Stainless Steel Cable Ties Market: Introduction
Transparency Market Research delivers key insights on the global stainless steel cable ties market. In terms of revenue, the global stainless steel cable ties market is anticipated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the stainless steel cable ties market report.
The report on the stainless steel cable ties market highlights different types of stainless steel cable ties that provide the ability to hold heavy loads securely while dealing with extreme temperatures and conditions. Stainless steel cable ties are designed for fast and secure installation. They are majorly used in the bundling of cables and wires in various applications such as automotive, construction, petroleum and chemicals, electrical and electronics, ship building, telecommunications, transportation, mining, energy, and utilities. Manufacturers of stainless steel cable ties offer cable ties in packs of 250, 100, 50, 25, and 10.
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In this report, TMR estimates the market of stainless steel cable ties in terms of roller balls, ladders, and releasable cable ties. Roller ball stainless steel cable ties designed with a ball locking mechanism is the most preferred choice of end-use industries, and their demand is likely to continue to expand rapidly during the forecast period. An internal locking ball is located within the head of the tie, which provides the locking mechanism for cinching. Roller ball stainless steel cable ties are equipped with a self-locking feature and are easy to install. Stainless steel cable ties are majorly manufactured from SS grade 304 and SS 316. Furthermore, coated stainless steel cable ties are non-abrasive, non-toxic, halogen free polyester coated, and are resistant to abrasion, corrosion, and radiation, besides working in extremes temperature. Uncoated stainless steel cable ties dominate the market as compared to coated stainless steel cable ties. Stainless steel cable ties are available in different colors, sizes, lengths, and tensile strength.
Stainless Steel Cable Ties Market: Major Application Areas
Usage of stainless steel cable ties is seen in various application areas and end-use industries across the globe. Electronics, ship building, automotive, petroleum & chemicals, and transportation are considered some of the major industries expected to generate huge demand for stainless steel cable ties in the forecasted timeline. In European countries, the automotive industry drives the stainless steel cable ties market. In the Middle East & Africa, the petroleum and chemicals industry is expected to dominate the installation of stainless steel cable ties in the near future. Increasing demand for stainless cable ties is also expected from the energy sector, especially for wind and solar energy.
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Stainless Steel Cable Ties Market: Prominent Regions
Asia Pacific is projected to experience prominent growth in the global stainless steel cable ties market in the near future, due to rapid industrialization, increase in construction activities, and rise in the utilization of stainless steel cable ties in telecommunication and general industries in countries such as China, India, Japan, and Australia. China and India are considered prominent markets for manufacturers and distributors of stainless steel cable ties. In China and India, the market of stainless steel cables ties is highly fragmented. A large number of local manufacturers and distributors are present in the market. The markets in North America and Europe are anticipated to expand at a moderate growth rate during the forecasted timeline. In Europe, growth of the stainless steel cable ties market is likely to be majorly driven by automotive, electronics, and ship building industries. The stainless steel cable ties market in the Middle East & Africa is also projected to grow due to increasing installation of stainless steel cable ties in petroleum & chemical and mining industries.
Major brands are likely to focus on expansion of production capacity and new product development to strengthen their footprints in the global stainless steel cable ties market. Companies are engaged in expanding their product portfolios and business through online modes of distribution. They are also working toward upgrading their existing products to increase profitability for the sustainable growth of their businesses.
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