Portland, OR, Feb. 25, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global nylon cable ties market was estimated at $129 million in 2018 and is expected to hit at $253.6 million by 2026, registering a CAGR of 8.86% from 2019 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning stratagems, drivers & opportunities, competitive scenario, and fluctuating market trends.
Increase in incidence of PMS, rise in awareness of PMS therapeutics, and upsurge in healthcare expenditure across the world fuel the growth of the global nylon cable ties market. On the other hand, poor demand in underdeveloped countries impedes the growth. On the contrary, growth opportunities in emerging markets and higher number of unmet needs for the treatment of PMS are expected to create lucrative opportunities in the industry.
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The nylon 6 segment to lead the trail by 2026:
Based on type, the Nylon 6 segment accounted for nearly two-thirds of the total market revenue in 2018, and is expected to rule the roost till 2026. Simultaneously, the Nylon 6,6 segment is projected to manifest the fastest CAGR of 9.3% throughout the forecast period.
The electronics & electrical segment to retain its dominance in terms of revenue:
Based on application, the electronics & electrical segment contributed to nearly one-third of the total market share in 2018, and is anticipated to dominate during 2019–2026. The automotive segment, on the other hand, would cite the fastest CAGR of 9.6% during the estimated period. The other segments assessed in the report take in building & construction, agriculture, consumer goods, and industrial.
Asia-Pacific garnered the highest share in 2018:
Based on geography, Asia-Pacific garnered the major share in 2018, holding more than one-third of the total market. Simultaneously, North America would grow at the fastest CAGR of 9.3% during the study period. The other two regions analyzed in the market report include Europe and LAMEA.
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Leading market players:
The key market players analyzed in the global nylon cable ties market include Ascend Performance Material, Partex Marking Systems AB, YUEQING HUADA PLASTIC CO. LTD., HellermannTyton 3M, Inc., Changhong Plastics Group Imperial Plastics Co. Ltd., Hont ELectrical CO Ltd., Novoflex Marketing (P) Ltd., and ABB Ltd KSS. They have taken recourse to a number of strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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