Renewable Energy or Green Energy is the number one megatrend ahead for the global Wire & Cable industry. The change is underway and it will continue to increase demand and cable volumes for the coming decades.
Renewable Energy or Green Energy is the number one megatrend ahead for the global Wire & Cable industry. Renewables are expected to provide approximately 30% of all electricity in 2024. The world capacity for renewable energies will more than double in the next 10-year period and grow by a factor of four in the next 30 years. It is a change that will drive the increasing demand of cable volumes.
As a key technology provider to the industry, we strongly support this industry change and are providing new innovations to make it happen in a most sustainable way. For us, sustainability is driven by several deliverables.
Global use of materials is accelerating. It has more than tripled since 1970. Moreover, only 9% of the global economy is circular. Just 9% of the 92.8 billion tons of material that enters the economy is re-used annually. Modern manufacturing techniques enable the manufacturing of sustainable Wire & Cable and Pipe & Tube products. So, how can we transform regular goods into green products? There are two ways to do it. One is to focus on the cable materials, and the other is to focus on the manufacturing process of the cables.
Sustainable materials that are used for manufacturing are usually climate-friendly materials. They are biodegradable and modern materials, such as halogen-free jacketing. They are not made up of ingredients labeled as hazardous by authorities towards the environment.