Investors Eye Bio-based Plasticizers as Global Automotive Wire and Cable Materials Market Sets Greener Targets
The global automotive wire and cable materials market is an integral part of the automotive industry. Therefore, any factors that influence the overall production and sales rates of automobiles will be responsible for the growth of the global automotive wire and cable materials market as well. The details of this market are provided by leading market intelligence agency, Transparency Market Research. The company has compiled a holistic snapshot of this market within a research report titled “Automotive Wire and Cable Materials Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
According to the report, the global automotive wire and cable materials market is currently being driven by the booming automotive industry. The demand for passenger cars and other automobiles is high, resulting in an increased demand for automotive wire and cable materials. Reasons for the strides in the automotive industry include the upswing of the U.S. and European economies, coupled with the rapid rate of industrialization and urbanization in Asia Pacific countries.
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The global automotive wire and cable materials market is also benefitting massively from the recent advancements in technology, which have allowed market players to access new materials that are cheaper, greener, and more durable than their predecessors.
A prime example of this is the incoming wave of manufacturers who prefer the use of bio-based plasticizers to manufacture PVC. Bio-based PVC can be up to 40% less toxic than the conventionally manufactured PVC that makes use of phthalates.
One of the major restrictions to the growth of the global automotive wire and cable materials market is actually the cause behind the growing use of bio-based materials. The high rate of pollution created by the manufacturing as well as disposal of older products is a major concern for many countries that are trying to reduce their carbon emissions. Therefore, government regulations are a key factor that players need to watch out for.
The report segments the global automotive wire and cable materials market on the basis of the products manufactured. These include PPE, TPU, XLPE, PVC, and other materials used in lower percentages.
The competitive landscape of the global automotive wire and cable materials market, as stated in the report, is a highly consolidated one. The top five companies currently hold over 60% of the market collectively, while the rest of the market is taken up by numerous regional players. Top automotive companies usually prefer these leading players due to a greater level of trust gained over the years. But there is always an eye out for innovation by new players at the same time.
The key players in the global automotive wire and cable materials market are explained in absolute detail with respect to each company’s overview, recent developments, and product portfolios. The company profile analysis additionally includes a financial overview and key business strategies employed by the companies. Finally, the report makes use of a SWOT analysis to provide a complete assessment of the competitive landscape of the global automotive wire and cable materials market. The list of key players includes Lear Corporation, Leoni AG, Yazaki Corporation, Draka Holding N.V., Coroplast Fritz Müller GmbH & Co. KG, Delphi Automotive PLC, ITC Thermo Cable GmbH, Judd Wire, Inc., Allied Wire & Cable, Sumitomo Electric Industries Ltd, and Coficab Tunisie SA.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.