Farmington, April 29, 2023 (GLOBE NEWSWIRE) -- The Global Cable Compounds Market size was valued at USD 12.5 Billion in 2022 and is projected to reach USD 24.91 Billion by 2030, growing at a CAGR of 9.00% from 2023 to 2030. The market for cable additives is anticipated to expand significantly. This is because more people are moving to cities, making the construction industry livelier. The increasing prevalence of the concept of a "smart city" also contributes to the expansion of the cable compound market. In addition, the characteristics of cable compounds make them a popular option in a variety of situations. Access to a variety of locations in developing economies is made possible by the accessibility of commercial air travel at an affordable price. Customers in developing nations prefer air travel to other modes of transportation because it is more affordable, faster, and more convenient. Demand for the product in the aerospace industry is anticipated to increase in tandem with commercial aircraft production.
Request Sample Copy of Report “The Global Cable Compounds market Size, Share & Trends Estimation Report By Type Outlook (PE, PVC, Halogenated Polymers, Non- Halogenated Polymers), By Application Outlook (Construction, Power, Communication, Automotive, Construction Wind Energy), Region and Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
PE
Because they are resistant to abrasion, water, chemicals, and lubricants, PE polyethylene-coated cables are frequently used in heavy industry.
PVC
Polyvinyl chloride (PVC) and chlorinated polyethylene (CPE) are widely used in wire, footwear, polymers, and packaging. Compared to CPE, PVC has a wider range of applications.
Halogenated Polymers
On the global market for wire and cable compounds, halogenated polymers are anticipated to generate the most revenue.
Non- Halogenated Polymers
Halogen-free wires do not emit any harmful or corrosive gases that could harm people or structures in the event of a fire.
Application Outlook
Construction
Steel is by far the most prevalent material used to manufacture industrial conductors.
Power
Power lines consist of copper or other metal wire strands. Small power lines may employ solid conductors up to 1/0 in diameter. Uninsulated neutral or ground conductors may be present in the cable.
Communication
Telcordia GR-347-compliant telecommunications power cable products have a stranded copper conductor used in AC/DC lines up to 600 V and are insulated with non-halogen, limited emission, polyolefin materials that are heat-resistant, moisture-resistant, and flame-retardant.
Automotive
Copper and aluminum are the two primary materials used to manufacture automobile wire. Copper is more malleable and rust-resistant than metal. It conducts electricity better as well.
Construction Wind Energy
A wind machine consists of five major components and numerous minor ones. The primary components consist of the base, the tower, the rotor and hub (each with three blades), the nacelle, and the engine.
Regional Analysis:
It is anticipated that North America will experience the greatest development in the market for cable compounds. The expanding telecoms industry in this region is anticipated to have a substantial impact on the cable compounds market. As more people migrate to cities in numerous Asian and Pacific nations, the region is likely to expand rapidly.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 9.00% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 24.91 billion |
| By Type |
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| By Application |
|
| By Companies |
|
| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Trends: In order to dominate the market, the power industry must
The power sector is presently in first place due to its extensive use of wire and cable material.Wire and cable compounds are becoming more widespread due to their superior insulation, conductor sheathing, high durability, resistance to chemicals and corrosion, improved mechanical stability, elasticity, and resistance to wear and strain.
Drivers: Demand is increasing in the construction industry
Wires and cords are commonly used in households and businesses because, once installed, they ensure the safe flow of electricity.
Restraints: The government has imposed restrictions on the use of halogenated plastics.
The European Union's Construction Products Regulation (CPR) is a large piece of legislation that regulates numerous aspects of all construction products sold in the European Economic Area (EEA). The CPR employs standardized test methods and standards to verify the accuracy of performance data for materials.
Opportunities: Rising aspiration in developing countries
North America and Europe have always been the leading markets for wire and cable components. However, attitudes toward Asia-Pacific's developing countries have changed significantly in recent years.
Challenges: Wireless communication is increasingly used
The expansion of the wireless transmission market is having a negative impact on the wire and cable compound market. Due to the evolution of communication technology and the industry's shift toward wireless communication, there is little space for growth in the market for wire and cable compounds.
Key Segments Covered:
Top Market Players:
- DuPont de Nemours, Inc. (US)
- Solvay S.A. (Belgium)
- Evonik Industries AG (Germany)
- Borouge (UAE)
- Avient Corporation (US)
- Eastman Chemical Company (US)
- Exxon Mobil Corporation (US)
- Hanwha Solutions Corporation (South Korea)
- Siam Cement Public Company Limited (Thailand)
- Trelleborg AB (Sweden)
- Mitsubishi Chemical Corporation (Japan) and others
By Type
- PE
- PVC
- Halogenated Polymers
- Non- Halogenated Polymers
By Application
- Construction
- Power
- Communication
- Automotive
- Construction Wind Energy
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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