Copper Wire Rod Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Copper Wire Rod Market is segmented By Type( OD<0.3 inches, OD 0.3 – 0.6 inches, OD> 0.6 inches) By End-User( Telecommunications, Power Cables, Building wires, Aerospace industry, Automotive harnesses, Energy and heat transfer, Others (Railways and metro railways)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis 2024-2031

Market Overview

The Global Copper Wire Rod Market is expected to grow at a high CAGR during the forecasting period 2024 - 2031.

• Copper is a highly malleable and ductile metal with high thermal and electrical conductivity and antibacterial characteristics, which make it ideal for numerous industrial applications.
• Bronze and brass are two critical alloys of copper finding usage in several application areas. copper is an essential non-ferrous base metal having broad industrial applications.
• Today it has become a significant industrial metal, ranking 3rd after iron and aluminum regarding quantities consumed.

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Market Driver and Restraints

Drivers

• We see the demand for copper in the electrical segment grow due to the demand via the infrastructure sector. The market is majorly driven by the creation of capability in power, mining, oil and gas refinery, steel, automotive, and consumer durables sector in the engineering sector.
• The telecom industry is adapting to the use of optic fiber cables which use copper in their wiring. A steep rise witnessed in infrastructure development activities in developing countries in the past few years has led to a substantial increase in copper. As the construction industry continues to grow at a swift pace and is expected to do so in the next few years as well, demand for copper in developing countries of the Asia Pacific and other growing regions such as Latin America is expected to remain high over the next few years.
• Moreover, the rising global output of entities such as domestic and consumer appliances, transportation equipment, industrial machinery, and an array of other durable goods is also leading to an increased demand for copper.

Restraints

• The market faces stiff competition from cheaper alternatives such as aluminum, titanium, and plastic for a variety of application areas, which is expected to restrain the market’s growth to a certain extent over the forecast period. Nevertheless, the market will benefit from ongoing research and development activities in the field of green construction.
• In 2016, Asia-Pacific held the most significant regional market share for the copper-stranded wire market. Asia-Pacific is the fastest-growing region in the copper-stranded wire market, due to the increasing construction and growing energy demand. Increasing infrastructural projects is one of the factors favoring the market growth.
• Large-scale investments in countries, like China and India, toward the positive growth of the infrastructural sector in these regions, are fuelling the market for new houses. According to the International Copper Study Group (ICSG), China ranks first in refined copper rod Consumption worldwide accounting for 45% of copper usage.
• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The report profiles the following companies, which include Mitsubishi Motors, Liljedahi Group, KGHM, Aurubis, Sumitomo Electric, Bajoria Group, Kocbay Metal, Ducab, TDT Copper, Artyomovsk Non-ferrous metals processing works, Hindalco Limited, and Vedanta Industries Ltd.