Wire Compound & Cable Compound Market Report 2023: A $22.6 Billion Market by 2030
As per Zion Market Research, The global market for Wire Compounds and Cable Compounds estimated at US$12.9 Billion in the year 2022, is projected to reach a revised size of US$22.6 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2022–2030. The market is powered by developing automobile and power sectors and rising infrastructural development activities all over the world. On the other hand, the developed markets of North America and Europe are expected to show the development to some level.
Cable compound and wire compound are an essential part of the cable & wire sector, as these compounds offer high-quality jacketing and insulation to conducting substances. These compounds show excellent corrosion & chemical resistance, high durability, and high mechanical flexibility, stability, and abrasion resistance features.
Trelleborg AB has huge experience in the cable compound and wire compound field. The firm is aiming on R&D to roll out new products. The firm has a solid brand status in the global market for wire compound and cable compound, as it offers high-quality goods. The firm aims to employ most enhanced tech in manufacturing operations to suffice the diverse requirements of end-use sectors, such as automobile, construction, power, and communication. This development will allow the firm to meet the rising requirement for cable compound and wire compound in India, China, and other Asia Pacific nations.
The Construction Section Is Predicted To Be The Biggest Section In Terms Of Value Of The Global Wire Compound And Cable Compound Market
Cable compound and wire compound are employed in different end-use sectors, such as power, construction, power, and communication, among others. The construction section is predicted to be the biggest section in terms of value of the global wire compound and cable compound market.
Asia Pacific Is Predicted To Be The Biggest Market For Cable Compound And Wire Compound
North America, Asia Pacific, South America, Europe, and Middle East & Africa are believed as the major regions for the wire compound and cable compound market. Asia Pacific is predicted to be the biggest market for cable compound and wire compound. The area has seen high investments and considerable economic growth all over end-use sectors such as construction, automotive, power, and communication. The wire compound and cable compound market in up-and-coming nations such as India, China, and Brazil is predicted to see development, owing to the rising industrial activities in these nations.
Government regulations pertaining to the employment of halogenated polymers in North America and Europe might hinder the development of the wire compound and cable compound market in the years to come.
FOCUS ON SELECT PLAYERS-
- Belden, Inc.
- Borouge
- DuPont de Nemours, Inc
- Eastman Chemical Company
- Evonik Industries AG
- Exxon Mobil Corporation
- General Cable Technologies Corporation
- Hanwha Chemical Corporation
- LS Cable & System Ltd
- Nexans S.A
- Avient Corporation
- Prysmian Group
- SCG Chemicals Co., Ltd.
- Solvay S.A.
- Southwire Company, LLC
- Sumitomo Electric Industries, Ltd.
- The Furukawa Electric Co., Ltd.
- Trelleborg AB
The global wire compound and cable compound market is segmented as follows:
By Type:
- Halogenated Polymer
- Non- Halogenated Polymer
By End-use Industry:
- Construction
- Power
- Communication
- Automotive
- Others
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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