Wire & Cable Plastics Market Insulates Growth With 5% CAGR to Reach a Valuation of ~US$ 15 Bn by 2027: Transparency Market Research

Wire & Cable Plastics Market Insulates Growth With 5% CAGR to Reach a Valuation of ~US$ 15 Bn by 2027: Transparency Market Research

PR Newswire

ALBANY, New York, March 3, 2020

ALBANY, New York, March 3, 2020 /PRNewswire/ -- The wire and cable plastics market is expected to witness robust growth during 2019-2029 period. The growth will largely come from key sectors of telecommunications, and IT. The telecommunication segment expected to reach a value of US$1.7 bn in the wire and cable plastics market by 2027. The growth in the market is likely remain dominant in Europe region, which accounts for second-largest revenues globally.

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Growing demand from Eastern Europe, mainly Russia is also a major positive for growth in the upcoming future. The Asia Pacific region, notable for its IT sector has witnessed some downfall in recent times, with a slowdown in growth of India, and China. According to TMR analysts, "China is witnessing a slowing demand for fiber optic cables which is expected to drive stiff competition in a fragmented market landscape globally during the forecast period."

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Key Findings in the Wire & Cable Plastics Market Study

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Key Impediments for Wire & Cable Plastics Market Players

Wire & Cable Plastics Market: Region-wise Analysis

Despite looming slowdowns in key economies of Asia Pacific region, the region will remain a highlight for growth during the forecast period. The growing urbanization, rising construction activity, and rising disposable income will ensure growth of the wire & cable plastics market during 2019-2029 period.

Additionally, the wire & cable plastics market will also witness significant growth in Middle East & Africa. Rising initiatives to upgrade existing infrastructure, and growing economic activity in the region will drive major opportunities for growth for players in the wire & cable plastics market. The demand will rise mainly from communications sector, light, and power sectors in the emerging regions.

Wire & cable plastics market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Wire & Cable Plastics Market: Competition landscape

Solvay Group, Formosa Plastics, SABIC, BASF SE, and Arkema Group are some key companies operating in the wire & cable plastics market. The growing emphasis on technical innovations is a key strategy deployed by some key players like Formosa Plastics to drive growth. The emphasis on manufacturing PVC is also a major factor fuelling growth for large players in the wire & cable plastics market. New product launches, mergers, and acquisitions are also key strategies undertaken by major players to increase their market share.

Global Wire & Cable Plastics Market: Segmentation

Wire & Cable Plastics Market, by Material

Wire & Cable Plastics Market, by Voltage

Wire & Cable Plastics Market, by Type

Wire & Cable Plastics Market, by End-use Industry

Wire & Cable Plastics Market, by Region

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