Cable ties made from stainless steel are used to attach items to surfaces. Construction workers often use them to secure hand tools to a workbench, such as drills and saws. In addition to securing lumber to a scaffold, they’re used to secure generators to walls. For many applications, their strength and ability to support heavy loads make them an excellent choice.
The construction industry uses stainless steel extensively. Because it is strong and corrosion-resistant, it is ideally suited for use in building materials, such as metal supports for buildings and railings. Tools and machinery made of stainless steel are also used in the production of sports equipment, including golf clubs and baseball bats, due to its strength.
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Why Stainless Steel Cable Ties Are Becoming Popular?
Stainless steel cable ties have become increasingly popular over the past few years. This is likely due to their ability to perform multiple functions. Unlike plastic ties, which can only be used in one situation, stainless steel cable ties can be used for a variety of purposes. This makes them versatile, which is likely why so many construction workers have begun to use them.
Growth Drivers:
As steel production continues to become less labour intensive, demand for stainless steel products, including cable ties, is expected to increase. This is due to the fact that stainless steel products are able to withstand heavy loads and multiple uses, which increases their lifespan.
In addition, as steel production becomes more mechanised, demand for stainless steel products that are able to withstand the rigours of industrial use, including the ability to hold heavy loads, is expected to increase. This is likely to further increase demand for stainless steel cable ties.
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Global Market Scenario:
Stainless steel cable ties are used to secure lumber to a scaffold, and to secure generators to a wall. Their strength and ability to hold heavy loads makes them a popular choice for many applications. The demand for stainless steel cable ties is expected to grow at a CAGR of roughly 5% over the next five years.
This growth is primarily a result of the increasing construction activity in developing economies where construction activity is expected to increase at a CAGR of roughly 2% over the next five years.
The global stainless steel cable tie market is expected to grow at a CAGR of 3.8% from 2017 to 2022, to reach US$ 2,655.4 million in 2022. The market is driven by the growing demand for stainless steel cable ties for industrial applications, such as construction and manufacturing, and for household applications, such as securing hand tools.
Government’s Vision and Support:
According to the government, the country will achieve $5 trillion in GDP by 2024 through investments worth INR 100 lakh crore in infrastructure sectors like housing for all, 100% electrification, and piped water for everyone, among others. Durability, faster completion times, reduced environmental impact, and circular economy are some of the benefits of steel. India’s rise to a $5 trillion economy will be a key factor for steel’s success.
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