Report Scope & Overview:
Wire & Cable Compounds Market Size was valued at USD 14.30 billion in 2022, and expected to reach USD 28.92 billion by 2030, and grow at a CAGR of 9.2 % over the forecast period 2023-2030. A wire is a single, mostly cylindrical rod or strand of metal. The wires can handle mechanical loads and can carry electricity and signals for telecommunications. A cable is a thick rope made of hemp or wires that is used to build things, pull cars, and keep ships in place. Compounds are things that are made to stop water from getting into telecommunications and power cables. Wire compounds and cable compounds are good insulators that are long-lasting, flexible, and have a high level of mechanical stability. They are also resistant to chemicals and corrosion. These compounds are used a lot in the building, power, and communication industries because they protect materials that conduct electricity.
The construction industry is growing the most in all areas.
Government and private spending on developing renewable energy sources has gone up.
More people want cars that are lighter and use less gas.
Demand for high-tech wires and cables is going up in the offshore, marine, aerospace, and oil and gas industries.
Government rules that limit how halogenated polymers can be used
Demand went down because of the global pandemic.
Electric cars are becoming more popular.
Rising Demand from Emerging Markets
Getting better at wireless communication
Keeping supply chains from stopping because of COVID-19
Impact of Covid-19:
Wire and cable compounds are used by almost every business. Some of the main things driving the market are more demand from the power generation, automotive, and construction industries. Before the COVID-19 pandemic, the construction and power generation industries were doing very well because the population was growing and people were spending more money. This made people all over the world want more wire and cable compounds. But when COVID-19 happened, it changed the economy in a big way. The effects of COVID-19 on the different end markets became clear when factories closed, construction projects were delayed or cancelled, and car sales dropped, among other things. The closing of international borders also caused problems with the supply chain. Most of the raw materials used to make wire and cable compounds come from countries like China, which exports them. This has a big effect on the market. Because of this, there was a shortage of goods on the market.
Hanwha Solutions Corporation (South Korea), DuPont de Nemours Inc. (US), Evonik Industries AG (Germany), Siam Cement Public Company Limited (Thailand), Borouge (UAE) Avient Corporation (US), Eastman Chemical Company (US), Solvay S.A. (Belgium), Mitsubishi Chemical Corporation (Japan), Trelleborg AB (Sweden), Exxon Mobil Corporation (US)
Non- Halogenated Polymers
By end-use industry:
Construction Wind Energy
In 2021, North America had the largest share of the market. The market in the region depends a lot on industrial growth in the domestic market. The growth of the area is due to improvements in technology and infrastructure in the telecommunications sector. Increased state funding to develop green and clean energy through the use of renewable power plants and windmill-powered plants is expected to drive the wire and cable compounds industry in the power industry.
In 2021, the global market for wire and cable compounds is expected to grow at a high CAGR in Asia Pacific. During the time frame of the forecast, energy use in industry, transportation, households, and newly electrified rural areas in the countries of the Asia-Pacific region is expected to go up quickly, along with the demand for energy.
China's economy is growing quickly because of its growing population, growing industries, and more foreign investment. The Indian government is working hard to close the gap between demand and supply. Over the next few years, these things are expected to drive the Asia-Pacific wire and cable compounds industry.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 14.30 Billion|
|Market Size by 2030||US$ 28.92 Billion|
|CAGR||CAGR of 9.2% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Halogenated Polymers, Non- Halogenated Polymers)
• By end-use industry (Construction Wind Energy, Power, Communication, Automotive, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Hanwha Solutions Corporation (South Korea), DuPont de Nemours Inc. (US), Evonik Industries AG (Germany), Siam Cement Public Company Limited (Thailand), Borouge (UAE) Avient Corporation (US), Eastman Chemical Company (US), Solvay S.A. (Belgium), Mitsubishi Chemical Corporation (Japan), Trelleborg AB (Sweden), Exxon Mobil Corporation (US)|
|DRIVERS||• The construction industry is growing the most in all areas.
• Government and private spending on developing renewable energy sources has gone up.
• More people want cars that are lighter and use less gas.
|Restraints||• Government rules that limit how halogenated polymers can be used
• Demand went down because of the global pandemic.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Hanwha Solutions Corporation (South Korea), DuPont de Nemours Inc. (US), Evonik Industries AG (Germany), Siam Cement Public Company Limited (Thailand), Borouge (UAE) Avient Corporation (US), Eastman Chemical Company (US), Solvay S.A. (Belgium), Mitsubishi Chemical Corporation (Japan), Trelleborg AB (Sweden) and Exxon Mobil Corporation (US).
Ans: Electric cars are becoming more popular and Rising Demand from Emerging Markets are the opportunity for Wire & Cable Compounds Market.
Ans: The construction industry is growing the most in all areas, Government and private spending on developing renewable energy sources has gone up and More people want cars that are lighter and use less gas are the drivers for antimicrobial plastics market.
Ans: Wire & Cable Compounds Market Size was valued at USD 13.10 billion in 2021, and expected to reach USD 24.26 billion by 2028, and grow at a CAGR of 9.2 % over the forecast period 2022-2028.
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Wire & Cable Compounds Market Segment, By Type:
8.1 Halogenated Polymers
8.2 Non- Halogenated Polymers
9.Wire & Cable Compounds Market Segment, By end-use industry:
9.1 Construction Wind Energy
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profile
11.1 Hanwha Solutions Corporation (South Korea)
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 DuPont de Nemours Inc. (US)
11.3 Evonik Industries AG (Germany)
11.4 Siam Cement Public Company Limited (Thailand)
11.5 Borouge (UAE) Avient Corporation (US)
11.6 Eastman Chemical Company (US)
11.7 Solvay S.A. (Belgium)
11.8 Mitsubishi Chemical Corporation (Japan)
11.9 Trelleborg AB (Sweden)
11.10 Exxon Mobil Corporation (US)
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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