In 2018, the global market for low smoke halogen-free cables was valued at approximately US$ 2.49 billion and is projected to expand at a compound annual growth rate (CAGR) of 10.7% from 2019 to 2027, reaching an estimated US$ 6.44 billion by the end of the forecast period.
The recent growth in the low smoke halogen-free cable sector can be attributed to the increasing enforcement of fire safety regulations and the adoption of fire-resistant materials, particularly in structures that are at risk of fire incidents. The North American region is noted for holding the largest share of the low smoke halogen-free cable market.
In both developed and developing nations, strict fire safety regulations have been established for the construction of new buildings to protect the safety of inhabitants. Countries such as the United States, Australia, Canada, Mexico, the United Kingdom, Germany, Spain, Italy, and India have implemented rigorous fire safety laws. Additionally, these nations impose severe penalties for violations of these codes. The National Fire Protection Association (NFPA) codes and standards influence nearly every aspect of building, process, service, design, and installation, reflecting the evolving needs of the industry and advancements in technology, supported by ongoing research and practical experience. The diverse regulatory landscape across various regions has collectively propelled the growth of the low smoke halogen-free cable market.
In North America, it is essential for manufacturers across various sectors to comply with the International Electrotechnical Commission Explosive (IECEx) Certification or the ATEX Directive. Electrical equipment intended for use in hazardous environments must be certified by a Nationally Recognized Testing Laboratory (NRTL) in both North America and Canada. The stringent regulations in this region have positioned the low smoke halogen-free cable market as a leader on the global stage. Similar regulatory frameworks have been established in other countries worldwide, further enhancing the growth of the low smoke halogen-free cable market.
Safety regulations aimed at protecting workers positively influence the installation of electrical components, including cables. In China, obtaining CNEx certification is necessary for accessing hazardous location (HazLoc) products within the country. In Taiwan, the Safety Label for Ex equipment mandates compliance with national standards (CNS) and requires official registration by the Ministry of Labor. Currently, it is a legal requirement for all Ex equipment to secure a Safety Label before being imported, sold, distributed, installed, or operated in Taiwan. The European Union (EU) has established the Construction Product Regulation (CPR), which aims to regulate the limits of hazardous substances in construction materials. This regulation applies to all products intended for permanent installation in construction, including telecommunication, power, and control cables. Compliance with CPR has become mandatory for all installed cables, driving the global adoption of low smoke halogen-free cables.
The overall market size for low smoke halogen-free cables has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the low smoke halogen-free cable market. This research also provides an overview and forecast for the global market based on segmentation across five key regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Additionally, primary interviews with industry stakeholders and experts were conducted to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the low smoke halogen-free cable market. Notable companies operating in this market include BASF SE, Borealis AG, DowDuPont Inc., Fujikura Ltd., Hitachi Ltd., Nexans SA, Prysmian Group, Mexichem Specialty Compounds, Shanghai Kaibo Compounds Factory Co., Ltd., and Sumitomo Electric Lightwave Corp., among others.