According to Stratistics MRC, the Global Wire and Cable Materials Market is growing at a CAGR of 5.8% during the forecast period.
Rising advancements in material science, increasing research & development activities, and introduction of new type of wires in accord with applications across various industrial domains are the major factors propelling the market growth. However, volatility in raw material price is hampering the market growth.
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Wire and cable materials offer safe, flexible, and cost-efficient options for power distribution. Wire and cable materials include various types of insulation materials such as polyethylene, polyvinyl chloride, and polypropylene. Plastic in wire and cable serves as a jacketing and insulating material. It protects the underlying cable core against mechanical damage, moisture, and chemicals during installation and throughout the service life of the cable. It also protects people from accidental electrocution. Covering electrical wires in plastic ensures that the electrons flowing through the wires do not flow through the body when the wire is touched. These features of plastic insulated wires make them a lucrative option over alternate solutions.
Based on application, the power cable segment is going to have a lucrative growth during the forecast period owing to the increasing investment in renewable energy sources and power distribution sector. In addition to this, supportive government initiatives for the development of renewable power are also a prominent factor responsible for the growth of renewable power generation, which, in turn, would further drive the demand for power cables.
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By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increase in energy usage in sectors such as industry, transport, and household, and in newly electrified rural areas in countries of the region. The construction sector in China is expanding rapidly, due to rise in population, growth in industrialization, and increase in foreign investments. Moreover, demand for housing among the middle-income group in India is expected to increase over the next few years.
Some of the key players profiled in the Wire and Cable Materials Market include 3M, Alphagary, BASF SE, Celanese Corporation, Dow, Dr. Dietrich Müller GmbH, DuPont, Elantas GmbH, Exxon Mobil Corporation, ITW Formex, Nikkan Industries Co., Ltd, and NITTO DENKO CORPORATION.
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• Insulation Material
• Conductor Material
• Telecom & Data Cable
• Signal & Control Cable
• Power Cable
• Low Voltage Energy
• Fiber Optic Cable
• Coaxial Cable/Electronic Wire
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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