Wednesday, 11 March 2015

Automotive Wire and Cable Materials Market Asia-Pacific to Retain Lead Through 2019

The global automotive wire and cable materials market is directly proportionate to the growth of the automobile industry. According to a recent report published by Transparency Market Research (TMR), the thriving automotive sector is one of the major forces influencing the wire and cable materials market. The report, titled “Automotive Wire and Cable Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, is available for sale on the company’s website.
The 89-page research study discusses the emergence and development of the automotive wire and cable materials market, providing a comprehensive overview of the global scenario. Segmenting the overall market on the basis of products, the report also cross-examines the product segments with respect to four key geographical regions: North America, Europe, Asia-Pacific, and Rest of the World. Automotive wire and cable materials include polyphenylene ether (PPE), cross linked polyethylene (XPLE), thermoplastic polyurethane (TPU), polyvinyl chloride (PVC), and others.
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Regionally, Asia-Pacific dominates the automotive wire and cable materials market in terms of consumption. The automotive industry has been flourishing in this region owing to rising demand for commercial and personal vehicles and growing purchasing power. The gross domestic product (GDP) in emerging economies such as Malaysia, India, China, and Indonesia has increased considerably, thereby fueling the automotive as well as automotive wire and cable materials market. Moreover, many leading market players are based in the Asia-Pacific region and this has helped cater to the ever-increasing demand from the automotive industry.
In terms of consumption, North America is the second-largest market for automotive wire and cable materials, followed by Europe. The U.S. economy has been on the path of revival, which has supported the demand for automobiles. A majority of the leading automobile manufacturers are based in Europe, which offers a certain degree of advantage for the market. Nevertheless, the demand for these vehicles more often than not stems from other geographies such as Asia, thereby distributing the consumption of automotive wire and cable materials and sharply reducing the automotive demand from within Europe.
A factor that challenges the growth of the market is environmental concerns associated with the recycling and disposal of automotive wire and cables. However, factors such as rising in-vehicle wiring applications, favorable government initiatives to promote hybrid and electric cars, and introduction of bio-based plasticizers are expected to propel automotive wire and cable materials in the coming years.
The research report studies the competitive landscape of the global automotive wire and cable materials market and profiles the leading players who have contributed to the growth of the industry. According to the report, the five most dominating players of the automotive wire and cable materials enjoy more than 60% of the global industry share, which makes the overall market immensely consolidated.
The companies mentioned in the automotive wire and cable materials market report are Coficab Tunisie SA, Sumitomo Electric Industries Ltd, Allied Wire & Cable, Judd Wire, Inc., ITC Thermo Cable GmbH, Delphi Automotive PLC, Coroplast Fritz Müller GmbH & Co. KG, Draka Holding N.V., Yazaki Corporation, Leoni AG, and Lear Corporation. For each of the companies, the report studies attributes such as financial and company overview, recent developments, business strategies, product portfolio, and SWOT analysis.
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