According to the report by Expert Market Research (EMR), the Global Wire and Cable Compounds Market Share reached a value of USD 14.1 billion in 2022. Aided by the rising demand for reliable power infrastructure and the burgeoning expansion of the telecommunications sector, the market is projected to further grow at a CAGR of 9.20% between 2023 and 2028 to reach a value of USD 23.6 billion by 2028.
Wire and cable compounds are materials utilised in the insulation and jacketing of wires and cables to enhance their durability, resistance to heat, flame, oil and UV radiation, and overall performance. Predominantly made from PVC, PE, and rubber-based compounds, these materials are critical for ensuring the safe and efficient operation of electrical and telecommunication systems.
The increasing demand for reliable power infrastructure, particularly in developing countries, is a significant driver of the global wire and cable compounds market growth. As nations worldwide are investing heavily in upgrading their power generation, transmission, and distribution systems, there is a heightened demand for high-performance wires and cables, and consequently, the compounds that make these cables robust and efficient.
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The burgeoning expansion of the telecommunications sector further aids the wire and cable compounds market expansion. With the accelerating deployment of 5G infrastructure, the growing demand for high-speed internet services, and the ever-increasing data traffic, there is a mounting need for high-quality cables that can ensure seamless connectivity. This need is driving the demand for advanced wire and cable compounds that can enhance cable longevity and performance.
Wire and cable compounds also find extensive applications in the automotive industry, where they are used in the manufacturing of wiring harnesses, further propelling the wire and cable compounds market development. Furthermore, the growing trend towards electric vehicles and the increasing complexity of in-vehicle electronics, the demand for durable and high-performance cables, and thus cable compounds, is on the rise.
Additionally, the offshore industry, particularly oil, gas, and wind energy installations, requires robust cable solutions capable of withstanding harsh environmental conditions. This requirement is leading to increased utilisation of cable compounds that can improve the cables’ resistance to UV radiation, oil, and flame, thereby providing safe and efficient energy transmission, and consequently fuelling the wire and cable compounds market.
The market can be divided based on polymer type, product, end user, and region.
Market Breakup by Polymer Type
- Polyvinyl Chloride (PVC)
- Thermoplastic Elastomer (TPE)
- Thermoplastic Polyurethane (TPU)
- Thermoplastic Olefin (TPO)
Market Breakup by Product
- Fiber Optic Cable
- Coaxial Cable
Market Breakup by End User
- Electrical and Electronics
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global wire and cable compounds companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Cabot Corporation
- Buss AG
- DuPont de Nemours, Inc
- Solvay S.A.
- Trelleborg AB
- SCG Chemicals Public Company Limited
- Exxon Mobil Corporation
- Mitsubishi Chemical Corporation
- Electric Cable Compounds, INC.
- Melos GmbH
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