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Global Aluminium Alloy Wire Market Insight2022-01-06 Comments
The Aluminium Alloy Wire is forecast to steady growth over the next four years. According to the World Knowledge Information (WKI) “Global Aluminium Alloy Wire Professional Survey Report 2021, Forecast to 2026”, With growing demand for diversified and innovative product grades for electrical and automotive applications,the Aluminium Alloy Wire industry is developing at an incredible speed. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 3.35% base on WKI regression analysis model.
“The lightening of Aluminium Alloy Wire will be one of the focuses of future development, and industry participants should pay attention to adapt to the rapid development of the industry.“said Jimmy Joy, Senior analyst, Chemicals & Materials Market Research Center in WKI.
Aluminium Alloy Wire is composed of aluminum. Compared to copper, aluminum is a more cost-effective and lighter cable option, and it is softer and less damaged during installation. In the past few years, copper wires and cables have been increasingly replaced by aluminum wires and cables. For overhead transmission cables, aluminum is more suitable than copper because of its lighter weight and anti-corrosion properties. It is widely used in products including transformers, construction wires, electrical appliances and automobiles. Its outstanding characteristics and substitution are The main factor that promotes the development of the market.
This WKI market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Aluminium Alloy Wire companies that include Hydro，Alro，UC RUSAL，Baotou Aluminium，Liljedahl Winding Wire and others.
Segmentation of Aluminium Alloy Wire Market:
According to the type, the market for Aluminium Alloy Wire is divided into 1000 and 2000 series,3000 and 4000 series,5000 and 6000 series,7000 and 8000 series.7000 and 8000 series occupy the leading position in this market segment,Since it is lighter, the pulling tension is lower. Lower pulling tension may decrease the chances of damaging the insulated wire in doing so. According to application, the Aluminium Alloy Wire market is divided into Electrical Market，Welding Wire Market，Automotive Market and Mechanical Market with Relative Application.Automotive occupies a dominant position in this segment of the market, and manufacturers are now replacing steel frames with aluminum to reduce body weight without affecting the strength and load-carrying capacity of the vehicle. When these products are used in automotive systems, the weight of the wiring system can be greatly reduced, thereby saving weight and decoration costs, thereby driving industry growth.
Aluminium Alloy Wire Market: Regional Analysis
In terms of geography, the global Aluminium Alloy Wire market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.North America is currently the leading regional market for Aluminium Alloy Wire due to these wirings exhibit high tensile strength and oxide film characteristics, which can be used as a source of electrical connections to promote area growth.The Asia Pacific market is expected to grow with the highest CAGR.Due to high strength, durability and low risk of damage, as well as cost and weight reduction characteristics, they are used in a variety of construction applications, including wiring systems, which stimulate regional demand.
Largest share area：North America
Largest share country：the Unite States