At 6.1% CAGR, Europe Wire and Cable Plastics Market is Projected to be Worth US$ 3,512.75 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe wire and cable plastics market was valued at US$ 2,191.33 million in 2023 and is expected to reach US$ 3,512.75 million by 2031, registering a CAGR of 6.1% from 2023 to 2031. Robust telecommunication infrastructure expansion and increasing focus on recycling & bio-based materials are among the critical factors attributed to drive the Europe wire and cable plastics market.

The global telecommunications industry is expanding, which is driven by technological advancements and increasing internet penetration, leading to an increased need for robust and reliable cabling infrastructure. This demand directly impacts the consumption of plastics used in manufacturing telecommunication cables, including optical fiber cables, coaxial cables, and ethernet cables—which rely on materials such as PE, PVC, and PP for insulating, jacketing, and durability. With 5G technology requiring high-capacity fiber optics cables for seamless data transmission, the telecommunication industry demands superior quality that offers enhanced protection against environmental factors such as moisture, heat, and UV radiation. According to the GSM Association, 5G networks are likely to cover one-third (1.2 billion) of the world's population by 2025. In addition, there is a widespread rollout of 5G networks across the globe, which has led to an increased demand for smartphones and other consumer electronics. According to Viavi Solutions Inc.'s report, in April 2023, over 92 countries across the globe launched 5G networks. Further, 23 countries have pre-commercial 5G network trials underway, and 32 nations have announced their 5G rollout plans. The widespread rollout of 5G networks has led to an increased demand for smartphones and other consumer electronics products. The plastics ensure the longevity and reliability of cables in outdoor and underground installations, boosting their adoption. Additionally, the increasing deployment of fiber-to-the-home (FTTH) and fiber-to-the-premises (FTTP) networks further boosts the need for plastic-coated wires and cables. Further, data transmission has become crucial in modern communication networks, particularly with the rollout of 5G and the increasing use of fiber-optic cables. These cables demand durable plastic coatings to ensure signal integrity, minimize data loss, and protect against environmental factors such as moisture, heat, and mechanical stress. 

On the flip side, fluctuations in raw material prices and harmful environmental impact of plastic use hamper the growth of Europe wire and cable plastics market.

Based on material, the Europe wire and cable plastics market is segmented into polyethylene, polyvinyl chloride, polypropylene, cross-linked polyethylene, thermoplastic elastomers, and others. The polyvinyl chloride segment held 34.0% market share in 2023, amassing US$ 744.21 million. It is projected to garner US$ 1,119.69 million by 2031 to register 5.2% CAGR during 2023–2031.

In terms of voltage, the Europe wire and cable plastics market is segmented into low, medium, high, and extra-high. The low segment held 43.3% share of Europe wire and cable plastics market in 2023, amassing US$ 919.80 million. It is anticipated to garner US$ 1,557.80 million by 2031 to expand at 6.4% CAGR during 2023–2031.

By end-use industry, the Europe wire and cable plastics market is categorized into construction, automotive, electrical & electronics, aerospace & defense, telecommunications, oil & gas, energy & power, and others. The construction segment held 33.6% share of Europe wire and cable plastics market in 2023, amassing US$ 736.20 million. It is projected to garner US$ 1,141.82 million by 2031 to expand at 5.6% CAGR from 2023 to 2031.

Based on country, the Europe wire and cable plastics market is categorized into the Germany, France, Italy, the UK, Spain, and the rest of Europe. Our regional analysis states that the Rest of Europe captured 26.3% share of Europe wire and cable plastics market in 2023. It was assessed at US$ 576.51 million in 2023 and is likely to hit US$ 856.30 million by 2031, registering a CAGR of 5.1% during 2023–2031.

Key players operating in wire and cable plastics market are Dow Inc, Exxon Mobil Corp, LyondellBasell Industries NV, Solvay SA, Borealis AG, BASF SE, Saudi Basic Industries Corp, LG Chem Ltd, Arkema SA, and Celanese Corp.

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