Wire & Cable Compounds Market Expected To Reach $20.05 billion in 2028

Overview and Scope

Wire and cable compounds refer to substances that are used to formulate insulating and jacketing materials for wires and cables to protect telecommunication and power transmission wires from moisture intrusion and are also used to create wires and cables with exceptional durability, corrosion and chemical resistance, mechanical stability, flexibility, and abrasion resistance.

Sizing and Forecast
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 growth in the historic period can be attributed to infrastructure development, expanding telecommunication networks, automotive industry growth, renewable energy projects, urbanization and construction activities.

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%. The growth in the forecast period can be attributed to 5G technology deployment, electric vehicle (EV) market expansion, renewable energy integration, smart cities initiatives, upgradation of power grids. Major trends in the forecast period include development of low-smoke zero-halogen (LSZH) compounds, demand for high-performance compounds in data communication, focus on lightweight and environmentally friendly materials, integration of nanotechnology for enhanced properties, customized formulations for specific applications.

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Segmentation & Regional Insights
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

North America was the largest region in the wire & cable compounds market in 2023. The regions covered in the wire & cable compounds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

The wire & cable compounds market report table of contents includes:

1. Executive Summary

2. Wire & Cable Compounds Market Characteristics

3. Wire & Cable Compounds Market Trends And Strategies

4. Wire & Cable Compounds Market – Macro Economic Scenario

5. Global Wire & Cable Compounds Market Size and Growth

…..

32. Global Wire & Cable Compounds Market Competitive Benchmarking

33. Global Wire & Cable Compounds Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Wire & Cable Compounds Market

35. Wire & Cable Compounds Market Future Outlook and Potential Analysis

36. Appendix

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