Global wire and cable plastics market growing at CAGR of 5.6% to reach $17.88 billion by 2031.
From GlobeNewswire: 2025-03-19 07:12:00
The global wire and cable plastics market is booming due to increased demand from the energy & power sector. A new report analyzes market trends, key players, and future opportunities, projecting a CAGR of 5.6% to reach $17.88 billion by 2031. Plastics like polyethylene and PVC are essential for insulation and protection in various industries, including construction, automotive, and telecommunications.
The energy & power industry is driving demand for wire and cable plastics, with a focus on renewable energy integration and modernizing power systems. Plastics like PE and PVC offer flexibility, durability, and cost-effectiveness for cables in challenging environments. Telecommunication infrastructure expansion, especially with 5G technology, also boosts the need for quality cabling solutions using materials like PE, PVC, and PP.
In 2024, the Asia Pacific region led the wire and cable plastics market, with Europe and North America following closely. APAC is expected to maintain the highest CAGR during the forecast period. Market segmentation includes materials like polyethylene and PVC, voltage levels from low to extra-high, and end-use industries such as construction, automotive, and energy & power.
Key players in the wire and cable plastics market include Dow Inc, Exxon Mobil, and BASF, focusing on trends like energy storage, electronics, and sustainable solutions. Recent launches include BASF’s Elastollan® 1400 with hydrolysis resistance, Dow’s REVOLOOP Recycled Plastics Resins for sustainability goals, and Borealis AG’s Renewables range for eco-friendly options. The industry is showcasing innovation at events like the 2022 WIRE trade show in Germany.
The wire and cable plastics market is set for steady growth, driven by energy & power and construction sectors. Advancements in electrical systems, smart technologies, and government initiatives supporting infrastructure development contribute to rising demand. Stakeholders can leverage insights from The Insight Partners’ report to navigate evolving market dynamics and unlock new opportunities in the industry.
Read more at GlobeNewswire: Wire and Cable Plastics Market Size to Reach US$ 17.88