The global fireproof cable market will reach $2.3 billion by 2025
According to the latest data released by the international market research institute Markets and Markets, the global fireproof cable market will reach US$2.3 billion by 2025, with a compound annual growth rate of 3.3%.
The fire protection cables mentioned in the report are those that are suitable for working in a fire under specified conditions for a specific period of time. They are used to protect the main circuit systems in large buildings for a certain period of time in the event of a fire.
With the increasing demand for fire-resistant cables in various industries and the increasingly stringent fire safety regulations in various countries, the demand for the market is growing. At the same time, fluctuations in raw material prices are the main constraints to the development of the market.
Based on insulating materials, cross-linked polyethylene (XLPE) occupies a considerable market share during the forecast period, and the average cost advantage and excellent insulation performance are the main reasons for its occupation.
Geographically, the Asia Pacific region has the largest market share due to the growth of the construction, automotive and transportation industries. China is the largest fire-fighting consumer in the Asia-Pacific region. China's growing manufacturing industry has also driven the growth of the country's fire protection cable market. The increased demand for fire safety and government regulations is another factor driving China's fire cable consumption.
From the company's point of view, Prysmian (including universal cable), Nexans, Anket, LS cable, Lenny cable, etc. will become the world's leading manufacturer of fireproof cables.