Wire and Cable Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023

Wires and cables are indispensible part of the modern life, finding applications in myriad industries including power, automotives, telecommunication and building & construction. The vast applications and importance of wire and cables, results in huge demand for wire and cable materials across the world. The main components of wires and cables are conductors and insulation materials. Different kinds of conducting metals such as copper, aluminum and optical fibers are used for different wire and cable applications. Wire insulation and jacketing is mostly done by polymers such as polyvinyl chloride, cross linked polyethylene, fluropolymers and thermoplastic polyurethanes among others.

Power transmission, telecommunication and building wiring are some of the applications which account for the large majority of wires and cables. The demand for wire and cables and subsequently wire and cable materials market is dependent on the growth of power generation and transmission, industrial development, telecommunication reach extension and commercial and residential infrastructure growth. At present all the applications sectors of wire and cables are exhibiting steady growth, particularly in the Asia Pacific region, which augurs well the wire and cable materials market growth outlook. The market is characterized by high degree of consolidation from the large players based in Asia and North America. Although the wire and cable materials market is growing at a brisk rate, the same is not true for all product types. For instance PVC, which is by far the largest insulation and jacketing material used in wires and cables, is facing regulatory issues pertaining to its environmental impact, and has considerably high rate of substitution by materials such as polyolefins, XLPE and PPE among others. Among the conducting materials, copper is by far the most used material in the world. However recent high speed applications in the field of telecommunications has spurted growth of optical cables.

The wire and cable materials market has no long term restraints, as the market is estimated to grow by its potential. However, the global market is slightly restrained by the lack of growth in Europe owing to the unstable macroeconomic outlook of the region. This situation is likely to change as the Europe market undergoes a revival. Among the materials, PVC is at a disadvantage owing to several regulatory compliance issues regarding the manufacturing and disposal of PVC materials. However PVC is expected to retain its top spot among wire and cable insulation materials in the foreseeable future, albeit with lower market share. The wire and cable materials market has opportunity to grow further with new applications of wires and cables. For instance the growth in the number of electric vehicles is estimated to boost the wire and cable materials market for the automotive sector, as electric and hybrid vehicles use more wiring compared to traditional vehicles.

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Asia Pacific accounts for a majority share of the wire and cable materials market in the world accounting for significantly more than half of the global demand. The presence of several manufacturing based economies in this region of the world has resulted in the region’s dominance. North America and Europe follow the demand generated from Asia Pacific region.

Some of the major companies involved in the wire and cable materials market are Leoni AG, Judd Wire, Inc., Sumitomo Electric Industries Ltd., Furukawa Electric industries Ltd. and General Cable Corporation among many others.

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