๐ช๐ถ๐ฟ๐ฒ & ๐๐ฎ๐ฏ๐น๐ฒ ๐ฃ๐น๐ฎ๐๐๐ถ๐ฐ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐: ๐๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป
The global wire & cable plastics market was valued at ~US$ 10.8 Bn in 2018 and is anticipated to expand at a CAGR of ~4% from 2019 to 2027. In 2018, China and the U.S., the world’s two major power sectors, accounted for 70% of the global electricity demand. Increase in the demand for electricity is expected to drive the global wire & cable plastics market during the forecast period.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=65801
๐๐ฒ๐ ๐๐ฟ๐ถ๐๐ฒ๐ฟ๐ ๐ผ๐ณ ๐ช๐ถ๐ฟ๐ฒ & ๐๐ฎ๐ฏ๐น๐ฒ ๐ฃ๐น๐ฎ๐๐๐ถ๐ฐ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐
Plastic-insulated wires and cables play a pivotal role in residential, commercial, and industrial establishments, as they are used for delivering power, data, and voice communication safely to electric devices. Hence, increase in investments in the building & construction industry led by rise in the purchasing power parity along with improvement in the living standards is anticipated to propel the global wire & cable plastics market during the forecast period.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=65801
๐๐ง๐๐ซ๐๐๐ฌ๐ ๐ข๐ง ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐ซ๐จ๐ฌ๐ฌ-๐ฅ๐ข๐ง๐ค๐๐ ๐๐จ๐ฅ๐ฒ๐๐ญ๐ก๐ฒ๐ฅ๐๐ง๐ ๐ญ๐จ ๐๐๐๐๐ซ ๐๐ญ๐ญ๐ซ๐๐๐ญ๐ข๐ฏ๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ
Rise in urbanization, increase in population, and improvements in economic conditions across different regions are projected to drive the demand for houses worldwide in the near future. This is expected to boost the demand for wood-based panels. This, in turn, is anticipated to augment the demand for wire and cable plastics, as resins based on wire and cable plastics are employed to produce wood-based panels. Increasing demand for wire and cable plastics in automotive, chemical, and personal care & cosmetics sectors led by their excellent adhesive and binding properties is projected to drive the global wire & cable plastics market during the forecast period
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=65801
๐๐ฎ๐ซ๐ ๐ ๐ข๐ง ๐๐จ๐ง๐๐๐ซ๐ง๐ฌ ๐๐๐จ๐ฎ๐ญ ๐๐ฅ๐๐ฌ๐ญ๐ข๐ ๐๐ข๐ฌ๐ฉ๐จ๐ฌ๐๐ฅ ๐ญ๐จ ๐๐๐ฆ๐ฉ๐๐ซ ๐๐๐ซ๐ค๐๐ญ
Over the last decade, demand for plastic has increased significantly across the globe, owing to its growing usage in sectors such as electrical & electronics (E&E) for insulating wires and cables. Plastic is made of several types of polymers such as polyethylene, polypropylenes, polyesters, PVC, and polyamides (including nylon). Most of these polymers are not biodegradable and hence, they remain as waste in the environment for a long time. This can pose a risk to human health and environment. This factor is likely to hamper the global wire & cable plastics market during the forecast period.
๐๐ข๐๐ฐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/wire-cable-plastics-market.html
๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐๐ฌ ๐๐ข๐ซ๐ & ๐๐๐๐ฅ๐ ๐๐ฅ๐๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ
In terms of volume, Asia Pacific held a leading share of the global wire & cable plastics market in 2018. Demand for energy in Asia Pacific is projected to increase at a rapid pace during the forecast period, with simultaneous increase in energy usage in sectors such as industry and transportation and in newly electrified rural areas in countries of the region. This is likely to boost the market in the region in the near future. The wire & cable industry in Europe is expected witness significant growth in the near future, owing to initiatives such as ‘Digital Agendas for Europe-2025’. Thus, growing use of wires and cables in the IT & telecommunication sector in the region is anticipated to drive the wire & cable plastics market in Europe in the near future.
๐๐ข๐ ๐ก ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐ข๐ซ๐ & ๐๐๐๐ฅ๐ ๐๐ฅ๐๐ฌ๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐จ๐ฐ๐๐ซ & ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง ๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐
In terms of end-use industry, the power & energy segment constituted a key share of the wire & cable plastics market in North America in 2018. The power sector in North America is mature. The building & construction segment of the market in the region is expected to expand rapidly during the forecast period. Rapid increase in construction activities in North America, especially in the residential sector, led by low borrowing costs is estimated to boost the demand for housing units in the region. This factor drives the building & construction segment of the wire & cable plastics market in North America.
๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐ข๐ง ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ค๐๐ญ
Prominent players operating in the global wire & cable plastics market are SABIC, Formosa Plastics, Solvay Group, BASF SE, and Arkema Group. These five companies hold a major share of the global market. In 2019, Siechem Wires and Cables, SE, a leading manufacturer and exporter of marine and shipboard cables in India, announced to have developed underwater cables by using plastic additives produced by BASF. In 2019, Arkema announced its plans to increase its production capacity for high-performance polymer PVDF (polyvinylidene difluoride) at its Changshu plant in China.
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Blog: https://tmrblog.com/
Website: https://www.transparencymarketresearch.com/
This release was published on openPR.