Aluminum Wire Market By Type (All aluminum alloy conductor (AAAC), Aluminum alloy wire, Aluminum Conductor Steel Reinforced (ACSR)), By Insulation Type (XLPE insulation, PVC Insulation, EPR insulation, Others), By End Use Industry (Electronics and Electri

Aluminum Wire Market By Type (All aluminum alloy conductor (AAAC), Aluminum alloy wire, Aluminum Conductor Steel Reinforced (ACSR)), By Insulation Type (XLPE insulation, PVC Insulation, EPR insulation, Others), By End Use Industry (Electronics and Electrical, Aerospace , Automotive, Building and Construction, Packaging, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The aluminum wire market attained $50.7 billion in 2021 and is projected to reach $69.7 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031.

Aluminum wire is a sort of electrical wiring for residential construction or residences that employs aluminum electrical conductors. Aluminum has a superior conductivity-to-mass ratio than copper, hence it is used to wire power grids, such as overhead power transmission lines and local power distribution lines for aircraft power wiring. Utility firms have employed aluminum wire for electrical transmission in power networks from the late 1800s until the early 1900s. Aluminum wire has a cost and weight advantage over copper wires, making it the preferred material for power transmission and distribution applications.

The need for aluminum wires has increased over the past several years as aluminum fasteners have become more prevalent. Many organizations have been striving to develop these alloy wires. The manufacturers have been creating and innovating to enhance conductivity, flexibility, bending ability, as well as mechanical strength, which is something that improves the automobile. The market for aluminum wire has had steady growth over the past few years and is expected to continue growing over the next few years. Aluminum wires are widely used in sectors like aerospace, consumer electronics, and automotive. Aluminum is in greater demand in the automotive sector as it helps lighten vehicles and improves their fuel efficiency.

Additionally, governments support retailers by helping them increase their profit margins, observe steady market growth, and broaden their reach internationally. However, various major and emerging countries are imposing limits on free trade, which is expected to hamper the expansion of the aluminum wires market during the forecast period. Post-Brexit, trade restrictions between the UK and other European nations are likely to increase, while the new trade agreement between the U. S., Canada, and Mexico, imposed by the U.S. government is likely to increase the price of metal components imported from Mexico. According to the official journal of the European Union, the European Union imposed additional taxes on aluminum foil imported from China after the European Commission decided that Chinese producers benefited from disproportionate and unjustified subsidies.

For instance, according to the official journal of the EU, tariffs on a specific thin grade of aluminum converter foil, which went into effect in December 2021, vary from 8.6% to 18.2% and are in addition to the existing anti-dumping taxes of 6% to 28.5%. Because of the expected increase in production costs and tariffs, a decline in global free trade is projected to hamper the expansion of the market. In both residential and non-residential environments, aluminum wires may be used for wiring and connectivity. Human safety is ensured by the fact that aluminum wires are simple to install, preserve the dependability of electrical circuits, and can tolerate high temperatures during fires. A rise in demand for aluminum wires has resulted in an increase in public awareness of the importance of building safety. These wires are used in the power distribution of nearly every commercial and residential structure. The aluminum wires market in the building & construction industry is offered lucrative opportunities as construction activities increase.

The aluminum wire market is segmented into type, insulation type, end-use industry, and region. Depending on the type, the market is divided into all aluminum alloy conductor (AAAC), aluminum alloy wire and aluminum conductor steel reinforced (ACSR). On the basis of insulation type, the market is divided into XLPE insulation, PVC Insulation, EPR insulation and others. On the basis of end-use industry, it is categorized into electronics and electrical, aerospace, automotive, building and construction, packaging and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global aluminum wire market are TRIMET Aluminium SE, Novametal Group, Totoku Electric Co. Ltd., SouthWire, Heraeus Electronics, Sumitomo Electric, TT Cables, Arfin India Limited, MWS Wire Industries, Inc., and Kobe Steel Ltd. Other players operating in the market are Kaiser Aluminium, Vedanta Limited, RUSAL, Sohar Aluminium, and Axon' Cable.

Key findings of the study

On the basis of type, the all-aluminum alloy conductor (AAAC) segment is expected to grow at a CAGR of 3.6%, in terms of revenue, during the forecast period.

On the basis of insulation type, the XLPE insulation segment is expected to grow at a CAGR of 3.6%, in terms of revenue, during the forecast period

Depending on end-use industry, the building and construction segment is expected to grow at a CAGR of 3.8%, in terms of revenue, during the forecast period.

Region-wise, Asia-Pacific garnered the highest share in 2021 in terms of revenue.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aluminum wire market analysis from 2021 to 2031 to identify the prevailing aluminum wire market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the aluminum wire market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global aluminum wire market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

All aluminum alloy conductor (AAAC)
Aluminum alloy wire
Aluminum Conductor Steel Reinforced (ACSR)

By Insulation Type

XLPE insulation
PVC Insulation
EPR insulation
Others

By End Use Industry

Electronics and Electrical
Aerospace 
Automotive
Building and Construction
Packaging
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key 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

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