Wire and Cable Compound Market to Hit $30.19 Billion by 2031 | PVC segment Leads with 38.6% Share | Asia-Pacific Fastest Growing at 46.3% | DataM Intelligence

The global wire and cable compound market was valued at $16.31 billion in 2024 and is projected to reach $30.19 billion by 2031, with a Compound Annual Growth Rate (CAGR) of 9.2%. Market is driven by rising demand for electric vehicles, increasing construction activities, and expanding power infrastructure worldwide.


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🔹 United states industry development
✔ U.S. wire and cable market was valued at $31.78 billion in 2024. The market is projected to grow with a Compound Annual Growth Rate (CAGR) of 5.82% from 2025 to 2032, reaching an estimated $49.76 billion by 2032

✔ Strong demand in power, telecom, automotive, and remodeling sectors supports market expansion.

✔ Emphasis on materials complying with fire safety and environmental standards, pushing halogen-free and recyclable compounds innovation.

✔ Increasing investments in renewable energy and smart grid systems require high-performance insulation materials.

🔹 Japan industry development
✔ The wires and cables market was valued at $7.75 billion in 2023 and is projected to reach approximately $10.39 billion by 2030. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.3%

✔ Strong automotive sector growth with increasing vehicle registrations fuels wires and cables demand.

✔ High focus on eco-friendly wires and cables with environmentally safe materials.

✔ Technological advancements enhance material conductivity, insulation, durability, and smart monitoring.

✔ Collaboration between the U.S. and Japan on 5G base stations and undersea cables boosts telecom wire and cable demand.

🔹 Market segmentation-

✔ By Type (Polymer Type):

Polyvinyl Chloride (PVC) leads with approximately 38.6% share (2024), favored for cost and flame resistance.

Non-halogenated polymers (including Thermoplastic Olefins (TPO), Ethylene Vinyl Acetate (EVA), and others) hold around 40%, driven by eco-friendliness and flame-retardant qualities.

Other polymer types like Thermoplastic Polyurethane (TPU), Polyolefin Elastomers (POE), Ethylene Propylene Diene Monomer Rubber (EPDM), and Olefinic Block Copolymers (OBC) account for the remaining share, with rising demand for specialized properties.

✔ By Form:

Solid compounds dominate the market share (majority proportion).

Foamed compounds are growing in niche applications, especially for enhanced insulation and lightweight cable needs.

✔ By End-User Industry:

Construction accounts for about 39% of the market, driven by building wiring demand in residential, commercial, and industrial segments.

Power sector makes up around 35%, fueled by power transmission and renewable energy projects.

Telecommunication represents approximately 15%, boosted by 5G and fiber-optic network expansions.

Transportation (automotive, aerospace) commands around 8%, with increasing electric vehicle wiring needs.

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🔹 Regional insights-

➠ North America: The largest market -34.2% of global sales in 2024.

Growth is driven by strong investments in EV charging infrastructure, smart grid modernization, and renewable‐energy power networks.

Regulatory pressure (e.g., environmental/safety standards) is pushing demand for non-halogenated, low-smoke cable compounds.

➠ Asia‐Pacific: The fastest‐growing region, commanding 46.3% of global sales in 2024 per Mordor Intelligence.

CAGR is strong: ~6.25% projected through 2030.

Key drivers: urbanization, massive infrastructure (power/telecom) build-out in China and India, rural electrification, and surging EV manufacturing capacity.

There is rising usage of high-performance compounds (e.g., XLPE) due to renewable energy grid expansion.

➠ Europe: A mature but evolving market - 22% of demand in 2024.

Growth is moderate, with strong regulatory influence (e.g., push for halogen-free and recyclable compounds) under EU sustainability frameworks.

🔹 Emerging players in the geopolymer market :-

➠ Borealis GmbH (20% market share): Leading due to AI-powered XLPE insulation, flame-retardant polymers, and sustainable cable solutions driving innovation and growth.

➠ Dow Inc. (14%): Strong in thermoplastic elastomers, LSZH compounds, and AI-assisted insulation materials, focusing on environmental compliance and product performance.

➠ Nexans S.A. (12): Known for high-performance polymer compounds in energy cables, leveraging AI for material efficiency and sustainability.

➠ PolyOne Corporation (10%): Specializes in customized thermoplastic compounds and AI-driven flame-retardant, high-performance insulation materials.

➠ SABIC (7%): Develops AI-enhanced polymer formulations for cable sheathing and high-voltage insulation, emphasizing eco-friendly solutions.

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🔹 Key Investment:

➠ Prysmian Group (Italy): Acquired Channell Commercial Corporation for USD 950 million in 2025 to expand North American copper-wire and FTTH enclosure capabilities.

➠ AFL (U.S.): Invested USD 50 million in South Carolina to expand fiber optic cable manufacturing, focusing on sustainable products and American-made materials.

➠ Borealis GmbH (Austria): Acquired Rialti S.p.A. in 2023 to boost recycled polypropylene compound capacity by 50,000 tons, enhancing circular economy offerings.

➠ Syensqo (Belgium): Partnered with Sinopec in May 2025 to collaborate on advanced materials and specialty chemicals for wire and cable applications.

➠ Avient Corporation (U.S.): Launched ECCOH XL 8054 flame-retardant solution in 2025 for low-smoke wire and cable insulation meeting strict European standards.

🔹 Growth Drivers:-
✔ Rising renewable energy investments globally, especially in Europe, North America, and China, drive demand for advanced cable compounds (1.2% CAGR impact).

✔ Expanding construction and infrastructure development boost wire and cable usage in building, power, and communication sectors.

✔ Increasing electric vehicle production creates demand for lightweight, high-performance, flame-retardant cables.

✔ Growth in telecom infrastructure, including 5G rollout and fiber optic deployment, requires durable, high-speed data transmission compounds.

✔ Technological advancements in polymer materials enhance cable durability, insulation, and environmental resistance.

✔ Government regulations encouraging sustainability and safety drive adoption of eco-friendly, non-halogenated compounds.

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