Market Overview

The Global Cable Compounds Market size was valued at USD 12.5 Billion in 2022 and is projected to reach USD 24.91 Billion by 2030, growing at a CAGR of 9.00% from 2023 to 2030.

Over the next ten years, from 2022 to 2030, the market for cable additives is expected to grow a lot. This is because more people are going to cities, which makes the building business busier. The growing popularity of the idea of a "smart city" is also helping the cable compound market grow. Also, the traits of cable compounds make them a popular choice in a wide range of situations.

Market Dynamics

Trends: To dominate the market, the power industry

The power sector is currently in first place because it uses a lot of wire and cable material to move power.

Wire and cable compounds are becoming more common because they have high-quality insulation, sheaths for the conductors, high durability, resistance to chemicals and corrosion, better mechanical stability, elasticity, and resistance to wear and tear.

As more power plants are built in places like China, India, the United Kingdom, the United States, and Vietnam, among others, these countries are likely to increase their demand for the wire and cable compound market during the projection period.

The market will be run by Asia-Pacific

Most people are likely to use wire and cable combinations in the Asia-Pacific area. The market is expected to grow because of things like the growing need for energy, the high demand from the building industry, and the growing buying power of people in places like China, India, and the ASEAN countries.

Since power transmission networks are being updated, wire and cable compounds will be used more in the production and transfer of electricity. Wire and cable combinations will be in higher demand because of this.

More people are using ethernet, networking technology is getting better, and more people are using medical devices like defibrillators, X-ray machines, and ultrasound machines. This means that the market for wire and cable compounds is growing.

Drivers: Demand from the Construction Industry is Growing

Wires and cords are often used in homes and businesses because, once set up, they make sure that electricity moves safely. When making structures, using a thermoplastic polyurethane wire compound makes them last longer and look better. Because low-voltage copper conductors are used so often in home wiring and industrial lighting circuits, the building and construction industry needs more and more of them. 

Investing in the telecommunications sector is Growing

Polyvinyl chloride compounds are used in the telecommunications business because they are good electrical insulators and have good physical qualities at both low and high temperatures. They are great for phone lines and power wiring because of this. So, it's possible that more wire and cable materials will be needed as the telecom industry grows. This band gives mobile phone and internet service more room, which makes mobile networks more important. Since the telecom business around the world is growing, more wire and cable compounds are likely to be needed.

Restraints: The government has put limits on how halogenated plastics can be used

The Construction Products Regulation (CPR) of the European Union is a big piece of legislation that covers many different parts of all building products sold in the European Economic Area. (EEA). The CPR uses standardized test methods and standards to make sure that performance data for materials are correct. These tests measure how well lines work by looking at important things like how easy it is for them to catch fire, how fast and far the fire spreads, how much smoke they make when they burn, and how toxic and corrosive the byproducts of their burning are. The number of halogenated chemicals that can be used in the wire and cable business is limited by this rule. Because the EU told builders to use lines and cords without halogen, the market for halogenated polymers is slowly growing in the area.

The US National Institutes of Health says that rules and policies about how the government gets things could limit how much polyvinyl chloride (PVC), chlorinated polyethylene (CPE), and chlorinated PVC can be used. Halogenated polymers are controlled, and because of concerns about the environment, wire and cable makers all over the world have made up their own rules to limit or stop using them.

Opportunities: Rising desire in developing nations

Wire and cable components have always been most popular in North America and Europe. In the last few years, however, attitudes toward Asia-Pacific's developing countries have changed a lot. Because these countries are becoming more industrialized quickly, the building and infrastructure industries are growing quickly. Because of this, the need for building products is going up. Lines and wires are in high demand in developing countries because they are used to build things. People in developing countries are finding that taking a business plan is a good way to get from one place to another. Customers in developing countries are more likely to choose air travel over other kinds of transportation because it is fast, easy, and cheap. Modern, light airplanes with a wide range of travel and low operating costs have made it possible to start low-cost companies that span long distances. These business strategies make it easy for airlines to fly between cities, which is good for passengers. The flight industry will need more wires, cables, and wire and cable compounds as it makes more business planes.

Challenges: The use of wireless communication is growing

The market for wire and cable compounds is being hurt by the growth of the wireless transmission market. Because communication technology is changing and the industry is moving toward wireless communication, there isn't much room for the market for wire and cable compounds to grow. At first, a big part of the information business was wired transmission. But as wireless communication grows, the market for wire and cable compounds is expected to grow more slowly. Mobile phones have replaced landlines, and big antennas have given way to small ones. So, changes in wireless communication technology are causing a big problem for the market for wire and cable compounds. 

Health and the environment are getting more attention

Even though polyvinyl chloride compounds are not biodegradable, polyvinyl chloride cables and other halogenated polymers are a cheap option for electrical lines. The world will have to deal with these leftovers for a very long time. There is a lot of chlorine in polyvinyl chloride. When chlorine is burned, it makes a lot of smog, which makes it hard to breathe in places where there are a lot of people. Polyvinyl chloride can be used to make harmful chemicals like poisons and hydrochloric gas. So, Canada started controlling PVC plastic as a dangerous material in May 2021.  This is one of the biggest problems the wire compound and cable compound business is having right now.

The future of the wire compound and cable compound market

Major Market Segments Covered 

On the basis of Type:

PE

Heavy industry often needs cables with PE polyethylene covering because they can stand up to wear, water, chemicals, and oils very well.

PVC

Halogenated plastics like polyvinyl chloride (PVC) and chlorinated polyethylene (CPE) are used a lot in wire, shoes, polymers, and packing. Compared to CPE, PVC can be used for more things. Out of all halogenated and non-halogenated polymers, PVC mixtures had the largest share of the market. 

Halogenated Polymers

On the market for wire and cable compounds around the world, the halogenated polymer area is expected to bring in the most money.

Non- Halogenated Polymers

When a fire starts, halogen-free wires don't give off any harmful or corrosive gasses that could hurt people or buildings. Unlike PVC lines, halogens in combustion gasses do not have to be removed in a dangerous way.

On the basis of Application:

Construction

Steel is by far the most common material for making industrial wires. But steel comes in different forms. Stainless steel and treated steel are the two most common types.

Power

Power lines are made of strands of copper or other metal wires. Small power lines can use solid conductors up to size 1/0. (For a detailed discussion on copper cables, see: Copper wire and cable.). There may be neutral or ground wires in the cable that are not insulated. To keep people from getting electric shocks, the grounding wire connects the equipment's case or chassis to the ground. Because they don't have shielding, these are called "bare conductors" or "tinned bare conductors." 

Communication 

Telecommunications power cable products, as described in Telcordia GR-347, have a stranded copper conductor that is used in AC/DC lines up to 600 V and is insulated with non-halogen, limited smoke, polyolefin materials that are heat-resistant, moisture-resistant, and flame-retardant.

Automotive

Copper and aluminum are the two main materials used to make car wire. Copper is more flexible and less likely to rust than metal. It also conducts electricity better. Copper, on the other hand, is heavier and its price can change, so to keep your costs down, you'll need a good dealer.

Construction Wind Energy

A wind machine is made up of five main parts and many smaller ones. The main parts are the base, the tower, the rotor and hub (which each have three blades), the nacelle, and the engine. To put each of these parts in place, you need a different kind of wind turbine tool.

 Regional insights

The global Cable Compounds market has been looked at in different parts of the world, like North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. (MEA).

It is thought that North America will be the place with the most growth in the cable compounds market. The growing telecoms industry in this area is likely to give the cable compounds market a big boost. Due to more people moving to cities in many Asian and Pacific countries, the region is likely to grow quickly.

Scope Of Report

Key Vendors

• DuPont de Nemours, Inc. (US)
• Solvay S.A. (Belgium)
• Evonik Industries AG (Germany)
• Borouge (UAE)
• Avient Corporation (US)
• Eastman Chemical Company (US)
• Exxon Mobil Corporation (US)
• Hanwha Solutions Corporation (South Korea)
• Siam Cement Public Company Limited (Thailand)
• Trelleborg AB (Sweden)
• Mitsubishi Chemical Corporation (Japan) and others

• Solvay S.A. (Belgium)

Industry Developments

In November 2021, companies that make cables for telecom and commercial use will. These materials add to its Low Smoke and Fume Non-Halogen (LSFOH) line and give it new ways to cut down on waste by making cables last longer.

In November2021, ADNOC and Borealis signed a final investment agreement to build Borouge 4 in Ruwais, UAE. This plant is planned to make 1.4 million tons of polyethylene per year. As part of the growth project, a 1.5-million-ton ethane cracker, two state-of-the-art Borstar polyethylene plants, and a cross-linked polyethylene plant will be built.

In September 2020, Borealis, Borouge, and Itochu all said that they planned to work together to figure out how to help the Japanese market use more green polypropylene (PP).

Market segmentation

The Cable Compounds market research report is categorized based on type, applications and region.

On the basis of type

• PE
• PVC
• Halogenated Polymers
• Non- Halogenated Polymers

On the basis of Application

• Construction
• Power
• Communication
• Automotive
• Construction Wind Energy

The global Cable Compounds Market Regional insights

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia-Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Conclusion

The study gives the most in-depth information about the market. The framework of the report has been kept in a way that gives the most business value. It gives important information about how the market works and will help market players and people who want to join the market make smart decisions. This report looks at the market, showing a trend and making a prediction. The report gives thorough information about how the market works so that businesses can make decisions and make plans for growth based on the opportunities in the market. The main thing that drives the rise of the market is the rising demand for building infrastructure in countries with growing economies. The market is also growing because there is an increasing need for wire and cable compounds in the car industry and more money is being spent by the private sector and the government on using renewable energy sources. Also, the growth of the market is being slowed by the growing use of advanced compounds in oil and gas, marine, aircraft, and offshore. But things like government rules that limit how halogenated plastics can be used and slow growth are likely to slow the growth of the market.