Positive. Wire & Cable Compounds Market to reach $32.50 billion by 2032 with significant growth.

From GlobeNewswire: 2024-12-04 07:51:00

The Wire & Cable Compounds Market was valued at USD 14.84 billion in 2023, with a projected growth to reach USD 32.50 billion by 2032, showing a CAGR of 9.32% over the forecast period. Major players like Dow Inc. and BASF have introduced new product series to meet advanced requirements for applications and sustainability. The market trend is shifting towards eco-friendly and sustainable materials with improved performance characteristics like thermal stability and resistance to chemicals and UV radiation. DuPont announced a split into three independent companies for greater growth potential, while TEGO Guard 9000 won the Ringier Technology Innovation Award. In 2023, North America dominated the market with a 50% share, driven by the highly developed industrial base and growth in the communication and renewable energy sectors. PVC remains a leading material in the wire and cable compounds market, with CPE playing a supporting role as a modifier for PVC. The market is witnessing significant growth due to the increasing rate of electric vehicle adoption and telecommunications infrastructure development.



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