Diverse application area and surge in adoption in the retail industry drive the growth of the Australia & New Zealand nylon cable ties market. The electronics & electrical segment held the highest market share in 2019, and is projected to maintain its leadership status during the forecast period. Manufacturing activities have been hindered partially or completely due to lockdown measures taken in these countries.
Portland, OR, June 21, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Australia & New Zealand nylon cable ties market generated $10.7 million in 2019, and is estimated to reach $18.7 million by 2027, witnessing a CAGR of 8.7% from 2020 to 2027. The report provides an extensive analysis of changing market dynamics, value chain, key segments, regional landscape, top investment pockets, and competitive scenario.
Diverse application area and surge in adoption in the retail industry drive the growth of the Australia & New Zealand nylon cable ties market. However, unstable crude oil prices related to regulations on plastic usage limit the market growth. On the other hand, penetration of small-scale players and limited entry barriers create opportunities for the market players in the coming years.
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Manufacturing activities have been hindered partially or completely due to lockdown measures taken in these countries. Moreover, supply chain disruptions and raw material shortages have occurred.
The demand from application industries such as electronics & electrical, construction, and automotive reduced due to lack of continuity of activities. However, the demand is expected to rise steadily during the post-lockdown.
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The report provides detailed segmentation of the Australia & New Zealand nylon cable ties market based on type and application.
Based on type, the nylon 6 segment accounted for the highest share in 2019, contributing to more than three-fifths of the total share, and is expected to maintain its lead position during the forecast period. However, the nylon 6,6 segment is projected to witness the largest CAGR of 9.1% from 2020 to 2027.
Based on application, the electronics & electrical segment held the highest market share in 2019, accounting for around one-third of the Australia & New Zealand nylon cable ties market, and is projected to maintain its leadership status during the forecast period. However, the automotive segment is expected to manifest the highest CAGR of 9.4% from 2020 to 2027.
Leading players of the Australia & New Zealand nylon cable ties market analyzed in the research include ABB, Ltd., APTIV PLC, Aero Manufacturing Australia Pty. Ltd, Essentra plc, Electrocomponents plc, NPA PTY LTD, MATelec Australia, Sunlec International Pty. Ltd., PINPAK, and 3M.
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