The global flame retardant cable market is experiencinggrowth due to several factors such as the surge in safety andsecurity regulation in developing countries, and rapid urbanizationand infrastructure development.
WILMINGTON, Del., July 31, 2024 /PRNewswire/ -- Allied MarketResearch published a report, titled, "Flame RetardantCable Market by Insulation Material (EPR, LSZH, PVC, andXLPE), Voltage Range (Low Voltage, Medium Voltage and HighVoltage), End-use Industry (Automotive and Transportation, Buildingand Construction, Energy, and Manufacturing): Global OpportunityAnalysis and Industry Forecast, 2024-2032". According to thereport, the flame retardant cable market was valued at $2.1 billion in 2023 and is estimated to reach$2.9 billion by 2032, growing at aCAGR of 3.5% from 2024 to 2032.
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- 64-Charts
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Prime determinants of growth
The global flame retardant cable market is experiencing growthdue to a surge in safety and security regulations in emergingeconomies paired with the rise in awareness of fire safety.However, the high initial cost associated with flame retardantcable serves as a significant restraint factor for market growth tosome extent. Moreover, the emergence of the Internet of Thingsdevices presents significant growth opportunities for the expansionof the global flame retardant cable market.
Report coverage & details:
ReportCoverage | Details |
ForecastPeriod | 2024–2032 |
Base Year | 2023 |
Market Size in2023 | $2.1 billion |
Market Size in2032 | $2.9billion |
CAGR | 3.5% |
No. of Pages inReport | 300 |
SegmentsCovered | InsulationMaterial, Voltage Range, End-Use Industry, andRegion. |
Drivers |
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Opportunities |
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Restraint |
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Segment Highlights
In the insulation material segment, due to its superiorattributes, XLPE insulation is the dominant and fastest-growingmaterial in flame-retardant cables. In contrast with commonmaterials such as PVC, this material has strong thermal resistancewhich prevents it from decomposition at high temperatures. Thelatter is crucial for fire scenarios because the cable must notlose its integrity. Moreover, XLPE demonstrates superior electricalinsulating qualities as well as substantial moisture, chemical, andabrasive resistance making it suitable for harsh industrial andinfrastructure applications. Consequently, the safety, performance,and durability of cable installations are increasingly driving theacceptance of XLPE as an insulating material of choice.
In the voltage type segment, the dominance of the low voltagesegment in the flame-retardant cable market arises from itsextensive use in residential, commercial, and industrial settings.These cables play a crucial role in building wiring, powerdistribution, and equipment connections. The growing need forelectricity in buildings, along with stringent safety regulationsrequiring flame-retardant cables, is driving the segment's growth.Additionally, advancements in low-voltage cable technology, likeenhanced insulation and conductor materials, are enhancingefficiency and reliability, leading to increasedadoption.
In end-use industry, the building and construction segment holdsa dominant position in the flame-retardant cable market due to thesubstantial electrical infrastructure required in modern buildings.Fire safety regulations necessitate the use of flame-retardantcables to prevent fire spread, making them essential inconstruction projects. On the other hand, the energy and powersector is predicted to witness rapid growth because of risinginvestments in power networks. With the growing importance ofrenewable energy sources like solar and wind power, the demand forflame-retardant cables in such projects is also on the rise toensure grid stability and safety.
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Regional Outlook
The utilization of flame-retardant cables is on the rise in theAsia-Pacific region, primarilydriven by swift industrial growth, urban expansion, andinfrastructure advancement. With prominent countries such asChina and India heavily investing in construction, powerproduction, and manufacturing sectors, there has been a surge inthe demand for fire-resistant cables. Moreover, the strict firesafety protocols in the area have further propelled the acceptanceof these cables. The increasing recognition of fire risks and theheightened emphasis on safety precautions in both residential andcommercial structures are also fueling the expansion of theflame-retardant cable market in Asia-Pacific.
Players: -
- Prysmian Group
- Nexans S.A.
- NKT Group
- Leone AG
- LS Cable & System Limited
- Jiangnan Group Limited
- Tratos Limited
- EL Sewedy Electric Company
- Sumitomo Electric Industries Ltd.
- Yazaki Corporation
- Renesas Electronics
The report provides a detailed analysis of these key players inthe global flame retardant cable market. These players have adopteddifferent strategies such as new product launches, collaborations,expansion, joint ventures, agreements, and others to increase theirmarket share and maintain dominant shares in different regions. Thereport is valuable in highlighting business performance, operatingsegments, product portfolio, and strategic moves of market playersto showcase the competitive scenario.
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Recent Development:
- On May 12, 2023- Prysmian Groupannounced a strategic partnership withØrsted, a global leaderin offshore wind development, to supply state-of-the-art flameretardant cables for the Hornsea 3 offshore wind farm project inthe UK. These specialized cables are designed to withstand harshmarine environments, ensuring the safe and efficient transmissionof power from the wind turbines to the onshore grid.
- On August 28, 2023- Nexanslaunched the innovative GREENFLAM range of halogen-free flameretardant cables, setting new industry benchmarks for fire safetyand environmental performance. GREENFLAM cables produce minimalsmoke and toxic fumes during fires, safeguarding occupants andfacilitating faster evacuation from buildings and infrastructureprojects. They also contribute to a more sustainable constructionlandscape by eliminating harmful halogenated compounds.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the marketsegments, current trends, estimations, and dynamics of the flameretardant cable market analysis from 2024 to 2032 to identify theprevailing flame retardant cable market opportunities.
- The market research is offered along with information relatedto key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyersand suppliers to enable stakeholders make profit-oriented businessdecisions and strengthen their supplier-buyer network.
- In-depth analysis of the flame retardant cable marketsegmentation assists to determine the prevailing marketopportunities.
- Major countries in each region are mapped according to theirrevenue contribution to the global market.
- Market player positioning facilitates benchmarking and providesa clear understanding of the present position of the marketplayers.
- The report includes the analysis of the regional as well asglobal flame retardant cable market trends, key players, marketsegments, application areas, and market growth strategies.
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Flame Retardant Cable Market Key Segments:
By Insulation Material
- EPR
- LSZH
- PVC
- XLPE
By Voltage Range
- Low Voltage
- Medium Voltage
- High Voltage
By End Use Industry
- Automotive and Transportation
- Building and Contruction
- Energy
- Manufacturing
By Region
- North America (U.S.,Canada, Mexico)
- Europe (France, Germany, Italy, UK, Rest of Europe)
- Asia-Pacific (China, Japan,India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America,Middle East, Africa)
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