This market research report includes a detailed segmentation of the global aluminum wire rods market by grade (electrical, alloy, and mechanical) and by application (conductors and cables, mechanical applications, and deoxidization). It outlines the market shares for key regions such as the Americas, APAC, Europe, and MEA. The key vendors analyzed in this report are Baotou Aluminium, Hongfan, RUSAL, Southwire, Sterlite, Vedanta, and Vimetco.
Technavio’s market research analysts estimate the global aluminum wire rods market to grow at a CAGR of 2% between 2015 and 2019. The upgrading of power distribution and transmission lines is primarily contributing to the growth of this market. APAC is the largest market of aluminum wire rods, and occupies around 60% of the total market share. China is the key demand driver and the biggest market in this region. The demand in South Asia, especially in India, is expected to grow rapidly due to the high consumption and investments occurring in this region.
The new market research report from Technavio provides a breakdown and analysis of the aluminum wire rods segments by technology.
“Of late, the governments across the world are focusing on their infrastructure development owing to industrialization processes taking place. The need for renovation and development has triggered the demands for conductors and cables, which has stimulated growth opportunities in the aluminum wire rods market. Aluminum wire rods have good strength-to-weight ratio and are preferably used for deoxidization in steel making units. Also, they have massive application in the power sector die to their conductivity potential,” says Chandrakumar BJG, Lead Analyst, Chemicals & Materials, Technavio Research
The conductors and cables sector is the largest consumer of aluminum wire rods and had a market share of around 78% during 2014. The usage of aluminum wire rods in this sector is expected to grow at a rate of 2% during the forecast period. EC grade aluminum rods are widely used for conductor production for transmission and distribution purposes followed by alloy grades.
The key vendors in the global aluminum wire rods market include Baotou Aluminium, Hongfan, RUSAL, Southwire, Sterlite, Vedanta, and Vimetco. The market is highly competitive. The market is witnessing an increase in consolidations. The market is also expected to see an increase in the influx of private vendors.
A more detailed analysis is available in the Technavio report, Global Aluminum Wire Rods Market 2015-2019.
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