Global Wire and Cable Compound Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Wire and Cable Compound Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Wire and cable compounds are polyolefin-based materials added to functional polymers. These compounds are powerful, with both electrical and mechanical properties, as well as powerful processing capabilities. And they provide high-quality insulation and sheath with conductive materials.

Market Overview:

The latest research study on the global Wire and Cable Compound market finds that the global Wire and Cable Compound market reached a value of USD 13130.0 million in 2022. It’s expected that the market will achieve USD 18743.46 million by 2028, exhibiting a CAGR of 6.11% during the forecast period.

In the early stages of the COVID-19 outbreak

The new crown virus epidemic that has occurred from December 2019 to the present has posed arduous challenges to various industries and people from all over the world. Facing the severe situation of the rapid spread of the global epidemic, many countries have actively taken prevention and control measures. Internally, group activities are restricted or prohibited to reduce the risk of crowd gathering; externally, border controls are implemented and strict travel restrictions are adopted. So at the beginning of the epidemic, due to the impact of the epidemic, companies in the Wire and Cable Compound industry experienced logistics constraints, insufficient new orders (export orders returned to zero in a short time), limited supply of raw and auxiliary materials, and shortage of epidemic prevention materials, making it difficult for workers to return safely. The severe test of unfavorable factors such as the job, the risk of industry operation and development has increased. In addition, product sales in the industry are not smooth, related supporting industries are not connected smoothly, a variety of factors affect market expectations, cause price fluctuations, and also bring pressure on business operations.

When the COVID-19 is becoming under control, local governments organize the resumption of production and work

In the mid-term, as the new coronavirus epidemic eased, countries began to organize enterprises to resume work in an orderly manner. China's Wire and Cable Compound company has taken the lead in resuming work and production. Companies have arranged for workers to return to work in stages, with the exception of a few areas with the most severe epidemics. Local governments are in accordance with the instructions of the central government to relax some of the temporary restrictions to curb the spread of the new coronavirus and support the orderly resumption of work and production of enterprises, including conducting on-site epidemic prevention inspections and providing enterprises with resumption permits. Even if the prevention and control measures will still affect the flow of personnel and activities, as workers return to work and the demand in downstream industries gradually recovers, the development of the Wire and Cable Compound industry has been restored to a certain extent.

Strength

Wire compounds and cable compounds are an indispensable part of the wire and cable industry-these compounds can provide high-quality insulation and sheathing for conductive materials. These compounds show high durability, excellent chemical resistance, high mechanical stability, flexibility and wear resistance.
The continuous growth of the wire and cable compound market can be attributed to the increasing popularity of Ethernet, the increasing popularity of medical equipment industries such as ultrasound, defibrillator, X-ray equipment, and the advancement of communication technology.

Weakness

The adaptability of advanced compounds in oil, natural gas, marine, aerospace and offshore is becoming stronger, which limits the growth of the market.
Fierce competition in the industry-there are a large number of Wire and Cable Compound manufacturers around the world with roughly the same level of competitiveness, which will affect the bargaining power of major players in the industry and require more research and development to form a unique competitive advantage. And many manufacturers have rich experience in the field of wire compounds and cable compounds, and have a strong brand image, which will raise the barriers to entry for the industry and limit the number of new entrants.

Opportunities


Demand in the construction sector in developing regions has surged-the number of residential construction projects in countries such as China, India and Vietnam have been on the rise, which may increase the consumption of wire and cable composite materials in the region. For example, in 2018, there were approximately 235 airports in China, and the state plans to increase the total to 260 by 2020. It is estimated that by 2035, China will need about 450 airports.
The demand in the power industry is rising-the renewal of the transmission network, the increase in the utilization rate of the power generation and transmission field is expected to provide the impetus for the demand for wire and cable composite materials.

Region Overview:

In 2022, the share of the Wire and Cable Compound market in Asia Pacific stood at 34.5%.

Company Overview:

Prysmian Group is one of the major players operating in the Wire and Cable Compound market, holding a share of 5.36% in 2023.

Prysmian Group

Prysmian Group develops, designs, produces, supplies, and installs a wide range of cables for applications in the energy and telecommunications industries. The Company offers submarine transmission, asset monitoring systems, network components, and optical fibers.

Hanwha

Hanwha Corporation imports and exports petrochemicals, machinery, automotives, electronics, and steel. The Company also produces explosives for the defense and construction industries. In addition, Hanwha manufactures automotive airbag inflators and telecommunication equipment, such as wireless phones and provides financial services through its subsidiaries.

Segmentation Overview:

As for product types, the PE segment held the largest market share in 2022.

PE

Polyethylene (PE) is the most widely used thermoplastic polymer used to make parts. It has various grades and formulas to meet different needs. PE is one of the most widely used polymers for cable insulation and sheathing. Its main characteristics are low dielectric loss, high dielectric strength, chemical inertness, and low moisture absorption.

PVC

Polyvinyl chloride (PVC) is a polymer material obtained by addition polymerization of vinyl chloride. It is the third most widely produced synthetic plastic polymer after polyethylene and polypropylene. PVC cables and wire compounds can be used to manufacture insulation, protective wires and cable sheaths. The main end consumers of PVC-based cables and conductor products are the energy and construction industries.

EVA

Ethylene vinyl acetate copolymers (EVA) is known for its halogen-free, good oil resistance (high content of vinyl acetate) and synergy with many flame retardants (especially magnesium hydroxide (MDH) and aluminum hydroxide (ATH)).

HFFR

Halogen Free Fire Retardant (HFFR) is a compound that replaces PVC. For environmental and safety reasons, the product is halogen-free, flame-retardant, and has low smoke emissions.

TPE

Thermoplastic elastomer (TPE) is a type of copolymer or physical mixture of polymers composed of materials with both thermoplastic and elastic properties. Flexible at low temperatures. It is non-flammable and flexible.

XLPE

Cross-linked polyethylene (XLPE) is a thermosetting insulating material, which has a form of cross-linked polyethylene. XLPE cable polymer is an ideal choice for power transmission and distribution because it has high corrosion resistance in contaminated atmospheric environments, and has better resistance to chemicals and corrosive alkalis.

TPV

Thermoplastic Vulcanisate (TPV) is a form of rubber which has been vulcanised during the compounding process. It is part of the thermoplastic elastomer (TPE) family, and provides high compression set properties for all automotive and cable applications.

TPU

Thermoplastic Polyurethane or TPU is referred to as the bridge between rubbers and plastics. The material appears rubber-like, which means it can be extremely flexible, durable and smooth to the touch. All these properties and compound versatility makes TPU widely used in many industries for coatings, components and customer goods.

Application Overview:

The market's largest segment by application is the segment Power, with a market share of 32.37% in 2022.

Key Companies in the global Wire and Cable Compound market covered in Chapter 3:

OTECH Corporation
Shriram Axiall
Shakun Polymers
Aum Udyog
Alphagary
Aurora Plastics
Melos GmbH
Riyadh Cables Group
ENEOS NUC Corporation
Hanwha
Prysmian Group
SACO AEI Polymers
Abhar Polymer Compounds Co. (APC)
Solvay
DuPont
Electric Cable Compounds
Borealis
SCG Chemicals
Evonik Industries AG
Teknor Apex
Plasgom
Travancore Polymers (P) Ltd
Trelleborg AB
Middle East Specialized Cables
PolyOne
Energya Cables Saudi Arabia

In Chapter 4 and Chapter 14.2, on the basis of types, the Wire and Cable Compound market from 2018 to 2029 is primarily split into:

PE
PVC
EVA
HFFR
TPE
XLPE
TPV
TPU

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Wire and Cable Compound market from 2018 to 2029 covers:

Construction
Automotive
Power
Communication
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)