According to the report, the global wire & cable jacket materials market was estimated at $4.6 billion in 2021, and is expected to hit $8.3 billion by 2031, registering a CAGR of 6.27% from 2022 to 2031.
A wire is a single electrical conductor, whereas a group of wires bundled in an assembly is called a cable. The cable jacket is the outside of the cabling that protects the wires from elements, abrasion, and other workplace hazards. But not all jackets are created equal and they all have attributes that make them suitable for different areas or tasks. Different materials are used for cable jacketing, such as thermoplastic and thermosetting materials. In the report, different thermoplastic materials with high temperatures, such as above 200°C are considered. Increase in investment in transmission and distribution of electric power and growth in demand from data centers and the telecom industry are expected to drive the wire & cable jacket material market growth during the forecast period.
Determinants of growth-
High demand for wire & cable materials due to advancements in material science and introduction of new types of wires in accord with applications across various industrial domains drive the growth of the global wire & cable jacket materials market. At the same time, developments in R&D activities has created an array of opportunities for the key players in the industry.
By material type, the perfluoroalkoxy segment held the major share in 2021, garnering nearly one-third of the global wire & cable jacket materials market. This is owing to the fact that PFA provides strong chemical resistance, in addition to excellent temperature ratings. The polymide segment, on the other hand, is projected to cite the fastest CAGR of 6.89% throughout the forecast period.
Asia-Pacific held the major share in 2021-
By region, Asia-Pacific dominated in 2021, garnering more than one-third of the global wire & cable jacket materials market. The same region is also expected to cite the fastest CAGR of 6.61% throughout the forecast period. This is because the subsea industry is growing rapidly across the province.
Key players in the industry-
Calmont Wire & Cable Inc.
DuPont
Fluorocarbon Group
Galaxy Wire & Cable, Inc.
Evonik Industries AG
Habia Cable
Arkema S.A.
Groupe PolyAlto
OFS Fitel, LLC
3M
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