Global Wire and Cables Market: Description
Wires and cables play an indispensable role in today’s digitally-enriched life and find extensive usage across a number of applications in several industries. The continuously rising set of applications of wires and cables across the burgeoning power, automotive, telecommunication, and construction industries are expected to bode well for the global consumption of wire and cable materials in the next few years. The market for wire and cable materials, thus, is projected to tread along a healthy growth path over the period between 2016 and 2024.
This report gives thorough insights into the present state of the market and examines the key factors expected to have a notable impact on the overall development of the market in the next few years. As such, aspects such as key trends, drivers, restraints, regulatory framework, and competitive landscape of the market are thoroughly examined. A comprehensive overview of the latest statistics related to key segments in the market is also provides, allowing the reader a decisive insight into the growth prospects of the market from 2016 to 2024.
The market has been segmented based on criteria such as end-use industry, conducting material, insulation material, and geography. Each segment has been analyzed based on demand and supply scenario and latest trends. Market forecast has been generated with the help of logical assumptions and industry-best research methodologies.
Global Wire and Cables Market: Overview
The key end-use industries for the wire and cable market, including telecommunication, power, automotive, and construction, are all exhibiting healthy growth, especially across developing economies in Latin America and Asia Pacific. Asia Pacific presently dominates, accounting for over half of the global wire and cable materials market. The presence of several manufacturing-based economies in the region will continue to drive the market for wire and cable materials in the next few years as well.
The report examines two classes of materials used to manufacture wire and cables: insulating and jacketing materials and conducting materials. Of the key varieties of conducting materials used, including metals such as copper and optical fibers for fiber optic cables, copper is by far the most used material presently. However, the recent rise in demand for high-speed data networks has upped the consumption of fiber optic cables in the telecommunication sector. As a result, the demand for copper is expected to decrease in the next few years.
Of the key insulating and jacketing materials used across the wire and cables industry, including polyvinyl chloride (PVC), cross linked polyethylene, fluropolymers and thermoplastic polyurethanes, the PVC segment is presently the dominant in terms of consumption across the globe. It is, however, facing regulatory concerns owing to its harsh impact on the environment and is being replaced at a rapid pace by materials such as polyolefins, cross-linked polyethylene, commonly known as XLPE, and polyphenylene ether (PPE).
Key Market Players Profiled in the Report
The global wire and cables market features a high degree of consolidation from large vendors based in Asia and North America. Some of the key companies operating in the global wire and cable materials market are Judd Wire, Inc., Leoni AG, Furukawa Electric Industries Ltd., Sumitomo Electric Industries Ltd., and General Cable Corporation among many others.