Global market for fire resistant cables materials was worth USD 509.3 millions in 2019. It is expected to grow at a compound annual rate (CAGR of 4.4%) between 2020 and 2027. The forecast period will see a rise in demand for fire resistant cables materials due to the growing demand for insulating electrical channels to combat extreme heat and fire mishaps within buildings and manufacturing units. The stringent European and North American green building codes are positively impacting the use of fire-resistant and sustainable building materials. This is expected to increase the demand for fire resistant cables materials. The market is expected to grow because of the increasing use of electric wires in modern residential and commercial buildings, as well as office spaces.
Due to the rise in fire-resistant building constructions, the U.S. will see a significant increase in demand for fire resistant cable materials. The market will be supported by the abundant supply of raw materials, well-established commercial channels, and prominent manufacturers.
The demand for sustainable building materials has increased due to the growing construction industry, especially in commercial and office buildings. Modern commercial buildings and office spaces must have fire-resistant electric systems in order to prevent fires. This will also have a positive impact on market growth.
An increasing number of manufacturing plants in major regions such as Europe, North America and Asia Pacific is focusing on safety at work. To avoid fire mishaps, the main concern of the players is to install an electric supply channel that is safe and secure. This will support product demand.
Advanced wire jacketing techniques have led to the development of cables that are more resistant to heat and fire. The players are also focusing on innovation in raw materials and compounding them to increase their durability and resistance. Another factor that increases the penetration of cables materials for fire resistant wires is their compatibility with high voltage wires.
Cross-linked Polyethylene, (XLPE), was the most dominant segment in the market with 41.2% in 2019. It is expected to experience the greatest growth between 2020 and 2027. These materials are expected to be more popular for making fire resistant cables in the future due to their superior insulation qualities and electric conductor characteristics.
XLPE's ability to withstand harsh weather conditions has made it more popular in the manufacture of cables for long-distance electric transmissions. Cross-linked polyethylene cables offer lightweight characteristics and superior insulation. These materials are rapidly gaining popularity in the market.
As they emit very little smoke and are not halogenated when exposed to heat and fire, Low Smoke Zero Halogens jacketing materials (LSZH), for fire-resistant cables, will continue to grow in popularity. In the future, the material's cost-effectiveness and flammability will likely drive up its demand.
Polyester Chloride (PVC), jacketing materials made up a significant share of the market in 2019. This is due to their widespread commercial availability and well-known characteristics. Its market penetration is facilitated by its flexibility, low cost, wear resistance and heat resistance of up to 105 degrees.
The market was led by the construction and building industry with a 35.5% share in 2019. It is expected to experience the highest growth between 2020 and 2027. This industry was the biggest consumer of fire-resistant material for cable jacketing applications. The demand for these products will rise due to growing concerns about fire resistance properties of buildings and the need to find sustainable materials to address mishaps in construction projects.
High insulation is required for electric wires in automobiles and transport vehicles. This is because of the extreme heat environment. The demand for cables capable of supplying electricity is expected to rise with the increasing popularity of electric cars around the world. This will support the need for jacketed cable.
In the future, North America, Europe and Asia Pacific will see a rise in manufacturing facilities due to their growing manufacturing industries. Due to the coronavirus epidemic in China, production plants are being moved to India, Vietnam, South Korea, and South Korea. New facilities will be built in these countries. With a new production setup, the demand for cable jacketing materials will increase.
In response to growing consumer demand, electricity generation plants around the world are increasing their capacity. A reliable and secure transmission channel is essential for electricity to be sent from the generator plant to consumers. This is positively impacting the demand for fire-resistant cables materials.
Asia Pacific was the largest region market, with a 31.6% share in 2019. It is expected to continue its lead during the forecast period. Due to the increasing need for fire safety in residential and commercial buildings, Australia, Japan, South Korea and China are the top consumers of fire-resistant cable. This region is expected to see an increase in automotive production and the prominent manufacturing of electrical machinery, equipment.
China was the country with the highest overall consumption of fire-resistant cable materials. This is due to the large demand from construction and building applications. The country's well-established electrical and electronics industry, as well as a growing number of production bases, will likely increase the demand for these products during the forecast period.
Due to the increase in production of electric cars, the automotive industry in Europe is expected to rise the demand for fire-resistant cables jacketing materials. The market growth is also expected to be boosted by the construction and building industries in France, Italy and Germany over the forecast period.
The fastest CAGR in Middle East and Africa will be 5.1% between 2020-2027. The strong growth in Middle East and African construction will result in new office and commercial spaces throughout the region. This will allow for the use of fire-resistant materials in construction projects. There are several projects underway in Saudi Arabia and UAE that could provide opportunities for growth.
The industry's most prominent players are focused on the development of materials that can withstand extreme heat and flames for longer periods. To expand their geographic reach and improve their product offerings, key industry players are involved in strategic activities such as mergers & acquisitions, joint ventures and third-party manufacturing. To remain competitive, the players invest in R&D to improve the material. The following are some of the major players in the global market for fire resistant cable materials:
Universal Cable (M) Berhad
Tratos Limited
General Cable Corporation
Prysmian Group
LS Cable & System Ltd.
Up Market Research published a new report titled “Fire Resistant Cable Materials Market research report which is segmented by End Use (Automotive & Transportation, Building & Construction), by Material (PVC, LSZH, XLPE, EPR), By Players/Companies Universal Cable (M) Berhad, LS Cable & System Ltd, Prysmian Group, General Cable Corporation, Tratos Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Fire Resistant Cable Materials Market Research Report |
By End Use | Automotive & Transportation, Building & Construction |
By Material | PVC, LSZH, XLPE, EPR |
By Companies | Universal Cable (M) Berhad, LS Cable & System Ltd, Prysmian Group, General Cable Corporation, Tratos Limited |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 204 |
Number of Tables & Figures | 143 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Automotive & Transportation, Building & Construction), by Material (PVC, LSZH, XLPE, EPR).
Fire Resistant Cable Materials Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Fire Resistant Cable Materials Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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