New York, February, 2023: Axiom Market Research & Consulting™ added a report on the global aluminium wire rod market which includes studies on size, process, end-user across various countries of key regions across the globe. The global aluminium wire rod market is projected to grow at a CAGR of 2.42% for the forecast period 2023 to 2029. The global aluminium wire rod market is estimated and forecasted in terms of revenue (USD Million) generated by the aluminium wire rod market.
The factors such as the growing demand for aluminium wire rods in electrical and mechanical applications and the rising demand for deoxidised aluminium wire rods. Also, the high demand from conductor and cable manufacturers across the globe is projected to lead the global aluminum wire rod market during the forecast period. Further, increasing demand from industries such as construction, automotive, marine, power generation, and electronics is likely to drive the market.
The report analyses the global aluminium wire rod industry based on size, process, end-user, and geography. The aluminium wire rod by size is segmented into small, medium, and long. By grade, aluminium wire rod market segmented into, EC Grade, Alloy Grade. The aluminium wire rod market by process is segmented into cables and conductors, mechanical and deoxidization. The end-users of the aluminium wire rod market are, mechanical, power industry, wire and cable, automotive, aerospace. The global aluminium wire rod market is studied across various key countries in regions, such as, North America, Europe, Asia Pacific and the Rest of the World.
These wire rods are used in conductors for overhead lines, flexible cables for robotics, welding and railway engineering, cables using nickel-plated wire for aeronautical engineering, enameled wire for windings, etc. These wire rods are lightweight, easy to use, with high electrical conductivity, corrosion resistance, lending themselves well to surface treatments.
It is very useful in applications like construction, automotive and transportation, and electrical appliances among others due to its productivity, efficiency, and quality.
Continuous rotary extrusion lines are fed with aluminium or aluminium alloy wire rod to extrude solid and hollow products. Extruded sections, tubes or multivoid tubes are often processed in end applications such as household appliances, industrial cooling systems and coolers used in the automotive sector.
The rods are used as raw material for making aluminium cables and overhead conductors that yield excellent mechanical and electrical cable properties.
The growth of the segment can be attributed to the expansion of telecom sector in the region. In the year 2021, the telecom services market is forecasted to increase again, growing by around one percent compared to 2020. An increasing number of mobile subscribers, soaring demand for high-speed data connectivity, and the growing demand for value-added managed services are the other potential factors fuelling the segment growth.
Asia Pacific aluminium wire rod market is growing significantly as developed infrastructure, economic development helping to boost the market in the region. Further Increasing support from the government for advanced infrastructural setup and growing investment in the construction sector Fuel the aluminium wire rod market growth in Asia Pacific.
The key players in the global aluminium wire rod market are Boryszew SA Oddzial Nowoczesne Produkty Aluminiowe Skawina, Hindalco Industries Ltd, INOTAL Aluminiumfeldolgozo Zartkoruen Mukodo Reszvenytarsasag, Lamifil NV, National Aluminium Co. Ltd., Norsk Hydro ASA, Prysmian Spa, SURAL, United Company Rusal IPJSC, Vimetco NV, GUTMANN ALUMINIUM DRAHT GMBH, Esal Rod Alloys, S.A, Elcowire Group AB, and among others.
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