The cable extrusion market constitutes only 3% of the global plastic consumption, however the market possesses a lucrative scope primarily owing to the huge demand for wires and cables in power and electronics sector. The global wire and cable polymers market was valued at USD 10,822 million in 2022 and is estimated to reach a value of 17,143 by 2028 with a CAGR of 8.0% during 2022-2028.
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Although the construction industry has been the main support for wire and cables, the market for these materials and the related polymers has grown thanks to significant technical advancements in the power transmission, telecom, and automobile industries. A multi-benefit situation has arisen for producers of power transmission components such relays, voltage regulators, transformers, and line insulators as a result of the increased focus on carbon reduction within the power sector that has attracted significant investments. Since 2020, investments in clean energy have grown by 12%, with about 80% of those investments going to the grid and renewable energy sectors. Additionally, spending on solar PV, batteries, and electric cars is now increasing at rates consistent with achieving net zero emissions globally by 2050.
There is a huge need for fibre optic cables and networks because of the demand for high speed internet connectivity from virtually every industry. According to projections made public by telecommunications, India will spend anything from USD 1 to USD 2.5 billion on optical fibre cable over the next three years. The need for high-speed data cable is increasing, generating a huge market opportunity for wire and polymers as the process of data transfer and communication is producing a high demand not only in the commercial and industrial sector but also in the household sector. Because of its specialised applications within the electrical and communication sectors, the wires and cables industry is very complicated.
Competitive Landscape
Some of the major companies operating in the market are Dupont, Solvay, Evonik Industries, Borouge, Avient Corporation, Eastman Chemical company, Exxon Mobil corporation, Trelleborg, Hanwa solutions
By Product Type
PVC
PE
LS0H/HFFR
PP
TPE
Rubber
Others
By Application areas
Electronics wire and cable
Power transmission wire and cable
Building wire and cable
Apparatus wire and cable
Magnet wire and cable
Fiber optic wire and cable
Others
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Key Questions Answered in This Report:
- How has the global Wire And Cable Polymers performed so far and how will it perform in the coming years?
- What are the key regional Markets?
- What has been the impact of COVID-19 on the global Wire And Cable Polymers?
- What is the breakup of the Wire And Cable Polymers based on the type?
- What is the breakup of the Market based on the application?
- What is the breakup of the Wire And Cable Polymers based on the manufacturing process?
- What is the breakup of the Market based on the price range?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global Wire And Cable Polymers and who are the key players?
- What is the degree of competition in the industry?
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