopping and retail sales drives the demand for cable ties. The agricultural and horticultural sectors use cable ties for plant support, trellising, and various other applications. These industries' growth contributes to the demand for cable ties.  Consumers use cable ties for various DIY projects and home improvement tasks. The popularity of DIY projects and home renovations contributes to the market's growth.

Restraining Factor

"Competition from Alternative Materials to Restrict Market Growth "

Cable ties made from materials like metal, nylon, and other biodegradable substances are increasingly being used as alternatives to plastic cable ties. These materials offer different sets of advantages, such as greater strength, durability, and environmental friendliness, which can pose a significant challenge to the market. The plastic cable tie market is susceptible to fluctuations in the prices of raw materials like polypropylene and other plastics. Price volatility can impact manufacturing costs and product pricing.

Plastic Cable Ties Market Regional Insights

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"North America to dominate the Market owing to Presence of Key Players "

North America holds leading position in plastic cable ties market share.  The region, particularly the U.S. and Canada have significant demand for cable ties due to their strong manufacturing and construction sectors. These countries also have a substantial consumer market, which contributes to the consumption of cable ties for various purposes.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are ITW Construction Products, HellermannTyton, Panduit, Thomas&Betts, Davico Industrial, Legrand, SapiSelco. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• ITW Construction Products (Denmark)
• HellermannTyton (India)
• Panduit (U.S.)
• Thomas&Betts (U.S.)
• Legrand (France)
• SapiSelco (Italy)

Report Coverage

This report examines an understanding of the plastic cable ties market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.