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Wire & Cable Compounds Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Wire & Cable Compounds Global Market
As per the report, the wire & cable compounds market size has grown rapidly in recent years. It will grow from $12.63 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The wire & cable compounds market size is expected to see strong growth in the next few years. It will grow to $20.05 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
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Wire And Cable Compounds Market Surge Fueled By Robust Growth In The Global Construction Sector
The growing construction sector is expected to propel the growth of the wire and cable compounds market going forward. The construction sector refers to the sector of industry and trade that deals with creating, maintaining, and repairing infrastructures. Wire and cable compounds are used in the construction sector to provide wires with a high level of insulation and to stop moisture from getting inside power transmission or telecommunication cables. For instance, in January 2022, according to Global Construction Perspectives and Oxford Economics, UK-based academic economists, by 2030, global construction production is expected to increase by 85% to $15.5 trillion, with China, the United States, and India taking the lead and contributing 57% of the increase. Over the next 15 years, the US construction market is going to expand more quickly than China's. Therefore, the growing construction sector is driving the growth of the wire and cable compounds market.
Technological Advancements Transforming The Wire & Cable Compounds Market
Technological advancements are a key trend gaining popularity in the wire and cable compounds market going forward. Major companies are developing new products with advanced technologies to sustain their position in the wire and cable compounds market. For instance, in February 2022, Lubrizol Corporation, a US-based chemicals company launched a new non-halogenated, flame-retardant grade polymer compound for wire and cable applications. The new compound is made without the use of halogens and has improved key performance attributes like drying time, drying temperature, mechanicals, and flame retardant properties.
The wire and cable compounds market covered in this report is segmented -
1) By Type: Halogenated Polymers, Non-Halogenated Polymers
2) By Function: Insulation, Sheathing
3) By End-Use Industry: Construction Wind Energy, Power, Communication, Automotive, Other End Use Industries
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Major companies operating in the wire & cable compounds market report are Exxon Mobil Corporation, Mitsubishi Chemical Corporation, Sumitomo Electric Industries Ltd., Evonik Industries AG, Prysmian Group, DuPont de Nemours Inc., Siam Cement Public Company Limited, Solvay S.A., Hanwha Solutions Corporation, Nexans SA, Borouge, Avient Corporation, Cabot Corporation, Trelleborg AB, Eastman Chemical Company, Belden Inc., Teknor Apex Company, SCG Chemicals Co Ltd., Southwire Company LLC, RIKEN TECHNOS CORPORATION, Electric Cable Compounds Inc, Chemceed LLC, Alphagary Limited, BUSS AG, Melos GmbH, Dugar Polymers Limited, Relicab Cable Manufacturing Limited, Techno Vinyl Polymers India Ltd., General Cable Technologies Corporation, PVCL
Contents of the report:
1. Executive Summary
2. Wire & Cable Compounds Market Report Structure
3. Wire & Cable Compounds Market Trends And Strategies
4. Wire & Cable Compounds Market - Macro Economic Scenario
5. Wire & Cable Compounds Market Size And Growth
…..
27. Wire & Cable Compounds Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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