Cable Ties Market Expected to Reach $2.5 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cable Ties Market," The cable ties market was valued at $1.4 billion in 2022, and is estimated to reach $2.5 billion by 2032, growing at a CAGR of 6.4% from 2023 to 2032.

Cable tie is a type of fastener, recognized for holding things together to organize them for diverse purposes. These are majorly composed of materials such as nylon and stainless steel; and are available in several types, such as releasable, non-releasable, and beaded. They offer superior flexibility and are quite easy to use. They exhibit properties such as combined strength, high service temperature, moderate stiffness, and a high level of toughness. Cable ties have prolonged service life, superior chemical & corrosion resistance, high strength, easy ball-locking design, and they are non-flammable.

These serve as temporary as well as permanent fastening solutions for different electronic items. They are developed for use in rugged installation practices in construction projects, allowing enhanced durability, package tightness, as well as tensile strength. Cable ties are utilized to meet various operations including bundling of cables and binding the bundle of wires. These ties are known as wire ties, wire wraps, zipper ties, hose ties, and others.

According to the National Electrical Manufacturers Association, cable ties are categorized as Type 1, 11, 2, 2S, 21, or 21S, if they conform to the scope of cable management systems as defined by the Underwriters Laboratories, International Electrotechnical Commission, and CSA in Standard 62275. The global cable ties market is expected to witness significant growth during the forecast period due to the growing use of cable ties in various end-use industries such as automotive, electronics & electrical, consumer goods, building & construction, marine, and others.

Cable ties composed of nylon are easy to use and hence are widely used in automotive, electronics & electrical, and constriction applications. They are significantly adopted to hold wire bundles during assembly in electronics and automotive products. Further, cable ties composed of stainless steel are widely utilized in applications where protection from corrosion, chemicals, and weathering is needed. These cable ties have been gaining substantial popularity in recent years as they have emerged as an excellent solution for wire and cable management in applications across various industries, including industrial, automotive, electronics, aerospace, petroleum & chemicals, chemical processing, construction, shipbuilding, and transportation.

However, availability of alternatives, such as Velcro straps, conveyor belt hooks, surgeon’s knot, or constrictor knot, is expected to restrain the market growth. Nevertheless, penetration of small-scale players and limited entry barriers are anticipated to offer ample growth opportunities for the cable ties market growth during the forecast period.

The cable ties market analysis is done based on material type, product type, end-use industry, and region. By product type, the market is categorized into nylon, stainless steel, and others. On the basis of product type, the market is classified into releasable cable ties, ball lock cable ties, and ladder cable ties. On the basis of end-use industry, the market is fragmented into automotive, electronics & electrical, consumer goods, building & construction, marine, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of material type, the nylon segment dominated the global cable ties market size in terms of revenue, in 2022. Nylon cable tie is a type of faster made from nylon material. The most popular raw materials used to make cable ties are nylon 6 and nylon 66. These semi-crystalline materials have good strength and durability for use in a variety of industrial applications. Owing to their high dielectric qualities and slow rate of flame propagation, nylon 6 and 66 are mostly used in the field of electrical engineering.

Further, nylon cable ties are very easy and convenient to use, which add real-life value in regular practices in a large range of industries such as electronics industry to connect wires inside of electronic goods to prevent short circuits and product damage. Moreover, these cable ties are widely employed in the construction and automotive industries, where they are used in assembly lines for automobiles and to tie several items together during basic construction tasks.

On the basis of product type, the releasable segment dominated the global cable ties market in terms of revenue, in 2022. These cable ties have a special design that allows releasing and reusing them multiple times. Releasable cable ties typically consist of two components—an integrated strap with teeth and a locking mechanism. The straps are threaded through the locking mechanism, allowing security and releasing it as needed. The key feature of releasable cable ties is their ability to be unlocked and reused without the need for cutting or replacing. This makes them more cost-effective and environmentally friendly compared to single-use cable ties. Releasable cable ties are often made from nylon or a similar durable and flexible material, similar to standard cable ties.

On the basis of end-use industry, the electronics and electrical segment dominated the global cable ties market in terms of revenue, in 2022. Cable ties are used in electricals and electronics to easily bundle power cords for home electronics, computer peripherals, measurement devices, and others. They are used to connect goods, most notably electrical cables, or wires, which come in a variety of sizes, lengths, materials, and even colors.

Cable ties are ideal for fastening and bundling cabling in applications such as radios, lights, and other electronics. Further, the electronics and electrical industries primarily use nylon cable ties, which are used to tie the bundle of cable inside electronic items to protect them from damage and short circuit. They not only preserve electronics but also help extend their lifespan. Cable ties are used to attach or bind together multiple electrical cables and wires in a manageable configuration.

Region-wise, Asia-Pacific dominated the market with the highest revenue share in 2022. Cable ties are mostly utilized in the automotive, consumer goods and electronics industries in Asia-Pacific. Cable ties are frequently used to protect expensive car parts during storage and transportation against vibrations, scuffs, dents, dings, and damage. It includes barrier nylon fabrics that are useful for tubing, harnesses and straps, component protectors, and corrugated boxed solutions. Further, the automotive industry has been revolutionized by the electric vehicles (EV) trend in Asia-Pacific and the use of electrical components in the industry has substantially increased. With the increasing use of highly sensitive electrical sensors in automotive the demand for customized packaging where cable ties are used to ensure their safe transport has also increased in Asia-Pacific.

The major players operating in the cable ties industry are ABB Installation Products Inc., AFT Fasteners, Avery Dennison Corporation, 3M, Hellermann Tyton, Panduit, Novoflex, Acme Seals Group, Ascend Performance Materials, and Band-It IDEX In. The companies adopted key strategies such as collaboration to increase their market share. The companies adopted key strategies such as collaboration to increase their market share.  

The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.

Key Findings Of The Study:

• By material type, the nylon segment is projected to grow at the highest CAGR of approximately 6.6%, in terms of during the cable ties market forecast period.
• By product type, the releasable cable ties dominated the market share.
• By application, the electronics & electrical shifting segment dominated the cable ties market share growing at a CAGR of 6.8% in 2022.
• By region, Asia-Pacific dominated the cable ties market and is expected to grow at a high CAGR during the forecast period.