Automotive Wire and Cable Materials Market: Bigger Opportunities will Emerge Beyond PVC

The growing hunger of vehicle users for a comfortable in-vehicle experience is driving the use of automotive wires and cables. But there is also a concern that stems from vehicles being packed with wires and cables: These components add to the overall weight of the vehicle.

Use of Vehicles to Grow Steadily, Creating Greater Prospects for Automotive Wire and Cable Materials Market

A regular vehicle has hundreds of meters of wires snaking through behind the headlights and taillights, dashboard, carpeting, doors, and seats, and the frame. The weight of these wires runs into hundreds of kilograms, adding to the overall weight of the vehicle itself. As vehicles increasingly come packed with new features, the weight of the wiring harnesses continues to grow.

Against the backdrop of concerns related to emissions, the weight of a vehicle assumes more importance today than it ever did. While this has promoted experts to look into ways to reduce or even eliminate the use of wires and cables in automobiles, the change will be anything but immediate. Thus, the demand for cables and wires meant for use in automobiles will continue to move upward. This will consequently see the demand for automotive wire and cable materials grow steadily as well.

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Transparency Market Research, a business intelligence firm, expects the global automotive wire and cable materials market to be led by Asia Pacific, where the automotive industry is in a phase of boom with demand for both personal and commercial vehicles soaring.

3 Trends to Watch out for in the Automotive Wire and Cable Materials Market

The most defining trend in the automotive wire and cable materials market is a shift in the kinds of materials used. Here are the trends in materials that will be most crucial:

Preference for PVC declining:

Leading automotive giants have, or are in the process of, phasing out PVC materials in the wake of several studies evidencing the toxic effects of the material. Moreover, recyclability is also an issue with PVC, prompting environmentalists and regulators authorities to put the material under the scanner.

Window of opportunity for XLPE and PPE:

With the market share of PVC declining, there is now a higher scope for the use of other materials such as PPE and XLPE for insulation in automotive wires and cables. This is expected to create a market for companies engaged in the manufacture and supply of other materials such as XLPE and PPE.

Biobased plasticizers gain prominence:

The commercialization of biobased plasticizers will help the automotive wire and cable materials market reach newer heights. Preliminary studies have shown that PVC manufactured through the use of biobased plasticizers could be up to 40% less toxic than conventionally-manufactured PVC, which uses phthalates.

The highest demand for automotive wire and cable materials comes from Asia Pacific, where transportation networks are getting dense and commercial activity has gathered pace with urbanization initiatives. In the absence of a particularly stringent regulatory framework in several emerging economies such as Indonesia, India, China, and Malaysia, the use of PVC as an automotive wire and cable material still remains unregulated.

This will, however, not be the case for too long as developing nations are committing to ambitious environmental goals, paving the way for materials that have a lower environmental impact, says the Transparency Market Research report.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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