PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1367722
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1367722
Fairfield Market Research has conducted a new study on the global wire & cable plastics market, providing exclusive insights into its growth prospects from 2021 to 2025. The report offers a comprehensive analysis of market dynamics, competition, and growth forecasts. According to the study, Asia Pacific is poised to emerge as the most attractive regional marketplace for stakeholders in the wire and cable plastics industry. The flourishing residential sector presents numerous opportunities, especially in critical applications such as fire alarm and security systems.
By the end of 2022, the wire & cable plastics market is expected to witness significant transformations. The rapid expansion of the Internet of Things (IoT) and the growing demand for faster 5G connectivity will drive the market. Moreover, the increasing demand for fiber optic networks will provide a steady and reliable stream of revenue for manufacturers of wire and cable plastics, particularly polymers. As the consumer electronics industry is flooded with wireless devices, the demand for advanced plastic wires and cables is also on the rise. Specialized plastic materials such as nylon, polyvinyl chloride, polypropylene, and polyethylene are gaining traction in healthcare, automotive, and building and construction industries.
Fast-developing economies in Asia Pacific, including China, Japan, and India, are experiencing remarkable growth in the building and construction industry. The surge in infrastructural developments and the promising growth outlook for the housing sector will drive the demand for power, energy, electricity, and communication means in the near future. This trend is expected to significantly boost the wire and cable plastics market in the region. While the United States remains a significant market, Europe is also projected to play a crucial role, driven by initiatives such as Digital Agendas for Europe - 2025. Market participants have been eyeing opportunities in high-potential markets such as China, India, Japan, Philippines, Malaysia, Russia, and the United States, with plans for expansion. The IT & telecommunication industry presents significant opportunities, and technological innovations will remain key strategies for plastics manufacturers.
Key players driving competition in the global wire and cable plastics market include: Solvay SA, BASF SE, Daikin America, Inc., Borealis AG, Arkema Group, SCG Chemicals Co. Ltd., SABIC, LyondellBasell Industries Holdings B.V., Songwon Industrial Group, Lucobit AG, Hanwha Europe GmbH, BLS Polymer Ltd., Formosa Plastics, and Finolex Cables. The report provides detailed profiles of these prominent players, including their financial and strategic developments.