[FURL=https://www.industryarc.com/Report/19570/wires-and-cables-polymer-compound-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Wires & Cables Polymer Compounds Market[/FURL] size is forecast to reach $14 billion by 2026, after growing at a CAGR of 8.1% during the forecast period 2021-2026. Wire and cable polymers are widely used in core applications such as power transmission and the telecom sector. Wire and cable protect from mechanical and chemical damages during installation. Various polymer compounds such as thermoplastic polyurethane solution-based formulations are used for creating durable industrial wirings and cables. Apart from this, polyvinyl chloride (PVC) and ethylene-vinyl acetate (EVA) are low voltage copper conductors, which are used in solar energy. Polyvinyl chloride has high tensile strength and superior conductivity; therefore, these are used in wiring applications.Key Takeaways
Asia Pacific dominates the wires and cables polymer compound market due to increasing demand from construction and rising population with the high energy demand is expected to propel the market growth.
Increasing demand for high voltage direct current (HVDC) power system for current transmission over long distance and investment in advanced electricity network offers growth for the wires and cables polymer compound market.
Methyl acrylates is used as low voltage cables in construction and automotive because it is flame retardant compounds, which boost the growth of wires & cables (W&C) polymer compound industry.
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Wires & Cables Polymer Compounds Market Segment Analysis – By Geography
Asia Pacific dominated the wires & cables (W&C) polymer compound market in 2020 with 30%, followed by North America. Asian countries are significantly increasing investment in expanding their solar energy network. According to the United States Agency for International Development, Asia Pacific power generation will more than double to 17% by 2030. According to the India Brand Equity Foundation (IBEF), India is expected to invest worth US$ 500 billion in the renewable energy sector by 2028. North America holds the second-largest market share at the global level due to increasing renewable energy generation.
Wires & Cables (W&C) Polymer Compound Market Drivers
Increasing Demand from Building & Construction
Increasing Investment in Power Transmission Sector
Wires & Cables Polymer Compounds Market Market Landscape
Major players in the Wires & Cables (W&C) Polymer Compound Market are 3M, BASF SE, Daikin Industries Ltd., DowDuPont Inc., Eastman Chemical Co., ExxonMobil, Lubrizol Corp., Akrema Group, Polyone Corp., Trelleborg Co., and among others.
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