Australia & New Zealand Nylon Cable Ties Market Outlook - 2020–2027
The Australia & New Zealand nylon cable ties market size was valued at $10.7 million in 2019, and is projected to reach $18.7 million by 2027, growing at a CAGR of 8.7% from 2020 to 2027.
Cable ties are referred to as wire ties, zap straps, and hose ties, which are a type of fastener used for holding cables together. A tie manufactured using nylon 6 or nylon 6,6 is known as a nylon cable tie. These cable ties are available in two types, which include single use cable ties and reusable cable ties, based on the nature of the application. Nylon cable ties exhibit properties such as high tensile strength, temperature compatibility up to 140 °C, and high level of toughness.
The growth of the Australia & New Zealand nylon cable ties market is driven by rise in utilization of nylon cable ties in the diverse applications. In addition, rapid growth of the retail industry and increase in adoption of nylon cable ties fuel the Australia & New Zealand nylon cable ties market growth. However, unstable crude oil prices linked with regulation on single use of plastic is the key factor restraining the market growth in the upcoming years. On the contrary, penetration of small players and limited entry barriers are expected to create lucrative opportunity for the key players in the nylon cable ties market.
For the purpose of analysis, the Australia & New Zealand nylon cable ties market is segmented into type and application. The study highlights various types of nylon cable ties available in the market such as nylon 6, nylon 6,6, and others. The applications covered in the study include electronics & electrical, building & construction, automotive, agriculture, consumer goods, industrial, and others.
The key players operating in the Australia & New Zealand nylon cable ties market are ABB, Ltd., Aero Manufacturing Australia Pty. Ltd, APTIV PLC, Electrocomponents plc, Essentra plc, MATelec Australia, NPA PTY LTD, PINPAK, Sunlec International Pty. Ltd., and 3M.
These key players are adopting various strategies such as product launch and partnership to stay competitive in the nylon cable ties market.
For instance, HellermannTyton (a subsidiary of Aptiv PLC) developed Innovative Blind Hole Mount Cable Ties for threaded & non-threaded holes. It was designed to accelerate the bundling and affixing of wire bundles and cables for manufacturers. The new mounting system eliminates extra hardware versus traditional screw mounts. This product launch strengthened the product portfolio of the company.
Other players operating in the Australia & New Zealand nylon cable ties market are LAPP Australia, DKSH, Advanced Cable Ties, Inc., Panduit, and others.
The Australia & New Zealand nylon cable ties market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2020–2027. The report includes the study of the Australia & New Zealand nylon cable ties market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
Australia & New Zealand Nylon cable ties market, by type
By type, the nylon 6 segment held the largest Australia & New Zealand nylon cable ties market share in 2019. This is attributed to increase in demand for nylon 6 cable ties for bundling, packaging, animal identification, and other applications in the region. In addition, nylon 6 cable ties are least expensive; therefore, consumers mostly purchase mass quantity of this cable ties type, which in turn is anticipated to increase the demand for nylon 6 cable ties during the analyzed time frame.
By Type
Nylon 6 is projected as the most lucrative segment.
Australia & New Zealand Nylon cable ties market, by application
By application, the electronics & electrical segment dominated the highest share in the Australia & New Zealand nylon cable ties market in 2019, and is expected to maintain the same during the forecast period. This is attributed to increase in electronics & electrical production, rise in demand for high-end as well as advanced electronics products, and increased adoption in data centers. In addition, rise in building and construction of offices, residential buildings, hotels, and others is expected to drive the demand for cables and wires, which in turn is anticipated to fuel the growth of the nylon cable ties market during the analyzed time frame.
By Application
Electronics & Electrical holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
COVID-19 impact on the market
Lockdown imposed due to the outbreak of the COVID-19 pandemic has resulted in temporary ban on the import and export; thereby, disrupting the supply chain and hampering the nylon cable ties market growth in the second, third, and fourth quarter of 2020. However, the market is expected to recover in the late year or by the first quarter of 2021 as the production in various industries begins.
Key Benefits For Stakeholders
- The report includes in-depth analysis of different segments and provides Australia & Nylon cable ties market estimations between 2020 and 2027.
- A comprehensive Australia & New Zealand nylon cable ties market analysis of the factors that drive and restrict the growth of the market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and Australia & New Zealand nylon cable ties market forecast are based on factors impacting the growth, in terms of value.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current Australia & New Zealand nylon cable ties market trends and future estimations from 2020 to 2027, which helps identify the prevailing market opportunities.
Key Market Segments
By Type
- Nylon 6
- Nylon 6,6
- Others
By Application
- Electronics & Electrical
- Building & Construction
- Automotive
- Agriculture
- Consumer Goods
- Industrial
- Others
The Australia & New Zealand Nylon Cable Ties Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | ELECTROCOMPONENTS PLC, PINPAK, ESSENTRA PLC, ABB, LTD., 3M, SUNLEC INTERNATIONAL PTY. LTD., MATELEC AUSTRALIA, NPA PTY LTD, AERO MANUFACTURING AUSTRALIA PTY. LTD, APTIV PLC |
Analyst Review
According to the CXOs of leading companies, the nylon cable ties market is very dynamic in nature, which represents immense growth potential for the upcoming years in the Australia and New Zealand region. Nylon cable ties are very easy and convenient to use, which adds real-life value in regular practices in a large range of industries. For instance, in electronics industries, it is used to tie cables together inside the electronics products that prevent short circuits and damaging of products. This activity helps in space utilization in electronics products by preventing further complications. Therefore, nylon cable ties are gaining tremendous popularity across the countries analyzed in the study.
Increase in application of nylon cable ties due to its easy use drives the growth of the market for the next 5-8 years. There are other cable ties available in the market, including steel cable ties, metal detachable ties, and plastic cable ties; among all, nylon cable ties are highly preferred due to its cost-effective and reusable nature. Considering this, the nylon cable ties market is anticipated to witness the penetration of new industry participants during the next five years to tap growth opportunities through new product innovation.
Among the analyzed countries, Australia is expected to account for the highest revenue in the nylon cable ties market throughout the forecast period. In addition, Australia registered the highest CAGR of 8.9% and is expected to maintain the same during the forecast period, owing to huge consumer base and presence of key players in the country.
In terms of revenue growth, the CAGR of the Australia & New Zealand nylon cable ties market is 8.7% by 2027.
Diverse application area of nylon cable ties and adoption of nylon cable ties in the retail industry are expected to be the key trends in the Australia & New Zealand nylon cable ties market.
The potential customers of the Australia & New Zealand nylon cable ties market are electronics & electrical, building & construction, automotive, retail & wholesale stores, and others.
On the basis of type, nylon 6 segment will drive the Australia & New Zealand nylon cable ties market growth during the forecast period. On the basis of application, electronics & electrical segment will drive the growth of the Australia & New Zealand nylon cable ties market.
The applications of the Australia & New Zealand nylon cable ties market are in construction, electrical wiring, automotive wiring, packaging, and others.
Top players in the Australia & New Zealand nylon cable ties market are ABB, Ltd., Aero Manufacturing Australia Pty. Ltd, APTIV PLC, Electrocomponents plc, Essentra plc, MATelec Australia, NPA PTY LTD, PINPAK, Sunlec International Pty. Ltd., and 3M
In terms of revenue, the market size of the Australia & New Zealand nylon cable ties market is anticipated to reach $18.7 million by 2027, growing at CAGR of 8.7% from 2020 to 2027.
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