According to a recent market study published by Growth Market Reports titled, “Global Silicone Rubber Cable Market by Types, Applications, and Regions: Size, Share, Trends, and Opportunity Analysis, 2021-2028”, the market was valued at USD 3,843.4 Million in 2020 and is anticipated to expand at a CAGR of 4.6% between 2021 and 2028. In terms of volume, the global silicone rubber cable market is anticipated to expand at a CAGR of 3.4% during the forecast period. The global silicone rubber cable market is anticipated to grow due to the increase in transmission and distribution devices for electricity.
The global silicone rubber cable market is fragmented based on types, applications, and regions. In terms of types, the market is divided into electric cables, submersible pump cables, submarine cable, solar cable, welding cable, borehole cable, and others. On the basis of applications, the market is classified as electrical infrastructure, metallurgy and petrochemical industry, railway, automotive, and others. Based on regions, the global silicone rubber cable market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is bifurcated into the US and Canada. Latin America is segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific is sub-segmented into China, Japan, South Korea, Australia, and Rest of Asia Pacific. The Europe region is categorized as Germany, France, Italy, the UK, Spain, Russia, and Rest of Europe. MEA is divided into Saudi Arabia, South Africa, the UAE, and Rest of MEA.
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Silicone rubber cable has an outstanding thermal range and is suitable for high temperatures up to 200oC. It can withstand low temperatures of up to -90oC. These cables have excellent flexibility and cut-through resistance as compared to most the elastomer. Moreover, the mineral nature of silicone rubber insulation makes the cables uniquely suitable for fire-resistant cable, which is required to maintain circuit integrity during the event of a fire. Silicone rubber cable has good solvent and oil resistance and weathering & ozone resistance. These cables have resistance to UV and have a low specific weight, which is important in shipbuilding and aerospace industries.
As per Growth Market Reports industry analyst Vidya Jadhav, “The global silicone rubber cable market is anticipated to grow at a substantial pace during forecast period, from 2021 to 2028, due to rising urbanization and increasing investments in the industrial sector. The other factors such as growing investment in transmission & distribution of electric power is projected to drive the silicone rubber cable market. Also, the properties of silicone rubber cables to provide high temperature flex, heat resistant, and others are anticipated to create potential demand across industry vertical during forecast period.”
Key Takeaways from the Study
- Top 10 market participants held approximately half share of global silicone rubber cable market in 2019.
- In terms of types, the electric cable segment is expected to account for a substantial share owing to its rising use in power transmission cable of electric equipment, as it can withstand high temperature. Moreover, the use of silicone rubber cable is growing in electric cable, as it has high resistance to elements such as weather, freezing, ozone, aging, radiation, flame, and high temperature.
- Based on applications, the electrical infrastructure segment is expected to register high incremental opportunity in the coming years. Rising industrialization and growing urbanization are expected to boost the demand for silicone rubber cable in the electrical infrastructure segment.
Report Scope
| Report Metric | Details |
| Market Value in 2020 | USD 3,843.4 Million |
| Market Growth Rate (from 2020 to 2027) | 4.6% |
| Historical Data | 2018 & 2019 |
| Base Year | 2020 |
| Forecast Period | 2021 - 2028 |
| Units Considered | Value (USD Million) and Volume (Million Meters) |
| Market Segments | Types and Applications |
| Regional Scope | North America, Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA) |
| Country Scope | The US, Canada, Brazil, Mexico, Rest of Latin America, China, Japan, South Korea, India, Australia, Rest of Asia Pacific, Germany, France, Italy, the UK, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, the UAE, and Rest of MEA. |
| Key Companies Profiled | AnHui TianKang (Group)Shares Co.,Ltd., Far East Smarter Energy Co., Ltd., Fujikura Ltd., Furukawa Electric Co., Ltd., Hitachi Metals, Ltd., LS Cable & System Ltd., Nexans, Prysmian S.p.A, Southwire Company, LLC, and Sumitomo Electric Industries, Ltd. |
| Customization Scope | Report customization available on request |
| Pricing and Purchase Options | Avail tailor-made purchase options to meet your research requirements |
Target Audience
- Supply-side: Silicone rubber cable manufacturers, raw material suppliers, primary respondents, and distributors
- Demand Side: Electrical infrastructure, metallurgy and petrochemical industry, railway, automotive, and others
- Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
- Associations and Industry Bodies: British Approvals Service for Cables (BASEC), Federal Electricity & Water Authority, The International Organization for Standardization (ISO), Occupational Safety and Health Administration (OSHA), STANDARDS AUSTRALIA, Electrical and Mechanical Services Department (EMSD), and others.