Market Overview

Copper Alloy Wire Market, better wiring practice improving copper's position, to register a CAGR of 6.7% during 2017-2023

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NEW YORK, Aug. 13, 2018 (GLOBE NEWSWIRE) -- The global copper alloy wire market is expected to witness a CAGR of 6.7 % and is projected to reach USD 4,958.3 Million by 2023. Economic growth, growing urbanization primarily in developing economies, upgrading power & telecom infrastructure and technological advancement are some of the key growth drivers for the global copper alloy wire market. Copper wiring and piping, as well as copper alloys are used extensively in both commercial and residential construction. Rising demand from various industries, primarily from Asia-Pacific economies is the major factor driving global market growth.

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). The report studies the global copper alloy wire market during the forecast period (2017-2023).

The copper alloy wire market in 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, telecommunications, and other industries. 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

Browse full research report with TOC on "Global Copper Alloy Wire Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023" at: https://www.energiasmarketresearch.com/global-copper-alloy-wire-market-outlook-trend-opportunity/

Key Findings of the Global Copper Alloy Wire Market Report

  • The copper alloy wire market is expected to reach USD 4,958.3 million by 2023.

  • 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 key players operating in copper alloy wire market include KME, Nexans, Diehl Metall, FisK Alloy, Inc., Lutava, Alloy Wire International, Shanghai Kangcheng Copper, San-Etsu Metals Co., Ltd. and others

Copper Alloy Wire- tool to develop better actuators, biomedical engineering and smart materials

Recently a sizeable market has been developing for products and applications based on the functional properties of alloys. After a lengthy gestation period, these unique materials are finally achieving acceptance in the marketplace. Their increasing success is due in part to an improved choice of appropriate applications in a very varied market, and in part to such factors as proven reliability, substantial technical improvements, and the availability of competitively priced high quality materials. Initially, the demonstrations of the functional properties are limited to numerous gadgets. Today, however, these materials have become commercially important, particularly where they represent the unique solution to technical design problems, for example in the niche areas of microactuators and superelastic materials.

Copper Alloy Wire Market- Regional Insight

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 fastly evolving industries in this region is expected to increase the demand for copper alloys and its products.

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