January 11, 2019
WELLESLEY, Mass., Jan. 11, 2019 – With the growing use of polymer optic fiber products, substantial investment in the telecom sector and widespread industrialization across the globe, the global market for wire and cable polymers is quickly advancing, according to BCC Research.
The market was valued at $9.0 billion in 2018 and is expected to reach $11.4 billion by 2023 at a compound annual growth rate (CAGR) of 4.8%, according to the report “Wire and Cable Polymers: Global Markets to 2023.”
“Acquisitions, expansions, new products and technology development were observed to be the key industry developments in the wire and cable polymers market during the last three years,” the report states. “Companies are focusing on forming partnerships with other major organizations, having diverse product portfolios and building a presence in diverse regions to benefit the parent company.”
Opportunities in the Global Wire and Cable Polymers Market
The increasing usage of electric vehicles is a prime market opportunity, as rising oil prices along with decreases in non-renewable sources and population increases have driven the growth of electric vehicles across the globe. Rapid worldwide urbanization is another opportunity in the market as power stations, electricity grids, treatment plants, railways, bridges, telecommunication networks and hospitals are quickly developing.
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Wire and Cable Polymers: Global Markets to 2023( PLS032B )
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