The global wire & cable compounds market size was US$ 12.1 billion in 2021. The global wire & cable compounds market is forecast to grow to US$ 25.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The benefits of wire material, combined with the growing technological advancements, will fuel the growth of the global wire & cable compounds market during the study period.
The rapidly growing construction sector is also contributing to the growth of the global wire & cable compounds market. In addition, rising emphasis on sustainable development and green construction techniques will escalate the growth of the global wire & cable compounds market during the study period.
An increasing range of innovations in the industry will also accelerate the growth of the global wire & cable compounds market. Growing range of projects aiming at infrastructural development will offer ample growth opportunities for the global wire & cable compounds market. For instance, the National Bank for Financing Infrastructure and Development was developed to improve infrastructure in India.

COVID-19 Impact Analysis
Construction activities were temporarily halted due to the wake of the COVID-19 pandemic. The COVID-19 outbreak resulted in a labor shortage and the unavailability of raw materials. Thus, it negatively impacted the global wire & cable compounds market. Moreover, demand from end-users also decreased drastically due to a substantial shift in preferences. Thus, it impeded the growth of the global wire & cable compounds market.

Regional Analysis
North America is forecast to dominate the global wire & cable compounds market, owing to the rising demand for technologically advanced products. Furthermore, the early adoption of smart technology and the increasing number of projects aiming at infrastructure development will also contribute to the growth of the wire & cable compounds market. Growing focus on renewable power plants and windmill-powered plants will bring lucrative growth opportunities for the wire & cable compounds market.
Moreover, the Asia-Pacific wire & cable compounds market is forecast to emerge as one of the largest markets, owing to the growing transportation, households, and newly electrified rural areas in the region. Furthermore, rapid population growth and industrial growth will drive the demand for wire & cable compounds in the coming years. The market may also witness favorable growth opportunities as the Indian government is actively working to close the demand-supply gap.


Competitors in the Market
Avient Corporation
Borouge
DuPont De Nemours, Inc.
Eastman Chemical Company
Electric Cable Compounds Inc.
Evonik Industries Ag
Exxon Mobil Corporation
General Cable Technologies Corporation
Hanwha Solutions Corporation
Melos GmbH
Mitsubishi Chemical Holdings Corporation
Riken Technos Corporation
Siam Cement Group
Solvay S.A.
Trelleborg AB
Other Prominent Players

Market Segmentation
The global wire & cable compounds market segmentation focuses on Type, End-Use, and Region.
By Type
Halogenated Polymers
Non- Halogenated Polymers
By End-Use
Construction
Wind Energy
Power
Communication
Automotive
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America