The global fire-resistant cable market will reach $1.76 billion in 2018

According to the latest report from Markets and Markets, the global fire-resistant cable market is expected to grow from $1.
76 billion in 2018 to $2.
06 billion by 2023, growing at a CAGR of 3.
2%
during the period.

The global fire-resistant cable market will reach $1.
76 billion in 2018

The growth of the market is attributed to the growing demand for fire-resistant cables in construction, automotive, and transportation, and other end-use industries and increasing
fire safety regulations by region.

Based on insulation materials, the cross-linked polyethylene segment will lead the fire-resistant cable market
in 2018.
The growth of this segment can be attributed to the easy availability of cross-linked polyethylene, lower average price than other insulating materials, and excellent insulation properties
.

Based on end-use industry, the building construction segment is expected to grow
at the fastest rate during the forecast period.
Infrastructure activities from emerging economies in Asia Pacific, the Middle East and Africa are driving this area
.

Regionally, Asia Pacific will lead the global market
.
Growth in the construction and automotive and transportation industries will be the major drivers for the fire-resistant cables market in the Asia-Pacific region
.
China is the largest consumer of fire-resistant cables in the Asia-Pacific region
.
The continuous development of China's manufacturing industry has also contributed to the growth of
the fire-resistant cable market in the country.
The increasing demand for fire safety and government regulations is another factor
driving the consumption of fire-resistant cables in China.

Key players in the global fire-resistant cable market include Prysmian (Italy), Neckers (France), and Nktor Group (Denmark), among others
.

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