Copper Wire Market Size, Share & Industry Analysis, By Type (Beryllium Copper wire, Copper Alloy wire, Copper Clad Aluminium wire, Copper Clad Steel wire, Copper Nickel & Nickel Plated Copper wire , Titanium Clad Copper wire), By End Use Industries (Construction, Motors, Transformers & power generation, Aerospace & defence, Petrochemical and nuclear, medical industries) Others and Regional Forecast, 2024-2032

Copper wire is the best electricity conductor than any substitute material. Copper wire provide easy and safe connections. They are easier to bend and has a high melting point. Heavy overloads or current surges can be beard by a copper wire without the risk of damage. Different types of copper wire share a common feature of electricity conduction with nominal resistance with low voltage.  One of the most important properties of copper is that it is malleable.  Due to this characteristic, thin sheets of copper can be made. It can be deformed without taking stress and without breaking. Copper is characterized by excellent thermal and electrical conductivity. Copper can withstand environmental changes, which leads to rusting and corrosion. Copper has a very good ability to combine with other metals to form alloys.

Key Market Driver -

The rising demand for copper wires in automotive industries is driving the market coupled with increasing consumption of electricity.

Key Market Restraint -

Availability of substitutes may hamper the growth of this market.

Copper has excellent resistance to corrosion, heat transfer strength, higher conductivity than aluminum and is more ductile with relatively high tensile resistance.  These variables drive the market for copper wire. Copper requires less maintenance and is more durable. In large air conditioning systems, Copper can withstand fluid pressures. Such advantages of copper over other metals makes the copper grow significantly enhancing its application in electrical productivity. Copper plays a critical role in the design, performance, comfort and safety of automobiles. Copper is a multifunctional material whose characteristics have made it a key component in automobiles. Hence the rising demand for copper wires in the automotive industry is driving the market coupled with increased electricity consumption. However, availability of substitutes such as aluminum and metal wires may hamper the growth of this market.

Market Segmentation:

On the basis of type, the market of Copper wire is segmented into beryllium copper wire, copper alloy wire, copper clad aluminium wire, copper clad steel wire, copper nickel & nickel plated copper wire, oxygen-free highly conductive copper (OFHC) wire and titanium clad copper wire

On the basis of end-use industry, the market is segmented into constructions, motors, transformers & power generation, aerospace & defence, petrochemical and nuclear and medical industries

From a geographical standpoint, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered

The global copper wire market is fairly fragmented with a number of global & regional players operating. Some of the key players in the Copper Wire market includes Prysmian Group, Alan Wire Company, Nexans, General Cable Technologies Corporation and Sumitomo Electric Industries Ltd  , Aviva Metals, Luvata, NINGBO JINTIAN COPPER (GROUP) CO., LTD., SH Copper Products Co., Ltd, Tatung Co., Tongling Jingda Electromagnetic Wire Co., Ltd.

Key Insights

• New Advancements in Production Technologies


• Key Trends in Copper Wire market


• New Product Launches, Expansions, Key Players


• Ranking of key Players in the Market

Regional Analysis:

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Based on geography, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia Pacific owns the highest share in the copper wire market owing to the rising developments in this region and increased application in electronics products. North America is expected to exhibit strong growth. This growth can be attributed to high demand for copper wire in the construction industry for electricity distribution and transmission. Europe holds a prominent share in this market due to the application in automotive industry. In automobiles copper wire are used to reduce vehicle weight in order to improve fuel economy. Copper plays a crucial role in automotive design, efficiency, comfort and safety. Copper is a multifunctional material which has made it a key component in automobiles. Latin America and middle east are comparatively smaller markets which has witnessed sluggish growth in this market.

Segmentation

Copper Wire Industry Developments

• In June2019, The Prysmian Group, the world's largest supplier of cables, is growing its range with the network cable Draka UC400 23 Cat which is extremely lightweight and versatile to use. Which is used mainly for buildings in the public sector (schools, hospitals, airports, etc.) and office buildings.


• In April 2019, Atlas Holdings announced the acquisition of International Wire Group Holdings, Inc. which is designer and manufacturer of highly-engineered copper based wire products headquartered in New York. This acquisition was done to increase the technical capabilities and serve the customers.