According to the latest report by IMARC Group, titled “Global Copper Wire Market Report, Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global copper wire market reached a volume of 18.6 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 25.5 Million Tons by 2027, exhibiting a CAGR of 5.70% during 2022-2027.
Copper wires are mainly used in electrical wiring. They require less insulation compared to other metals and offer high electric transmission with minimal resistance. Copper wires are largely utilized in making cables where they are assembled into a common jacket. They find widespread applications across various industries, such as power generation, building and construction, telecommunication, transportation, electronics, industrial equipment, etc., across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Copper Wire Market Trends and Drivers:
The continuous development of power transmission and distribution infrastructures, on account of the escalating demand for uninterrupted electricity supply, is primarily driving the copper wire market. Additionally, the elevating product requirement for heating, ventilation, and air conditioning (HVAC) systems, lighting solutions, electronic entertainment devices, etc., in smart homes is further augmenting the market growth.
Apart from this, the increasing need for copper wires in telecom power systems to assist in communication services is also catalyzing the global market. Moreover, the rising levels of industrialization and the inflating penetration of integrated machinery for advanced operational efficiency are acting as significant growth-inducing factors.
In addition to this, the expanding investments in the construction sector, coupled with the growing popularity of modern housing projects is also stimulating the market growth. Furthermore, the emerging trend of hybrid power solutions that offer high energy density, minimal carbon footprints, and enhanced reliability is anticipated to propel the copper wire market over the forecasted period.
|Copper Wire Market Report Scope|
|Market volume in 2021||18.6 Million Tons|
|Market forecast in 2027||25.5 Million Tons|
|Growth Rate||CAGR of 5.70% from 2022 to 2027|
|Base year for estimation||2021|
Global Copper Wire Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Armacell, BASF SE, Covestro AG, Dow Inc., Huntsman Corporation, Kaneka Corporation, Recticel, Saudi Basic Industries Corporation (Saudi Aramco), Sealed Air Corporation, Sekisui Chemical Co. Ltd., Woodbridge and Zotefoams Plc.
The report has segmented the market on the basis of region, application.
Breakup by Application:
Building and Construction
Telecommunication and Power
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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