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Amidst Strong Regional Economic Growth and Shift Towards Renewable Energy, XLPE Insulation and CPE Jacketing Threaten PVC’s Traditional Hegemony
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This research service focuses on power cable non-conducting materials including insulation materials and jacketing materials in the Asia Pacific region. The timeframe covered by the research is 2013 to 2023, the base year being 2016. The market is forecast from 2017 to 2023.
Regions: The regions studied under the scope of this research service include China, Japan, South Korea, India, ASEAN and the rest of Asia-Pacific encompassing South Asia, Southeast Asia, Australia and New Zealand.
Energy demand in the Asia-Pacific region is estimated to double by 2030 and renewable energy sources are likely to play an extremely important part in supporting the demand growth. For instance, India has ambitious plans to install 275 GW of renewable energy by 2027. China, a world leader in wind energy generation, is looking to triple its solar power capacity by 2020. With regional co-operation for power production and trade in the offing, huge opportunity exists for the power cable market. Countries such as China, India and the ASEAN region have invested heavily in unconventional and clean energy. Among the factors influencing the power cable materials market include the robust growth in energy demand from the Asia-Pacific region, a region that is energy-starved with very low per capita consumption compared to Europe and North America. Growing industrialization and strong GDP performance have been paralleled by the surging need and demand for electricity in South Asia and South East Asia. China has surpassed the United States in terms of energy consumption and is witnessing continued growth in its appetite for energy.
Regional Trends: Traditionally, the power cable materials market has been dominated by China. China is the largest producer as well as consumer of insulation and jacketing materials and is home to a number of European and North American material manufacturers as well as cable manufacturers. Japan and South Korea, on the other hand, are mature economies with comparatively slower growth. The market in these countries is driven by replacement cable demand.
Products: Insulation materials have been segmented by products into PVC, XLPE, fluoropolymers, EPR and others.
Jacketing materials have been segmented into various products such as PVC, PE-based materials (include LDPE, HDPE, LLDPE, CPE and so on), TPU and others.
Power Cable Types and Applications: The market has been analyzed by the different power cables such as low voltage (LV), medium voltage (MV), high voltage (HV) and extra high voltage (EHV). Each cable type has been further analyzed with respect to their applications as well as the insulation and jacketing material employed.
Applications analyzed for EHV and HV cables are underground and sub-sea cables. Applications for MV cables are railway and rolling stock, transmission, oil and gas, hydro, thermal and industrial. Applications analyzed for LV cables include residential and commercial buildings, railway and rolling stock, distribution, industrial, oil and gas, hydro, thermal and others.
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