According to a new report, published by KBV research, The Global Flame Retardant Cable Market size is expected to reach $2.67 billion by 2031, rising at a market growth of 3.8% CAGR during the forecast period.
In addition to safety and environmental benefits, flame retardant cables offer significant economic advantages. The financial losses associated with fire incidents are reduced by these cables, which prevent the spread of fire as well as minimize damage to property and apparatus. Moreover, their durability and reliability translate into lower maintenance costs and longer lifespans, making them a cost-effective choice for new installations and retrofitting projects.
The PVC segment is experiencing a CAGR of 3.1 % during the forecast period. PVC (Polyvinyl Chloride) continues to dominate, owing to its affordability, ease of manufacturing, and adaptability to diverse requirements. Its cost-effective production process enables large-scale usage, making it a go-to choice for manufacturers and end-users alike. The material’s versatility allows it to cater to numeorus applications, from residential wiring and industrial cables to consumer electronics and automotive wiring harnesses.
The Low Voltage segment led the maximum revenue in the Global Flame Retardant Cable Market by Voltage Range in 2023, thereby, achieving a market value of $1.4 billion by 2031. Its extensive use in residential, commercial, and light industrial applications drives the low-voltage segment. These cables are essential for powering household appliances, lighting systems, and small-scale electrical networks, making them a staple in urban infrastructure projects.
The Building & Construction segment is growing at a CAGR of 3.1 % during the forecast period. The rising emphasis on fire safety in residential, commercial, and industrial buildings fuels the building and construction segment. The demand for flame retardant cables is being driven by urbanization and large-scale infrastructure projects, which are designed to ensure that they comply with safety standards and safeguard property and lives.
Full Report: https://www.kbvresearch.com/flame-retardant-cable-market/
The North America region dominated the Global Flame Retardant Cable Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $948.7 Million by 2031. The Asia Pacific region is anticipated to grow at a CAGR of 4.2% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 3.6% during (2024 - 2031).
By Insulation Material
By Voltage Range
By Application
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