Wire and cable sheathing material market
Allied Market Research has published a report titled: “Wire and Cable Jacket Material Market by Temperature Classification (200°C to 250°C, 250°C to 300°C, 300°C above), by Material Type (Polyetheretherke Tone, Polyimide, Polytetrafluoroethylene, Perfluoroalkoxy, Other), by End Use (Aerospace and Defense, Submarine, Artificial Lift System, Power Generation, other): global Opportunity Analysis and Sector Forecast, 2021-2031.” According to the report, the global wire and cable sheathing materials industry is valued at USD 4.6 billion in 2021 and is expected to reach USD 8.3 billion by 2031, with a CAGR of 6.27% between 2022 and 2031.
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Determinants of growth
High demand for wire and cable materials due to advancements in materials science and introduction of new types of wires in accordance with applications in various industrial domains are driving the growth of the global wire and cable sheathing materials market. At the same time, developments in R&D activities have created a range of opportunities for the industry’s key players.
The perfluoroalkoxy segment will retain the lion’s share
By material type, the perfluoroalkoxy segment held the largest share in 2021, accounting for almost a third of the global wire and cable sheathing materials market. This is due to the fact that PFA offers strong chemical resistance, in addition to excellent temperature resistance. The polymide segment, on the other hand, is expected to record the fastest CAGR of 6.89% during the forecast period.
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The aerospace and defense segment will dominate by 2030
In terms of end-use, the aerospace and defense segment contributed the lion’s share in 2021 and held almost a third of the global wire and cable sheathing materials market. Aircraft for military applications require robust cable assemblies to form a highly reliable network backbone. These jacket materials can be specially designed to protect all signal transmissions from external thermal, chemical, mechanical and environmental factors. These factors drive segment growth. However, the artificial lift systems segment is expected to exhibit the fastest CAGR of 6.96% from 2022 to 2031. This is attributed to the fact that artificial lift systems are mainly used in the oil and gas industry, which requires wire and cable jacket material to perform at high levels in harsh environments.
Asia Pacific had the largest share in 2021-
By region, Asia Pacific dominated in 2021, accounting for more than a third of the global wire and cable sheathing materials market. The same region is also expected to record the fastest CAGR of 6.61% during the forecast period. This is because the submarine industry is growing rapidly across the province.
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Major players in the industry-
Calmont Wire & Cable Inc.
DuPont
Fluorocarbon group
Galaxy Wire & Cable, Inc.
Evonik Industries AG
Habia cable
Arkema SA
Groupe PolyAlto
OFS Fitel, LLC
3M
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