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The wire and cable plastics market size is projected to reach US$ 17.88 billion by 2031 from US$ 11.58 billion in 2023; the market is expected to register a CAGR of 5.6% during 2023–2031. The increasing focus on recycling and bio-based materials is expected to bring new trends to the market in the coming years.
Wire and Cable Plastics Market Analysis
The energy & power industry is witnessing a substantial surge in demand for wire and cable plastics, driven by the global shift toward advanced energy infrastructure, renewable energy integration, and the modernization of aging power systems. Plastics, including polyethylene (PE), polyvinyl chloride (PVC), and cross-linked polyethylene (XLPE), are integral materials in the insulation, sheathing, and protection of wires and cables. These plastics offer unique properties, such as flexibility, electrical resistance, durability, and cost-effectiveness, making them indispensable in meeting the growing demands of the industry. With the rising utilization of renewable energy sources such as solar, wind, and hydropower, the need for robust and reliable cabling solutions is escalating. These energy systems often operate in challenging environments, exposing cables to extreme temperatures, UV radiation, and moisture. The increasing focus on electrification in remote and underserved areas, particularly in developing countries, also propels this demand.
Wire and Cable Plastics Market Overview
Plastics are used in wires and cables as a jacketing and insulating material. A few commonly used plastics for wire and cables are polyethylene, polyvinyl chloride, polypropylene, cross-linked polyethylene, and thermoplastic elastomers, among others. Plastic-insulated wires and cables are highly used in residential, commercial, and industrial applications as they securely provide electricity, data, and voice communication to electrical devices. Wires and cables are used in industries such as construction, automotive, electrical & electronics, aerospace & defense, telecommunications, oil & gas, energy & power, etc.
A few of the major factors driving the wire and cables plastics market are the rising demand from the energy & power industry and the growing building and construction industry. The global energy & power industry is witnessing substantial growth, driven by the global shift toward advanced energy infrastructure and renewable energy integration.
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Wire and Cable Plastics Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Wire and Cable Plastics Market: Strategic Insights
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Wire and Cable Plastics Market Drivers and Opportunities
Growing Building and Construction Industry
The building and construction industry’s growth is fueled by several factors, including the increasing need for infrastructure development, the rise in residential and commercial construction, and advancements in modern electrical systems. As the global population grows and urbanization accelerates, there is a surging demand for electricity and communication networks, both of which are reliant on the efficient use of wires and cables. Electrical wiring is essential for powering homes, offices, schools, hospitals, and other critical infrastructures. Further, the integration of smart technologies in modern buildings, including smart lighting, HVAC systems, and security solutions, fueled the need for advanced cables capable of supporting higher power loads and data transmission.
In Europe, the growing population of countries such as the UK, Austria, Italy, and France, as well as urbanization, is leading to an urgent need for more housing. In response, both private developers and governments of these countries have initiated extensive housing projects to alleviate the housing shortage. For instance, under the Affordable Homes Programme 2021–2026, the UK government has planned to deliver up to 180,000 new homes. The variety of residential developments, from high-rise apartments and suburban houses to luxury estates and affordable housing, requires a wide range of wires and cables. These products offer a solution for homeowners seeking modern, high-performance wires and cables that can withstand the varying climates of countries in Europe. In the construction industry, innovative and durable wires and cables are vital for powering modern infrastructure, supporting digital connectivity, and ensuring the safety and efficiency of building systems. Thus, the growing building and construction industry fuels the wire and cable plastics market growth.
Robust Telecommunication Infrastructure Expansion
The global telecommunications industry is expanding, which is driven by technological advancements and increasing internet penetration, leading to an increased need for robust and reliable cabling infrastructure. This demand directly impacts the consumption of plastics used in manufacturing telecommunication cables, including optical fiber cables, coaxial cables, and ethernet cables—which rely on materials such as PE, PVC, and PP for insulating, jacketing, and durability. With 5G technology requiring high-capacity fiber optics cables for seamless data transmission, the telecommunication industry demands superior quality that offers enhanced protection against environmental factors such as moisture, heat, and UV radiation. Further, data centers and cloud servers are essential for storing and processing massive volumes of data and require extensive cabling networks for power distribution, data transmission, and cooling systems. Plastics play a crucial role in providing insulation and durability for these cables, ensuring operational efficiency and safety. As enterprises and governments invest in building new data centers and upgrading existing ones, the demand for high-quality, heat-resistant, and fire-retardant plastics for wire and cable applications is expected to rise in the future.
Wire and Cable Plastics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the wire and cable plastics market analysis are material, voltage, and end-use industry.
- Based on material, the wire and cable plastics market is segmented into polyethylene, polyvinyl chloride, polypropylene, cross-linked polyethylene, thermoplastic elastomers, and others. The cross-linked polyethylene segment held the largest wire and cable plastics market share in 2023.
- By voltage, the market is categorized into low, medium, high, and extra-high. The low segment dominated the wire and cable plastics market in 2023.
- Based on end-use industry, the market is segmented into construction, automotive, electrical and electronics, aerospace and defense, telecommunications, oil and gas, energy and power, and others. The construction segment dominated the wire and cable plastics market in 2023.
Wire and Cable Plastics Market Share Analysis by Geography
The geographic scope of the wire and cable plastics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is expected to dominate the market over the forecast period. Asia Pacific is one of the prominent markets for utilizing wire and cable plastics, owing to the growing automotive, electronics, construction, and energy & power industries. Asia Pacific is a global leader in consumer electronics, with major companies such as Samsung, Sony, and Xiaomi at the forefront of innovation. Asia Pacific is a global hub for consumer electronics production, with countries such as China, South Korea, Japan, and India hosting major manufacturing facilities for smartphones, laptops, wearable devices, and home appliances. Investments in electronics production facilities across Asia, especially in China and South Korea, have accelerated the adoption of wire and cable plastics to meet the technical demands of high-performance consumer electronic devices.
The expanding construction industry in Asia Pacific is a key driver of the market, as ongoing residential, commercial, and industrial projects demand efficient power distribution systems. Wire and cable plastics play a vital role in ensuring safety, durability, and insulation in these applications. Moreover, government-led initiatives to enhance renewable energy adoption, such as solar and wind power projects, have further increased the need for durable and weather-resistant cable materials.
Wire and Cable Plastics Market Report Scope
Wire and Cable Plastics Market News and Recent Developments
The wire and cable plastics market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the wire and cable plastics market are listed below:
- BASF SE announced the launch of ether-based thermoplastic polyurethane: Elastollan 1400. This product aims to provide exceptional hydrolysis and microbe resistance, combining stable processing behavior with good compression set properties. (Source: BASF SE, Company Website, October 2024)
- Dow Inc. launched a range of REVOLOOP Recycled Plastics Resins, which incorporates post-consumer recycled (PCR) material into cable jacketing. The launch was aimed to cater to the demand for consumer sustainability goals. (Source: Dow, Company Website, September 2023)
- Borealis AG announced the launch of the Renewables line of Queo, a range of elastomers and elastomers based on renewable feedstock. The launch was aimed to cater to the growing demand for sustainable solutions. (Source: Borealis AG, Company Website, May 2023)
Wire and Cable Plastics Market Report Coverage and Deliverables
The "Wire and Cable Plastics Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Wire and cable plastics market size and forecast for all the key market segments covered under the scope
- Wire and cable plastics market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter's Five Forces and SWOT analysis
- Wire and cable plastics market analysis covering key market trends, country framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the wire and cable plastics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The cross-linked polyethylene segment held the largest share of the global wire and cable plastics market in 2023.
In 2023, Asia Pacific held the largest share of the global wire and cable plastics market owing to the growing automotive, electronics, construction, and energy & power industries.
Dow Inc, Exxon Mobil Corp, LyondellBasell Industries NV, Solvay SA, Borealis AG, BASF SE, Saudi Basic Industries Corp, LG Chem Ltd, Arkema SA, and Celanese Corp. are among the key players operating in the wire and cable plastics market.
The rising demand from the energy & power industry and the growing building and construction industry are driving the market.
The market is expected to register a CAGR of 5.6% during 2023–2031.
The increasing focus on recycling and bio-based materials is expected to emerge as a future trend in the market.
The List of Companies - Wire and Cable Plastics Market
- Dow Inc
- Exxon Mobil Corp
- LyondellBasell Industries NV
- Solvay SA
- Borealis AG
- BASF SE
- Saudi Basic Industries Corp
- LG Chem Ltd
- Arkema SA
- Celanese Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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