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Industry report: copper alloy wire market outlook looks good to 2023

"Global Copper Alloy Wire Market," a report from Energias Market Research, projects that the sector will see CAGR growth of 6.7% from 2017 to 2023, at which point it will have a value of US$4.96 billion,

A press released cited a range of factors for growth in copper wire and copper alloys, including economic growth, growing urbanization primarily in developing economies, upgrading power and telecom infrastructure and technological advancement. The study refers to high performance materials with control and low expansion alloys metal wire. These copper alloys wire are used to produce items for the aerospace, medical, defense, power generation, building wire, appliance lighting, medical, electronics, music, semiconductor, telecom, and other industries.

The report segments copper alloy wire market by Type (Copper Nickel, Brass, Phosphor Bronze, Others), by Application (Automotive, Construction, Electronics and Electrical, Utility, Others), by End-User (Residential, Industrial, Others) and by Region (North America, Europe, Asia-Pacific, South America and RoW). It notes that with technological advancement, preference towards manufacturing of smart materials has led to development of new generation material with enhanced properties and safer operations. Applications requiring material with high electrical and mechanical properties, copper alloy wires offer the solution with proven results.

The brass alloy wire accounted for largest share between the various types in the global copper alloy wire market in 2016. The phosphor bronze segment is expected to witness the highest growth during the forecast period due to their excellent spreadability and their wide uses for connectors. The electrical and electronics application segment is expected to hold major market share of the global copper alloy wire market. Automotive is expected to be the fastest growing application segment during the forecast period.

Geographically, Asia-Pacific was the largest market in the global copper alloy wire market followed by North America in 2016. Asia-Pacific is also forecasted to register highest CAGR during the forecast period. The North American copper alloy wire market was the second largest market in the global copper alloy wire market in 2016. The market is expected to continue being the second largest market by 2023. The growth of the copper alloy wire market in the region is attributed to large quantities of copper and its products used in these industrialized countries in the construction of buildings are consumed in the form of copper tubing, taps, valves, tanks, connections and fittings used in conjunction with it. Further the established automotive sector also contribute to the market growth in the region as more copper alloys wire are used in the new segment of vehicles hitting the market.

The European copper alloy wire market is expected to grow mainly in western region with economies such as Germany, Poland and France leading the market. However, in Europe the copper consumption is arriving to saturation in these developed countries. European companies have pioneered many of the metallurgical processing technologies used worldwide.

In 2016, The Asia-Pacific copper alloy wire market was the largest market accounted for 49.8% of the global copper alloy wire market in 2015. The market is expected to continue being the largest market by 2023. Asia-Pacific copper alloy wire market is expected to register the fastest growth rate during the forecast period, driven by higher level of consumption in China, Korea and India. Moreover, growing sale and manufacturing of electrical and electronics products in these economies are driving the global copper alloy copper market. Rapid urbanization and quickly evolving industries in this region are expected to increase the demand for copper alloys and its products.

For more details, contact Manas Nagi, business development manager, tel. 716-239-4915, This email address is being protected from spambots. You need JavaScript enabled to view it., www.energiasmarketresearch.com.

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