The fire resistance cable market is those cables designed for functioning and maintaining continuous operations in fire conditions. Fire safety regulations of different countries create a push for the usage of fire resistance cables for various end-use industries. Rapid growth in industrialization and urbanization, increasing awareness regarding fire safety accidents, and regulatory standards of fire safety across regions are fueling the global fire resistance cable market.
Fire resistance cable is also known by other names, such as fire-survival cable, fire-performance cable, or fire-resistance cable. These cables have a higher resistance to burning, a higher temperature, more flexibility, less toxicity, and smoke, and produce less acid gas. Furthermore, such cables must be built of high-quality materials to be acceptable for uses with greater mechanical load signals and to be effective enough to safeguard the power supply during or after a fire incident.
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The construction and building application sector continues to lead the global fire-resistance cable market, owing to global industrialization and urbanization. Most users prefer high-quality cables and wiring to avoid future repair costs. Furthermore, several advantages of fire-resistance cable, such as its non-corrosive nature, superior mechanical and electrical capabilities, and highly flame-retardant features, are linked to the growth of the global fire-resistance cable market. The price of raw materials and the amount of energy required to make fire-resistance cables are continually changing. The value chain, which comprises procurement and operating expenses, is directly affected by the fluctuating prices of these components.
The global fire resistance cable market analysis has been done on the basis of insulation material, end-use industry, and region. By insulation material, the fire-resistant cable market is divided into ethylene propylene rubber-insulated (EPR), low smoke zero halogens (LSZH), Polyvinyl Chloride (PVC), Cross Linked Poly Ethylene (XLPE), and others. The cross-linked polyethylene (XLPE) segment accounted for the substantial market share of fire resistance cable in terms of value and is estimated to lead the overall market in the coming years. This could be due to increased demand from developing countries such as China and India. In addition, in the future years, low smoke zero halogens (LSZH) is expected to expand at the fastest rate.
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By end-use industry, building & construction is projected to be the fastest-growing segment in the fire-resistance cable market. Increasing awareness about the safety of buildings among the masses has led to an increase in demand for fire-resistance cables. These cables find applications in the distribution of power in almost every commercial and residential building. Increasing construction activities are driving the fire-resistance cable market in the building & construction industry.
By region, the Asia-Pacific region was one of the most prominent regions in the market. India, China, and ASEAN nations, which are seeing significant expansion in end-use sectors, are likely to drive demand for fire-resistance cables in the Asia-Pacific region. The increasing population and growing urbanization are expected to drive industrial expansion in the region.
The major companies profiled in this fire resistance cable industry report include EL Sewedy Electric Company, Furukawa Electric Co., Ltd., Leoni AG, LS Cable & System Limited, Nexans S.A., NKT Group, Prysmian Group, Relemac Technologies Pvt. Ltd, TPC Wire & Cable Corp., and Tratos Limited.
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Key findings of the study
- By region, Asia-Pacific is projected to grow at the highest CAGR of nearly 3.8%, in terms of revenue, during the fire resistance cable market forecast period.
- By insulation material, the cross-linked polyethylene segment accounted for the largest fire-resistance cable market share in 2020.
- By end-use industry, the building & construction segment garnered the largest market share in 2020.
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