• Wire & cable plastics market remains on a steady positive trajectory to growth with a 5.0% CAGR between 2019 and 2027. The growing demand for flexible polyvinyl chloride or PVC in European region is expected to emerge as a major driver for growth 
• The rising demand for PVCs in Europe, Asia Pacific, and North America will largely be driven by growing demand for electrical equipment and appliances
• The PVC material will reach 4700 kilo tonne output by end of 2022, according to TMR market estimates
• Consumer electronics, and IT devices remain the largest end-segment in the market with a rising demand for soft and bendable PVC products

ALBANY, New York, March 3, 2020 /PRNewswire/ -- The wire and cable plastics market is expected to witness robust growth during 2019-2029 period. The growth will largely come from key sectors of telecommunications, and IT. The telecommunication segment expected to reach a value of US$1.7 bn in the wire and cable plastics market by 2027. The growth in the market is likely remain dominant in Europe region, which accounts for second-largest revenues globally.

Growing demand from Eastern Europe, mainly Russia is also a major positive for growth in the upcoming future. The Asia Pacific region, notable for its IT sector has witnessed some downfall in recent times, with a slowdown in growth of India, and China. According to TMR analysts, "China is witnessing a slowing demand for fiber optic cables which is expected to drive stiff competition in a fragmented market landscape globally during the forecast period."

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Key Findings in the Wire & Cable Plastics Market Study

• High voltage cables, and wires remains the most lucrative segment in the wire & cables plastics market. Their application in power transmission, and growing demand for thermosetting plastics, which can prevent leakage, will drive tremendous growth in the market.
• The growing fragmentation in the market has made it essential to address the problems with plastic disposal. Currently, regional players account for 60% market share in the wire & cable plastics market.
• Players in the wire & cable plastics market are adopting cost-effective disposable plastic solutions with the help of carbon nanotube electric cables.
• 5G will likely be a game-changer for players in the wire & cable plastics market. The growing demand for flexible fabrics, and rising complexity of electrical conductivity are key challenges for players in the wire & cable plastics market.
• Building and construction will emerge as a key arena for growth driving new regions like Asia Pacific. Indian finance minister recently announced a package $1.4 trillion for infrastructure development in the country. The growing cost-effectiveness of wire and cable plastics, and their rising importance in construction sector will create more opportunities for growth.

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Key Impediments for Wire & Cable Plastics Market Players

• Busbar trunking systems are increasingly deployed to prevent potential damage from cables to foreign bodies. Their added costs, and harmful incidents over the years is a key factor restraining growth in the wire & cable plastics market.
• Rising awareness about benefits of busbar trunking systems, and their specialised application for residential and commercial establishment will remain a major challenge for growth in the wire & cable plastics market.

Wire & Cable Plastics Market: Region-wise Analysis

Despite looming slowdowns in key economies of Asia Pacific region, the region will remain a highlight for growth during the forecast period. The growing urbanization, rising construction activity, and rising disposable income will ensure growth of the wire & cable plastics market during 2019-2029 period.

Additionally, the wire & cable plastics market will also witness significant growth in Middle East & Africa. Rising initiatives to upgrade existing infrastructure, and growing economic activity in the region will drive major opportunities for growth for players in the wire & cable plastics market. The demand will rise mainly from communications sector, light, and power sectors in the emerging regions.

Wire & cable plastics market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Wire & Cable Plastics Market: Competition landscape

Solvay Group, Formosa Plastics, SABIC, BASF SE, and Arkema Group are some key companies operating in the wire & cable plastics market. The growing emphasis on technical innovations is a key strategy deployed by some key players like Formosa Plastics to drive growth. The emphasis on manufacturing PVC is also a major factor fuelling growth for large players in the wire & cable plastics market. New product launches, mergers, and acquisitions are also key strategies undertaken by major players to increase their market share.

Global Wire & Cable Plastics Market: Segmentation

Wire & Cable Plastics Market, by Material

• Polyethylene (PE)
• Linear Low-density Polyethylene (LLDPE)
• Low-density Polyethylene (LDPE)
• High-density Polyethylene (HDPE)
• Cross-linked Polyethylene (XLPE)
• Silane
• Peroxide
• Irradiation
• Others (Ultra-high-molecular-weight polyethylene [UHMWPE] and Medium-density polyethylene [MDPE])
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Others (including Polyolefin, Polyvinylidene Fluoride (PVDF), Nylon, Chlorinated Polyethylene [CPE])

Wire & Cable Plastics Market, by Voltage

• Low Voltage
• Medium Voltage
• High Voltage
• Extra-high Voltage

Wire & Cable Plastics Market, by Type

• Flame Retardant
• Standard

Wire & Cable Plastics Market, by End-use Industry

• IT & Telecommunication
• Building & Construction
• Aerospace & Defense
• Automotive
• Oil & Gas
• Power & Energy

Wire & Cable Plastics Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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