Aluminum Wire Rod Market to 2021 Industry Size, Share, Revenue Analysis

Aluminum Wire Rod Market to 2021 Industry Size, Share,
Revenue Analysis
Aluminum Wire Rod Market report includes in-depth analysis of industry by
recent technologies, trends, opportunities, challenges, key players and business
strategies considering types, segment and future analysis.
Global Aluminum Wire Rod Consumption Market is expected to rise at a higher CAGR during the forecast period owing
to the strong market position and favorable industrial usage for various objectives. Generally, aluminum is the most
fundamental raw material used in the cable and conductor production in manufacturing plants. Features such as
stringent quality controls and minimal possibilities of vulnerability to external damaging factors are to be ensured
during the production stages of aluminum wire rod. Production of aluminum rod comprises conversion of aluminum
ingots to wire rods via constant casting technique. Thus, the genuine features of aluminum and its alloys encompass
variety of applications such as transport, medicine, construction of homes, furniture and home appliances in the global
aluminum wire rod consumption market.
Characteristically, it is a good thermal & electrical conductor which is a close substitute to copper in various electrical
applications. Plus, it is non-magnetic and possesses high reflectance compared to any other metal. Industries such as
electronics, aerospace and automobiles preferably use aluminum for wiring purposes. Aluminum by nature contains
low weight which is ideal for use in automotive. Automotive manufacturers constantly look for alternative solutions
to minimize weight, using aluminum for such objective is a viable option.
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On a commercial scale, Aluminum Alloys (AA) is usually used to cater to commercial objectives. Globally, the industry
is classified on the basis of a 4-digit number where the first digit displays major alloying element, second indicates
classification of the alloy, the third and fourth digit exhibit specific alloys in the series except for 1xxx indicating
purity of the element. For instance, alloy series such as 1xxx, 6xxx and 8xxx are used for electrical purpose. Hence,
overall with the major classification and specific bifurcations yielding positive market growth enables a higher CAGR
growth during the forecast period.
Global aluminum wire rod consumption market is driven by factors such as rising capacity in utilization level of
conductor manufacturers. Additionally, aluminum possesses several characteristics essential for certain electric
applications. This factor also enables extensive usage of aluminum in electric industries.
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Global aluminum wire rod consumption market is geographically segmented into North America, Latin America,
Europe, Asia-Pacific, Middle-East & Africa. APAC regions are anticipated to grow at a higher CAGR in the forecast period
owing to presence of large and small electric and automotive industries. Regions such as China, Japan, Singapore, India
are expected to grow in the forecast period owing to large consumer base and favorable business opportunities.
North America and European markets are expected to grow at a higher CAGR in the forecast period owing to
development of electric industries and rise in import and export. Middle-East and African regions are expected to
witness a moderate CAGR growth owing to developing industrial and electrical infrastructure which is expected to
propel the national market in these regions.
The key players in the global aluminum wire rod consumption market include General Cable, Alcoa, Norsk Hydro,
RUSAL, Vimetco, Hindalco, Hongfan Holdings, INOTAL, Lamifil, National Aluminum Company (NALCO), NPA Skawina,
Southwire, Oman Aluminum Processing Industries (OAPIL), TRIMET Aluminum, and Vedanta.
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