Aluminum Wire Rods Market: Segmentation and Growth by Technavio
14 September 2017
According to the latest market study released by Technavio, the global aluminum wire rods market is expected to grow at a CAGR of almost 2% through 2021.
This research report titled ‘Global Aluminum Wire Rods Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Some of the driving factors in the market are increasing demand for aluminum wire rods for power engineering, upgrading of existing transmission and distribution networks, increased government support across countries, and increased infrastructure investments and competitive edge that aluminum wire rods hold over substitutes.
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Technavio’s analysts categorize the global aluminum wire rods market into three major segments by application. They are:
• Conductors and cables
• Mechanical applications
Global aluminum wire rods market for conductors and cables
The global aluminum wire rods market for the conductors and cables segment is expected to grow at a healthy rate, posting the highest CAGR of almost 2% during the forecast period when compared with that of the other segments. The healthy growth of the segment is principally due to strong demand for aluminum wire rods in electrical transmission and distribution applications.
According to Kshama Upadhayay, a lead metals and minerals research analyst from Technavio, “Electrical grade aluminum rods that are used in overhead line conductors must conform to the specifications including ASTM-233, Grade H12/14, and BS 2627, along with other customer specifications pertaining to the production of overhead electrical transmission.”
Global aluminum wire rods market for mechanical applications
The global aluminum wire rods market is fueled by the demand for aluminum wire rods to be implemented in mechanical applications including aluminum fencing wires and wire screens. They are used in different types of fencings, such as rabbit fencing, chain link fencing, and docking netting. Additionally, aluminum wire rods witness a rising demand for use in residential purposes to act as a protective boundary.
“The use of aluminum wire rods in these applications is principally due to the corrosion resistance property of aluminum, thereby requiring less maintenance. There is an increasing demand for aluminum wire rods in the mining industry in applications such as nails, rivets, among others. Consequently, continuous rotary extrusion lines use aluminum alloy wire rods to make hollow and solid products.” says Kshama.
Global aluminum wire rods market for deoxidization
Deoxidization refers to a method of oxygen content removal used in metallurgy during the manufacturing of steel. The global aluminum wire rods market for deoxidization is growing, with an increasing need to sustain the quality of steel, free from detrimental formation of content such as oxygen. The process of deoxidation involves the inclusion of separate chemical species to remove oxygen directly or to neutralize the impact of oxygen.
The use of aluminum as a deoxidizer results in enhanced surface properties of flat rolled steel products. Aluminum wire rods act as consumables in the process of deoxidization of steel and are preferred due to the facilitation of uniform feed rate associated with the supply to produce crude steel.
The top vendors highlighted by Technavio’s research analysts in this report are:
• HongFan Holdings
• Norsk Hydro
• Vedanta Resources
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