The global stainless-steel cable ties market was valued at USD 184,736.6 thousand in 2017 and is projected to register a CAGR of 3.12% to reach USD 220,990.5 thousand by the end of 2023.
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- By type, the uncoated stainless-steel cable ties segment held the larger market share of 54.9% in 2017 due to its lower cost as compared to coated ties.
- Based on application, the transportation segment held the largest market share of 35.1% in 2017 due to the widespread use of stainless-steel cable ties in automobiles, mass transit, railways, and buses, among others.
- Geographically, Asia-Pacific accounted for the largest market share of 40.2% in 2017 due to rapid industrialization in the region.