Wires and cables have become one of the most indispensable parts in today’s advanced and digitized era. Today, wires and cables find extensive applications across all industries, such that, the wires and cables industry has a promising outlook. In such a digital world, where electricity has emerged as one of the most heavily used means of energy, internet and telephones are daily necessities for billions of people, institutions and offices, there is an absolute need for uninterrupted high-quality service.
Cable wrapping tapes fulfill that requirement, providing high-quality uninterrupted supply of electricity and cable protection for lucrative and emerging markets, for products, such as fiber optics, and extra high-voltage cables. The global cable wrapping tapes market has a largely positive future outlook, which can be attributed to extensive usage in almost all industries and markets. There is hardly any factor which can cause the global cable wrapping tapes market to significantly alter its course. Cable wrapping tapes have been successfully used in data transmission, underwater cables, and energy projects. Manufacturers of cable wrapping tapes are expected to focus on sales in emerging economies, where internet and cable still have relatively low penetration.
Global cable wrapping tapes market Key players:
Digitization has led to a revolution in the modern world. The advent of modern technology has led to consumers demanding better quality and faster services. Numerous variations in types of cables has paved way for increasing demand for customization in the variety of cable wrapping tapes. Today, cable wrapping tapes are available for all cable wire variations as per energy requirements. One of the key drivers expected to fuel the global cable wrapping tapes market is the increasing adoption of internet and cable connection in emerging economies as well as developing countries.
Despite the positive outlook, there are certain factors, which might hamper the global cable wrapping tapes market. Cable wrapping tapes are largely used in networking applications such as internet services, and telecommunication. Technological progress in developing countries may be a key driver for the market, however, technological progress in developed countries is expected to hamper growth. Developed countries have a mature consumer base that is always keen on trying new technologies.
As a result, any new technological advancement is very quick to catch on with the consumers. The advent of wireless networking technology, satellite communication and the likes are expected to hamper growth of the global cable wrapping market, over the forecast period. As wireless technology becomes mainstream across the world, the cable wrapping tapes are anticipated to lose market share. However, such a situation is unlikely to arise during the forecast period.
Globally, the cable wrapping tapes market is expected to rise, over the forecast period. However, developed regions, such as North America, Western Europe, Eastern Europe, Japan, MEA and parts of APEJ might see a relatively lower growth rate, as compared to developing countries, due to high saturation, and adoption of new wireless technologies, which is expected to gather steam, over the next decade.
Key players operating in the global cable wrapping tapes market are – Scapa Group Plc, The 3M Company, HellermannTyton Corporation, and Jinyang Technology Co., Ltd. Etc.
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