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In a recent published report, Kenneth Research has updated the market report for Fire Resistant Cable Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fire Resistant Cable Market products.
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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
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Global Fire Resistant Cable Industry was valued at USD 1.77 Billion in the year 2018. Global Fire Resistant Cable Industry is further estimated to grow at a CAGR of 3.06% from 2018 to reach USD 2.18 Billion by the year 2025. Asia-Pacific region holds the highest Industry share in 2018 and also considered as fastest growing Industry in the forecasted period. At a country level, developed markets like China, Japan and India hold the substantial Industry share in 2018 and it is projected to grow at a gradual rate in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Segmentation done on the basis of Material includes Ethylene Propylene Rubber-Insulated (EPR), Cross-Linked Poly Ethylene (XLPE), Low Smoke Zero Halogen (LSZH) and Polyvinyl Chloride (PVC), of which the Cross-Linked Poly Ethylene (XLPE) Straps segment is expected to hold the highest Industry share during the forecast period. On the other hand, segmentation done on the basis of End-use include Manufacturing, Energy, Building & Construction, Automotive & Transportation, of which Building & Construction segment is expected to grow at the highest CAGR during the forecast period.
Major market players in Fire Resistant Cable Industry are Nexans S.A., General Cable Corporation, Prysmian Group, EL Sewedy Electric Company, Universal Cable (M) Berhad,
EL Sewedy Electric Company, Universal Cable (M) Berhad, NKT Group, Leoni AG, LS Cable & System Ltd., Tratos Limited, Jiangnan Group Limited, and other 8 more companies detail information is provided in the report.
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SWOT analysis of Fire Resistant Cable Industry
Strength:
Rising demand for Fire Resistant Cables
Weakness:
Raw Material prices are fluctuating
Opportunities:
Power Generation is ring across the globe
Threats:
Threats from substitute
Fire Resistant Cable Industry Segmentation
Fire Resistant Cable Industry Overview, By Material
*Ethylene Propylene Rubber-Insulated (EPR)
*Cross-Linked Poly Ethylene (XLPE)
*Low Smoke Zero Halogen (LSZH)
*Polyvinyl Chloride (PVC)
*Others
Fire Resistant Cable Industry Overview, By End-use
*Manufacturing
*Energy
*Building & Construction
*Automotive & Transportation
*Others
Fire Resistant Cable Industry Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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