At 4.9% CAGR, Middle East & Africa Wire and Cable Plastics Market is Projected to be Worth US$ 1,428.58 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa Wire and Cable Plastics Market was valued at US$ 971.44 million in 2023 and is expected to reach US$ 1,428.58 million by 2031, registering a CAGR of 4.9% from 2023 to 2031. Rising demand from energy & power industry and growing building and construction industry are among the critical factors attributed to drive the Middle East & Africa wire and cable plastics market.

The energy & power industry is witnessing a substantial surge in demand for wire and cable plastics, driven by the global shift toward advanced energy infrastructure, renewable energy integration, and the modernization of aging power systems. Plastics, including polyethylene (PE), polyvinyl chloride (PVC), and cross-linked polyethylene (XLPE), are integral materials in the insulation, sheathing, and protection of wires and cables. These plastics offer unique properties, such as flexibility, electrical resistance, durability, and cost-effectiveness, making them indispensable in meeting the growing demands of the industry. With the rising utilization of renewable energy sources such as solar, wind, and hydropower, the need for robust and reliable cabling solutions is escalating. These energy systems often operate in challenging environments, exposing cables to extreme temperatures, UV radiation, and moisture. The increasing focus on electrification in remote and underserved areas, particularly in developing countries, also propels this demand. Long-distance power transmission lines and off-grid renewable energy systems require durable and lightweight cables, where plastics play a critical role in reducing installation complexity and enhancing efficiency. In April 2024, the World Bank Group and the African Development Bank Group announced the partnership for an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030. 

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

Based on material, the Middle East & Africa wire and cable plastics market is segmented into polyethylene, polyvinyl chloride, polypropylene, cross-linked polyethylene, thermoplastic elastomers, and others. The polyvinyl chloride segment held 33.3% market share in 2023, amassing US$ 323.13 million. It is projected to garner US$ 447.40 million by 2031 to register 4.2% CAGR during 2023–2031.

In terms of voltage, the Middle East & Africa wire and cable plastics market is segmented into low, medium, high, and extra-high. The low segment held 44.5% share of Middle East & Africa wire and cable plastics market in 2023, amassing US$ 432.03 million. It is anticipated to garner US$ 652.04 million by 2031 to expand at 5.3% CAGR during 2023–2031.

By end-use industry, the Middle East & Africa 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 32.2% share of Middle East & Africa wire and cable plastics market in 2023, amassing US$ 313.26 million. It is projected to garner US$ 445.68 million by 2031 to expand at 4.5% CAGR from 2023 to 2031.

Based on country, the Middle East & Africa wire and cable plastics market is categorized into the South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 38.9% share of Middle East & Africa wire and cable plastics market in 2023. It was assessed at US$ 377.93 million in 2023 and is likely to hit US$ 528.34 million by 2031, registering a CAGR of 4.3% 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, among others.

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