The low smoke halogen free cable market size is projected to reach US$ 5.80 billion by 2031 from US$ 2.68 billion in 2023. The market is expected to register a CAGR of 10.1% in 2023–2031. Potential harms in high-risk locations and additional safety in fire-prone buildings are likely to remain market trends.
Low Smoke Halogen Free Cable Market Analysis
Low Smoke Halogen Free (LSHF) cables have become increasingly important due to their capacity to minimize equipment damage and smoke toxicity in commercial and residential building initiatives. These cables emit minimal levels of smoke and hazardous fumes and do not release acid gases when subjected to fire, setting them apart from PVC cables and those composed of other materials that generate substantial volumes of dense black smoke, harmful fumes, and acid gas.
Low Smoke Halogen Free Cable Market Overview
Low Smoke Halogen Free (LSHF) cables are a type of cable widely used in various applications where the emission of smoke and toxic fumes can pose a risk to human health and essential equipment in the event of a fire. These cables are designed to emit minimal levels of smoke and toxic fumes and do not release acid gases when exposed to fire. Unlike PVC cables and those made of other compounds, which produce substantial amounts of dense black smoke, toxic fumes, and acid gas when subjected to fire, LSHF cables offer enhanced safety features by significantly reducing equipment damage and smoke toxicity in commercial and residential building projects. The use of LSHF cables is particularly beneficial in high-risk locations and fire-prone buildings, where adherence to stringent fire compliances and regulations is essential for ensuring additional safety. The proliferation of data communication, increase in regulatory requirements, and adoption of LSHF cables in industries such as nuclear power plants contribute to the growth of the market.
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Low Smoke Halogen Free Cable Market: Strategic Insights
Market Size Value in US$ 1,898.7 Million in 2019 Market Size Value by US$ 3,945.1 Million by 2027 Growth rate CAGR of 10.1% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Low Smoke Halogen Free Cable Market: Strategic Insights
| Market Size Value in | US$ 1,898.7 Million in 2019 |
| Market Size Value by | US$ 3,945.1 Million by 2027 |
| Growth rate | CAGR of 10.1% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Low Smoke Halogen Free Cable Market Drivers and Opportunities
Possible Harms in High-Risk Locations to Favor the Market
The increased demand for halogen-free cables in high-risk locations is a result of the risks associated with using halogenated cable materials. These materials, which contain elements such as fluorine, chlorine, and bromine, can release toxic and corrosive fumes when exposed to fire, posing significant health risks to individuals and causing damage to electronic equipment and metal structures. Consequently, the imperative to mitigate these potential harms in high-risk locations has driven the need for halogen-free cables, as the use of traditional halogenated cables in such areas could present serious safety and health hazards.
Extra Safety in Fire-Prone Buildings
The increasing need for improved safety measures in buildings and confined spaces prone to fire is fueling the rising demand for halogen-free cables. This demand is shaped by various factors, including the necessity to reduce the dangers associated with fire hazards in contemporary building designs. Modern buildings often incorporate open architecture glazing, false ceilings, and large openings, which can compromise the compartmentation needed for effective fire safety. Moreover, insufficient fire safety provisions, inadequate enforcement of building codes, and a lack of resources for maintaining active fire systems all contribute to inadequate fire safety measures within buildings, significantly elevating the risk to both life and structural integrity. Additionally, the use of traditional halogenated cables in these environments can worsen the potential harm in high-risk locations, underscoring the critical requirement for halogen-free cables to offer additional safety measures in such fire-prone settings. This trend reflects the evolving landscape of building designs and the urgency to address fire safety concerns in modern architectural structures.
Low Smoke Halogen Free Cable Market Report Segmentation Analysis
Key segments that contributed to the derivation of the low smoke halogen free cable market analysis are type, jacket type, insulation material, and application.
- Based on type, the market is bifurcated into screened and non-screened. The screened segment held a substantial market share in 2023.
- By jacket type, the market is bifurcated into thermoplastic and thermoset. The thermoset segment held a significant share of the market in 2023.
- Based on insulation material, the market is divided into polypropylene, polyethylene, thermoplastic polyurethane, and others. The polypropylene segment is expected to hold a significant share of the market in 2023.
- In terms of application, the market is segmented into building & construction, rail cars, ships, aircraft, and others. The building & construction segment is expected to hold a significant share of the market in 2023.
Low Smoke Halogen Free Cable Market Share Analysis by Geography
The geographic scope of the low smoke halogen free cable market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Stringent regulations and standards designed to improve fire safety in commercial and residential properties have significantly impacted the European low smoke halogen free cable market. These regulations, bolstered by ongoing research and development efforts, have played a vital role in driving the adoption of low smoke halogen free cables. The imperative nature of these rules and regulations has emerged as a primary driver for the market, mirroring evolving industry requirements and technological advancements.
Low Smoke Halogen Free Cable Market Report Scope
Low Smoke Halogen Free Cable Market News and Recent Developments
The low smoke halogen free cable market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- ACL Cables creates history as the first local company to receive SLS 1504 -3-31 standard compliance for fire rate cables. Creating history and proving its dominance in the cable industry once again, ACL Cables PLC announced it had been awarded the SLS 1504-3-31 accreditation certification for its Low smoke Halogen Free (LSHF) non-sheathed cables by the Sri Lanka Standards Institution (SLSI) recently.
(Source: Lanka Business News, Newsletter, 2020)
Low Smoke Halogen Free Cable Market Report Coverage and Deliverables
The “Low Smoke Halogen Free Cable Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Jacket Type ; Insulation Material ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The market was estimated to be US$ 2.68 billion in 2023 and is expected to grow at a CAGR of 10.1% during the period 2023 - 2031.
Potential harms in high-risk locations and increases in regulatory requirements are the major factors that propel the market.
Expansion in infrastructure construction is anticipated to play a significant role in the market in the coming years.
The key players holding significant shares in the market are BASF SE, BOREALIS AG, Dow, Fujikura Limited, and Hitachi, Ltd.
The market is expected to reach US$ 5.80 billion by 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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