The cable and wire industry market is supposed to grow with slow pace because the demand of raw material in automotive, telecommunication, and construction has grossly increased. But, prices for metals, copper and steel would remain under the market influencers. It is said that the fluctuation in raw material rates poses serious threat to the production cost of cable and wire and experts hold the opinion that the growth in construction and telecommunication sector will help the manufacturers to augment the prices.
The market of wire and cable is not only broad but also diverse. It is said that biggest end users of this raw material are telecommunication and power supplying companies. IBIS World claims that “The demand and supply of mechanical wires is slightly lower and most of the companies spend more on innovation.” The price competition is very sheer in the markets and the numbers of local and foreign producers have increased to largest extent. Hence, rates of copper, rubber, aluminum, and various plastics, thermoplastic, thermosete, and steel will fluctuate.
Furthermore, IBIS reports that the products of cable (axial cable, halogen-free cable, multi-core cable, and coaxial cable) are speedily growing and they have passed by the evolution process. Actually, mechanical cables are generally used by oil, mining and construction companies and they are produced from the high carbons, nonferrous metals and stainless steel.
Last but not the least, the IBIS firm has said that the fluctuation in rates will not be changed as the number of producers are speedily growing but the good news is that demand and supply of power generation companies have massively augmented and this is a positive omen for the cable markets.