Middle East & Africa Wire and Cable Plastics Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Middle East & Africa Wire and Cable Plastics Market size is expected to reach US$ 1,428.58 million by 2031 from US$ 971.44 million in 2023. The market is estimated to record a CAGR of 4.9% from 2023 to 2031.

Executive Summary and Middle East & Africa Wire and Cable Plastics Market Analysis:

The Middle East & Africa wire and cable plastics market is evolving owing to the increasing passenger vehicle production. Moreover, rising middle-class income and a growing population are driving the market. The growing automotive sales in South Africa and Saudi Arabia create a significant demand for wire and cable plastics. In September 2022, Renault Group Morocco announced that its two factories in Tangier and Casablanca, Morocco, produced 350,000 vehicles in 2022, a 15.3% increase over the production numbers in 2021. Moreover, the region is increasingly recognizing the importance of EVs in reducing greenhouse gas emissions, enhancing energy security, and promoting sustainable transportation solutions. As a result, there has been a surge in investment in EV infrastructure and manufacturing across the region, driving significant demand for wire and cable plastics. In 2023, Saudi Arabia's Public Investment Fund (PIF) partnered with the Saudi Electricity Company (SEC) to develop an EV infrastructure company. The company aims to establish its presence in more than 1,000 locations and install 5,000 chargers across the country by 2030. Countries in the Middle East & Africa, especially in the Gulf Cooperation Council (GCC), are investing heavily in diversifying their economies, with automotive manufacturing being a promising industry for economic growth. As automotive production expands, particularly with an emphasis on advanced and electric vehicles, the demand for high-performance wire and cable plastics is also rising. 

Middle East & Africa Wire and Cable Plastics Market Strategic Insights

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Middle East & Africa Wire and Cable Plastics Market Segmentation Analysis

Key segments that contributed to the derivation of the wire and cable plastics market analysis are material, voltage, and end-use industry.

• By material, the wire and cable plastics market is segmented into polyethylene, polyvinyl chloride, polypropylene, cross-linked polyethylene, thermoplastic elastomers, and others. The polyvinyl chloride segment held the largest share of the market in 2023.
• In terms of voltage, the market is segmented into low, medium, high, and extra-high. The low segment held the largest share of the market in 2023.
• By end-use industry, the wire and cable plastics market is segmented into construction, automotive, electrical & electronics, aerospace & defense, telecommunications, oil & gas, energy & power, and others. The construction segment held the largest share of the market in 2023.

Middle East & Africa Wire and Cable Plastics Market Outlook

The increasing focus on recycling and bio-based materials is expected to emerge as a pivotal trend in the wire and cable plastics market in the coming years, reflecting a shift toward sustainability and environmental responsibility. With growing awareness of the ecological impact of traditional plastic waste and stringent regulations aimed at reducing carbon footprints, manufacturers are exploring innovative ways to produce environmentally friendly wire and cable plastics. This trend is driven by the need to meet regulatory compliance, address consumer preferences for sustainable products, and align with global efforts to transition to a circular economy. In January 2023, Borealis announced its capability to use its proprietary Borcycle C chemical recycling process to recycle cross-linked polyethylene (PE) types such as XLPE and PE-X into recycled polyethylene. The recycled PE obtained in the pyrolysis process can replace virgin PE in manufacturing XLPE and PE-X for use in the wire & cable and infrastructure industries, respectively. In addition, in September 2024, Dow announced the launch of a range of REVOLOOP Recycled Plastics Resins that incorporate post-consumer recycled (PCR) material into cable jacketing to help address customers' varying needs and circularity goals across the globe. The development of advanced recycling technologies allows manufacturers to recover and repurpose plastic materials from end-of-life cables, reducing their dependency on virgin petrochemical-based plastics. Recycled plastics lower raw material costs and minimize the environmental impact of production, making them an attractive option for manufacturers as well as end users.

Middle East & Africa Wire and Cable Plastics Market Country Insights

Based on country, the Middle East & Africa wire and cable plastics market comprises South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held the largest share in 2023.

Egypt, Nigeria, Oman, Qatar, Kuwait, Iran, Turkey, and Kenya are the major countries in the Rest of Middle East & Africa wire and cable plastics market. The demand for wire and cable plastics in the Rest of Middle East & Africa is experiencing significant growth owing to the expansion of industries reliant on these effective insulation materials for wires and cables. The emergence of the Internet of Things, artificial intelligence, and 5G networks is driving the demand for high-performance electronic devices in the Rest of Middle East & Africa. In October 2023, Egyptian Startup Pearl Semiconductor raised US$ 4.5 million from prominent participants such as Sawary Ventures, Qatar's QBN Capital, and a group of angel investors contributing to the financing round. In addition, governments of several countries in the region are investing in infrastructure development and promoting initiatives to diversify economies, including the expansion of the electronics manufacturing sector. The increasing penetration of smartphones, laptops, and other consumer electronic devices is also driving the wire and cable plastics market in the region.

Middle East & Africa Wire and Cable Plastics Market Report Highlights

Middle East & Africa Wire and Cable Plastics Market Company Profiles

Some of the key players operating in the market include Dow Inc, Exxon Mobil Corp, LyondellBasell Industries NV, Solvay SA, Borealis AG, BASF SE, Saudi Basic Industries Corp, LG Chem Ltd, Arkema SA, and Celanese Corp among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Middle East & Africa Wire and Cable Plastics Market  Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

Business Market Insight’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Middle East & Africa Wire and Cable Plastics Market Country and Regional Insights