ID: MRFR/CnM/5656-CR | January 2019 | Region: Global | 201 pages
The CAGR for the plastic coated steel wires market is 6.28%. This has been the case since 2018 and is expected to continue until 2027. Plastic coated steel wires are sturdy and durable. Because the plastic coating is thick, it can’t be broken easily. It also doesn’t break easily. This is advantageous since it makes this good to use in electronic wiring.
These are flexible wires that are made out of an alloy of different metals. These can be copper, aluminum, carbon, and other combinations of metal. These are great for coating metal wires for PET, PVC, PE, and PA wires. The metal wires are covered with materials that insulate. They also are covered with polymer resin-based jacketing materials.
COVID-19 first appeared on the global stage in the end of the first quarter of last year. At first, this virus was thought to be a nuisance since most people survive it. However, governments soon saw that this was not the case since those who recovered from the virus appeared to have long-lasting effects like damaged lungs, diabetes, and strokes - some of the people who recovered from COVID-19 had these health problems. Also, since the antibodies only lasted for a few months, people who got COVID-19 could get it again after a few months. This was especially true if they had few or no symptoms the first time they got it.
Governments around the world responded by imposing mandatory quarantines and lockdowns. This had disastrous consequences for the plastic-coated steel wires market because it made it harder for manufacturers to find the raw materials needed to make these wires. This drove the total costs of manufacturing these wires up. Manufacturers were forced to pass these higher costs onto the end consumer in the form of much higher prices.
This world is rapidly urbanizing. This is especially true in the Asia-Pacific religion. The rapidly industrializing and urbanizing nations of India and China are largely driving demand in the plastic-coated steel wires market. Since these people are buying more electronics like plasma TVs and smartphones, there is more of a need to use these wires in the electronic wiring that powers them.
Rapid urbanization and industrialization in developing nations are driving growth in the semiconductor industry. This is another major factor that is driving growth in the white plastic coated wires market.
The prices of the raw materials needed to make these plastic-coated steel wires can change rapidly from day to day and throughout the day. This price fluctuation is sometimes reflected in the form of erratic prices for the end consumer. This is one factor that is expected to restrict growth in this market
Another factor that will restrict growth is the fact that it’s easy and relatively inexpensive to produce man-made substitutes that are equally as effective. All things being equal, the manufacturers of electronic devices may eventually graduate towards using these man-made substitutes more often.
The companies that make these plastic-coated steel wires are growing rapidly. This when combined with more intensive investment in research and development on the part of these companies will create tremendous opportunities for everyone in this market. This is even true for the end consumers.
Perhaps the greatest challenge that the companies that make these plastic-coated steel wires face are keeping the costs of manufacturing these products down. Since the price of raw materials for these products can fluctuate widely, it can be hard for these manufacturers to predict and control the costs of these wires.
Cumulative growth analysis
The CAGR for the plastic-coated steel wires market is 6.28%. The market is expected to be worth US $5.5017 million by the end of 2027
Loos & Co is a major American company in the plastic-coated steel wires market. It is growing largely because it is investing heavily in research and development. This has allowed it to create a new generation of products that are innovative, more effective, and have more uses and applications in industry and electronics.
One such product is the coated cable. This has many applications, especially in the manufacture and usage of aircraft or wire rope. These wires will absorb the stress and shock from friction caused by moving parts. This will lessen the extent of abrasion that the wires experience. It will also extend the life expectancy of these cables.
The global plastic coated steel wire market is divided into the following segments:
The global plastic coated steel wire market is divided into the following substrates:
The global plastic coated steel wire market can be used for the following applications:
Plastic coated steel wires have played an integral role in safeguarding the environment. They can also protect people and animals from chemical attacks, and other natural and man-made hazards.
The global plastic coated steel wire market can be divided into the following regions:
Of all of these regions, the Asia-Pacific region had the lion’s share of the market as of 2018. Considering the fact that two nations with large populations - India and China - are urbanizing and industrializing rapidly.
As the middle classes in these regions grow, there is a growing demand for the electronics and consumer durables (refrigerators and washing machines) that people want as they grow richer. Thus, this is driving growth in the global plastic coated steel wire industry. COVID-19 notwithstanding, this trend is expected to continue into the foreseeable future.
The European Union had the second largest market share as of 2018. The entire global plastic coated steel wire market.
The major players in the global plastic coated steel wire market are largely in the West. some of the largest companies in the market are in America. This is to be expected since this region has traditionally had a large and strong middle class with high purchasing power. This may or may not continue in light of COVID-19. In any case, many other companies are entering into the market given the lucrativeness of this market and the many opportunities that modest growth is presenting, especially in developing nations.
It has come up with a wide variety of products that extend far beyond plastic coated steel wires and have a multitude of interesting and useful applications. One of these products is the coated cable. Manufacturers of electronics and other devices that use these wires can choose from a variety of jacket materials, cable materials, and construction, among other things.
The global plastic coated steel wire market is very competitive. This is because there are already many established large companies in this market. Added to this is the fact that there are many more companies that want to enter into this market. They have the money and resources to try to outcompete each other by developing innovative new products with a wide variety of new uses and applications.
Many of these companies are entering into partnerships in the hope of entering into new markets. They are also merging and acquiring new companies. The hope is to solidify their position in existing markets and have an easier time when entering new markets.
List of Companies
Plastic coated steel wires have an expanding number of applications and this is growing by the day thanks to intensive and expensive investment in research and development on the part of companies over the past few decades. This has resulted in a wide variety of innovative new products which are making the masses lives easier and safer worldwide.
One major company in this market is Loos and Co. This is a major American company. It has been in the plastic coated steel wire market for more than sixty years. Thus, it has developed a dramatic and huge learning curve in terms of innovation and research and development in this market.
|Market Size||Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||segment, substrate, application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Wire Works Friedr. Lötters GmbH & Co. KG (Germany), Gavitt Wire & Cable Company, Inc. (U.S.), Von Roll Holding AG (Switzerland), Precision Wires (India), American Spring Wire Corporation (U.S.), Carl Stahl Sava Ind. (U.S.), BetafenceNV (Belgium), KTS Wire Ltd (U.K.), Loos &Co. Inc. (U.S.), Bekaert (Belgium), Haver &Boecker OHG (Germany), -Ing. Meywald GmbH & Co. KG (Germany)|
|Key Market Opportunities||rapidly growing companies of plastic-coated steel wires|
|Key Market Drivers||Rapid urbanization and industrialization in developing nations|
Frequently Asked Questions (FAQ) :
Plastic-coated Wires Market is predicted to grow at Substantial CAGR through forecast period of 2020-2027.
The forecast period for Plastic-coated Wires Market research report is 2020-2027.
Plastic-coated Wires Market is dominated by APAC region.
Rapid urbanization and industrialization in developing nations are driving growth in the semiconductor industry.
Wire Works Friedr. Lötters GmbH & Co. KG (Germany), Gavitt Wire & Cable Company, Inc. (U.S.), Von Roll Holding AG (Switzerland), Precision Wires (India), American Spring Wire Corporation (U.S.), Carl Stahl Sava Ind. (U.S.), BetafenceNV (Belgium), KTS Wire Ltd (U.K.), Loos &Co. Inc. (U.S.), Bekaert (Belgium), Haver &Boecker OHG (Germany), -Ing. Meywald GmbH & Co. KG (Germany)
Global Plastic-coated Wires Market – Summary
The global plastic-coated market is poised to touch the value of USD 5,501.7 Million by 2023. The market bound to surge at a CAGR of 6.28% during the forecast period (2018-2023) due to the unique features offered by the product in various applications across several industries. Plastic-coated wires refer to the wires that are made from materials like copper, carbon, aluminum, as well as other metal alloys. Such materials are insulated using coating materials like PET, PVC, PP, PE, and PA. The strong growth in polymer capacities by prominent companies worldwide is bound to create lucrative opportunities for key industry participants competing in the global plastic-coated wire market. However, fluctuations in the prices and availability of synthetic polymers due to the demand in alternate end-use industries and volatile crude oil prices are expected to restrict market growth during the forecast period.
The market for plastic-coated wires market has gained significant traction in the past couple of years due to the growth of the industrial sector in developing economies in the regions of Asia Pacific and Latin America. These wires are used extensively for powering a number of appliances as well as electrical equipment. Moreover, wire and cables are used for several applications, for instance as power supply, power distribution, machine tools, electrical appliances, industrial purposes, flexible and cord cables for appliances, and vehicles. In addition, the developing semiconductor industry is projected to spur the demand for plastic-coated wires to a large extent in the coming years.
The plastic-coated wires market has been segmented on the basis of coating, substrate, and application.
By the type of coating, the global plastic-coated wires market is segmented into polyvinyl chloride (PVC), polyethylene (PE), polyethylene terephthalate (PET), polyamide (PA), and others. Among these, the polyvinyl chloride (PVC) segment held the largest market share in 2017 and is expected to remain dominant throughout the forecast period. Close on its heels is the polyethylene (PE) segment which was the second-largest market in 2017 and is deemed to surge at the highest CAGR during the review period.
On the basis of substrate, the global plastic-coated wires market is segmented into rounded copper wires, rounded stainless steel wires, rounded carbon wires, and others. Among these, the rounded copper wires segment held the largest market share in 2017 and is exhibited to lead throughout the forecast period. Whereas, the rounded stainless-steel wires market accounted for the second-largest market share in 2017.
Application-based segments in the global plastic-coated wires market include electrical appliances, machine tools & equipment construction, medical instruments, printing & paper, chain & brush, weaving wire, and others. Among these, the electrical appliances segment got the lion’s share with the largest market share in 2017 and is anticipated to lead the market during the forecast period. further, the machine tools and equipment segment captured the second-largest market share in 2017 and is set to be the second-largest market during the forecast period.
Region-wise, the plastic-coated wires market is spread across the key regions of North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East & Africa (MEA).
The APAC plastic-coated wires market is slated to perform phenomenally over the forecast period, thanks to the lucrative opportunities offered by the region to the players in the plastic-coated wires market. Moreover, rising consumer spending and rapid industrialization are few factors pushing the growth of the market in the region.
On the other hand, Europe has accrued massive revenue, acquiring the second-largest market share below Asia Pacific on account of the expanding industry backed by evolving application requirements like Artificial Intelligence (AI) capabilities, long battery life, and biometrics.
Wire Works Friedr. Lötters GmbH & Co. KG (Germany), Gavitt Wire & Cable Company, Inc. (US), Von Roll Holding AG (Switzerland), Precision Wires (India), American Spring Wire Corporation (US), Carl Stahl Sava Ind. (US), BetafenceNV (Belgium), KTS Wire Ltd (UK), Loos &Co. Inc. (US), Bekaert (Belgium), Haver & Boecker OHG (Germany), Dr.-Ing. Meywald GmbH & Co. KG (Germany) are some of the leading companies contributing to the global plastic-coated wires market.
Global Plastic-coated Wires Market: Competitive Landscape
The prominent players in the global plastic-coated wires market are Wire Works Friedr. Lötters GmbH & Co. KG (Germany), Gavitt Wire & Cable Company, Inc. (US), Von Roll Holding AG (Switzerland), Precision Wires (India), American Spring Wire Corporation (US), Carl Stahl Sava Ind. (US), Betafence NV (Belgium), KTS Wire Ltd (UK), Loos & Co. Inc. (US), Bekaert (Belgium), HAVER & BOECKER OHG (Germany), and Dr.-Ing. Meywald GmbH & Co. KG (Germany).
The top players dominating this market include Friedr. Lötters GmbH & Co. KG, Gavitt Wire & Cable Company, Inc., Von Roll Holding AG, Precision Wires, American Spring Wire Corporation, Carl Stahl Sava Ind., Betafence NV, and KTS Wire Ltd. The global plastic-coated wires market is driven due to the rapid development in industrial sector and increasing demand for power generation. Other factor propelling the growth of the market include growing semiconductor industry across the globe owing to their demand in rechargeable batteries, transistors, and diodes. The growth of the automotive as well as electronics industry drives the demand for these semiconductors, which in turn, drives the global plastic-coated wires market.
Wire Works Friedr. Lötters GmbH & Co. KG (Wire Works) produces wires such as loop wire, stapling wire, binding wire, and brush wire in the size range from 0.18 to 4.90 mm. It is also engaged in electrolytic finishing or extrusion coating. The products manufactured by the company cater various industries such as wire processing industry, textiles, printing & paper, and brush industry. The various specifications and surfaces wires provided by the company include blank-drawn, galvanized, tinned, nickel-plated, and with polymer coating. It has its offices in the US and Poland as well as sales representatives in Brazil and Indonesia. It has been ISO 50001 and ISO 9001 certified.
Von Roll Holding AG (Von Roll) manufactures insulation materials, winding wires, resins, varnishes, and composite materials. It operates through two business segments- Von Roll Insulation and Von Roll Composites. The insulation segment offers electrical insulation products, systems, and services for generators, high- and low-voltage motors, and transformers whereas the composites segment produces composite materials and machined parts for a range of industrial equipment. The company has 9 manufacturing units in 11 countries. It is ISO 14001 and 9001 certified and has assets of worth USD 388.99 million as of 2017.
Precision Wires was founded by Atlas Wires Ltd. and Mahendra Mehta & family, which was further merged with Atlas Wires Ltd. in 2001. It is one of the largest manufacturers of winding wires in India and the products portfolio includes round wire, rectangular wire, continuously transposed conductors, and paper insulated copper conductors. It has a presence in 18 countries worldwide with a production capacity of 35,000 MT per annum. The company has 4 manufacturing units across the globe and serves major brands such as BHEL, Bosch, Emerson, Godrej, and SIEMENS.
In October 2017, American Spring Wire Corporation partnered with Joh. Pengg AG, a leading supplier of spring wire products globally, and formed a new entity which is named as ASW.Pengg LLC. This growth activity is likely to strengthen the company’s product portfolio of spring wires and expand business presence.
Betafence NV manufactures and distributes fencing solutions such as security fencing, panel fences, fences on rolls, posts, swing and sliding gates, turnstiles, barriers, perimeter intruder detection products, electric security fences, gabions, trapions, bastions, weld mesh mattresses, rock nettings, and sound blocks, as well as mobile and temporary fences and gates for commercials and residential buildings. It provides various wire mesh fence materials for security, decoration, and structural purposes. The products offered by the company are used in industrial, residential, agricultural, and infrastructural building applications. It is a part of the Praesidiad group of companies which is owned by the Carlyle Group. It has 8 manufacturing sites in 8 countries, which are Belgium, UK, Germany, Italy, Poland, South Africa, Turkey, and US. It has 30 sales offices in around 100 countries across the globe.
In June 2018, Betafence announced the acquisition of the remaining 40% stake in Betafence Yapı Sanayi ve Ticaret A.Ş. in Turkey to tap the untapped market in Turkey and neighboring countries.
Bekaert is a technology leader in steel wire transformation and coating technologies. It operates through three major business segments namely rubber reinforcement, steel wire, and steel and synthetic ropes & advanced cords. The company has a global presence with operations in around 120 countries. The products offered by the company cater needs for various industries such as automotive, construction, energy and utility, agriculture, consumer goods, and equipment industries.