The global copper wire market size 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.
A copper wire is a single electrical conductor that is primarily used in electrical wiring. It offers high electric transmission with minimal resistance and requires less insulation as compared to other metals. It can also withstand extreme climate conditions and hold more electrical current per diameter of the wire. As a result, copper wires find extensive applications across the building and construction, power generation, telecommunication, transportation, and electronics industries.
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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|Base Year: 2021|
|Forecast Year: 2022-2027|
Copper Wire Market Trends and Drivers:
The market is primarily driven by the increasing usage of copper wires in heating, ventilation, and air conditioning (HVAC) systems, electronic entertainment devices, and lighting solutions in smart homes. In addition, the rising number of power generation units and the escalating need for grid interconnections represent other major growth-inducing factors.
Besides this, governments in developing economies are making huge investments to establish grid connectivity in remote and rural areas. This, coupled with the rising product adoption in telecom power systems to assist in telecommunication services, is positively influencing the market growth.
Furthermore, rapid industrialization, the growing penetration of integrated machinery for advanced operational efficiency, and the emergence of hybrid power solutions are some of the other factors creating a favorable market outlook across the globe.
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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
- Industrial Equipment
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
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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