Wilmington, Delaware, Feb. 12, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Aluminum Wire Market by Type (Aluminum Wire Rod, Pure Aluminum Wire (Excluding ACSR and AAAC), Aluminum Conductor Steel Reinforced (ACSR), All Aluminum Alloy Conductor (AAAC), and Aluminum Cable Rope): Global Opportunity Analysis and Industry Forecast, 2024-2033”. According to the report, the aluminum wire market was valued at $39.5 billion in 2023, and is estimated to reach $69.1 billion by 2033, growing at a CAGR of 5.8% from 2024 to 2033.
Prime determinants of growth
A surge in demand for aluminum wires from a variety of end-use industries is driving market expansion. In addition, the increased popularity of ethernet will drive the market. However, decrease in free trade and increase in the usage of copper wires in the automobile industry are expected to restrain the market for aluminum wire. However, the increasing demand for aluminum wire from the building and construction industry is expected to create profitable opportunities for the market in the coming years.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $39.5 billion |
| Market Size in 2033 | $69.1 billion |
| CAGR | 5.8% |
| No. of Pages in Report | 771 |
| Segments Covered | Type and Region |
| Region Covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
| Drivers |
|
| Opportunities | Advancements in electrical transmission and distribution |
| Restraint | High conductivity alternatives |
The aluminum wire rod segment is expected to remain the largest type throughout the forecast period
By type, the aluminum wire rod is a versatile material primarily used in the electrical and construction industries. It is produced by the process of rolling and drawing aluminum ingots into thinner wire-like forms. This wire rod is known for its excellent conductivity, lightweight nature, and corrosion resistance that makes it ideal for use in electrical wiring, power transmission, and distribution systems. In construction, aluminum wire rods are employed for reinforcement and in various architectural applications due to their high strength-to-weight ratio and durability.
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Asia-Pacific to maintain its dominance by 2033
The Asia-Pacific region is expected to maintain its dominance in the aluminum wire market. Rapid industrialization and rise in power consumption in the region have raised the demand for ACSR cables, and these factors are anticipated to continue to drive revenue development in the region throughout the projected period. In addition, China is the top consumer and producer of ASCR and aluminum in the world, and this is projected to be a major contributor to the region’s market expansion.
Leading Market Players:
- TT CABLES
- TRIMET ALUMINIUM SE
- NOVAMETAL GROUP
- TOTOKU ELECTRIC CO. LTD.
- HERAEUS ELECTRONICS
- SUMITOMO ELECTRIC
- MWS WIRE INDUSTRIES, INC.
- ARFIN INDIA LIMITED
- KOBE STEEL LTD.
- SOUTHWIRE
The report provides a detailed analysis of these key players in the global aluminum wire market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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