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Stainless Steel Cable Ties Market Overview
The global stainless-steel cable ties market, during the forecast period 2021 to 2030, will register growth at a CAGR of 3.12%. The market for stainless-steel cable ties is set to reach US$220,900 thousand by 2027.
As per stainless-steel cable ties marke t analysts, the global market is anticipated to witness growth owing to the factors such as the growing demand across chemicals, construction, marine, oil & gas exploration, and transportation sectors as well as new product launch and other growth strategies. However, the stainless-steel cable ties market will face challenges and restraints due to fluctuating prices of raw material and increasing prices of steel during the forecast period 2021 to 2030.
MRFR's in its report has mentioned some top companies operating in the global market for stainless-steel cable ties, which include Panduit, Heyco, Advanced Cable Ties Inc., HellermannTyton, Tridon Australia, NSi Industries, LLC, Dot Group International, ABB, Norma Group, and Essentra PLC .
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The wide application base of stainless-steel cable ties in the stainless-steel cable ties market is set to play a key role in determining the growth potential during 2021 to 2030 years. Analysts have also studied the stainless-steel cable ties market to understand potential threats and challenges the stainless-steel cable ties market companies could face. Although the stainless-steel cable ties market is poised to grow at a fast pace across type and applications segments, factors such as economic slowdown in certain parts of the world could slow down the stainless-steel cable ties market's growth worldwide.
Market Segmentation
The market has been segmented into type and applications.
Based on the segment which is type , the market is categorized on the basis of uncoated stainless-steel cable ties and coated stainless-steel cable ties.
The global market for stainless-steel cable ties is further segmented based on applications into chemicals, construction, electronics, marine, mining, oil & gas exploration, transportation, and others.
The global stainless-steel cable ties research report covers all the aspects of the stainless-steel cable ties market based on the segmental analysis of these type and applications segments. Analysts have also studied the global stainless-steel cable ties market's regional markets spread across many continents and countries. The type and applications segments along with their sub-segments have been analyzed and companies functioning in the stainless-steel cable ties across these segments are profiled and analyzed based on input and feedback from stainless-steel cable ties industry-based decision makers as well as primary and secondary sources. The stainless-steel cable ties market research report presents analysis-based information for companies functioning in the stainless-steel cable ties market.
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Regional Overview
LAck of demand and slow growth in the construction sector in certain regional markets around the world may hinder the stainless-steel cable ties market growth. The market research report suggests that companies in the stainless-steel cable ties industry could be supported by the demand across a diverse range of industrial domains as well as the development of RDIF integrated cable ties during the forecast period. The stainless-steel cable ties market is set to register growth at a high CAGR owing to these key factors. The stainless-steel cable ties market is spread across North America, Europe, Asia-Pacific, and other parts of the world.
The global stainless-steel cable ties market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the stainless-steel cable ties market research report covers the Asia-Pacific region covering stainless-steel cable ties markets from India, China, Japan, Australia, and others. The stainless-steel cable ties market is also spread across the rest of the world. The stainless-steel cable ties market report covers all such regions including the Middle East, Africa, Brazil, and others.
Competitive Landscape
Stainless-steel cable ties have seen increased demand over the years, due to growing application prospects and mergers and acquisitions. Companies functioning in the global stainless-steel cable ties market are also being challenged due to raw material price fluctuations and unfavorable corporate and government policies. Mergers and acquisitions by stainless-steel cable ties market companies are anticipated to help the market during the forecast period 2018 to 2027.
As the stainless-steel cable ties market is set to register a high CAGR of 3.12% and is also anticipated to reach a US$220,900 thousand by 2027, the report highlights key areas companies need to focus on. The report suggests that the stainless-steel cable ties market will see a healthy growth in the long run till 2027. Based on SWOT analysis and stainless-steel cable ties market's analysis based on Porters' Five Force Model presented in the stainless-steel cable ties market report. Mergers and acquisitions by stainless-steel cable ties market companies are anticipated to help the market during the forecast period 2018 to 2027.
Industry News
After completing November 2020 with around $2.9 billion in liquidity and $1.7 billion in assets, U.S. Steel Corporation reported on December 8 that it will buy the remaining equity of Big River Steel Co. for $774 million in cash. The merger will bring together U.S. Steel's blast furnaces and steel intellectual property with Big River Steel's new electric arc furnace (EAF) technology and“micro factory” operations into one entity in the first quarter of 2021. U.S. Steel said in a statement that this will broaden the company's workforce base to make it more successful overall.
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