According to the latest report from Markets and Markets, the global market for fire-resistant cables is expected to grow from $1.76 billion in 2018 to $2.06 billion in 2023, with a compound annual growth rate of 3.2 percent.
The growth in the market is due to the growing demand for fire-resistant cables in construction, automobile, and transportation, as well as other end-use industries, as well as the increasing requirements of fire safety regulations in various regions.
Based on insulation materials, the cross-linked polyethylene plate will lead the market for fire-resistant cables in 2018.
The growth of this sector can be attributed to the easy availability of cross-linked polyethylene, lower average prices than other insulation materials, and excellent insulation performance.
Construction is expected to grow at the fastest rate during the forecast period, according to end-use industries.
Infrastructure activities from emerging economies in Asia-pacific, the Middle East, and Africa are driving this field.
From a regional perspective, the Asia-pacific region will lead the global market.
The growth of the construction and automotive and transportation industries will be a major driver of the fire-resistant cable market in the Asia-pacific region.
China is the largest consumer of fire-resistant cables in the Asia-pacific region.
China's growing manufacturing sector has also boosted the country's market for fire-resistant cables.
Increased demand for fire safety and government regulations is another factor driving the consumption of fire-resistant cables in China.
Major players in the global market for fire-resistant cables include ZMS Cable (China), Nexen (France), and Ankatech (Denmark).
Fire-resistant cables are cables that can still maintain certain electrical properties and mechanical strength under high temperatures and fire conditions for a certain period of time.
Fire-resistant cables usually use special insulation and sheath materials, as well as special structural design, so that it has fire, smoke, poison, and other properties.
These cables are usually used in places that require a high degree of safety, such as high-rise buildings, subways, tunnels, power plants, petrochemical, and other places.
Although fire-resistant cables and flame-retardant cables serve some of the same purposes, they are two completely different types of cables in terms of construction and other uses.
Flame retardant cables are cables that, in the event of a fire, are able to stop the spread of flames and limit the emission of smoke and toxic gases, thereby protecting the safety of personnel and the integrity of the equipment.
These cables are made of flame-retardant materials, which can effectively minimize the hazards of fire, but their fire resistance is usually not as good as that of fire-resistant cables.
Flame retardant cables are usually used in indoor building electrical wiring, such as in residential and commercial buildings.
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