The latest research study “Copper Wire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that 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.
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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.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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.
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|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 9.00% 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
- 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
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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
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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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