Aluminum Wire Market Size To Reach $48.28 Billion By 2030

Aluminum Wire Market Growth & Trends

The global aluminum wire market size is anticipated to reach USD 48.28 billion by 2030 and is expected to expand at a CAGR of 6.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising cost of copper has resulted in an increased adoption of aluminum for developing wires and cables. Growing requirement of upgrading infrastructure for electricity distribution, increasing investments in construction and telecom industries along with growing production of EVs are anticipated to augment the demand for aluminum wires over the forecast period. Different aluminum alloy series are used for producing aluminum depending upon the characteristics required.

The rise in the price of aluminum has directly impacted the prices of the aluminum wire. China's export tax on primary aluminum, high energy costs in Europe, and ongoing shipping disruptions drive the price surge. Physical delivery premiums are increasing, reflecting strong demand and higher supplier costs. Although exchange prices and rising LME inventories suggest a well-supplied market, aluminum prices have risen slightly as inventory levels decline, with metal from Russia, facing Western sanctions, entering the market. China's export tax has led to a surplus of primary aluminum domestically, with much of its export volume comprising semi-finished products rather than raw metal.

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Aluminum Wire Market Report Highlights

• In 2023, the electrical grade segment accounted for the largest revenue share of 79.5% of the overall aluminum wire market

• Electrical grade aluminum wires are used for wire installations in both residential and commercial structures owing to their low costs. These wires are extensively used for power transmission over long distances

• The power & energy segment dominated the application segment of the market in 2023

• The automotive & transportation segment is anticipated to grow at a revenue CAGR of 5.8% over the forecast period. The automotive & transportation industry utilizes aluminum wires in cars, ships, EVs, and aircraft

• Based on region, Asia Pacific held a revenue share of over 80.0% in 2023 of the global market and Central & South America is expected to grow at a CAGR of 5.0% over the forecast period

• The growing demand for aluminum wire in Asia Pacific can be attributed to increasing investments in power grid infrastructure, rising renewable energy generation, increasing electricity consumption, and growing investments in the telecom and EV industries are some of the prominent factors contributing to the overall demand for aluminum wires in Asia Pacific

Aluminum Wire Market Segmentation

Grand View Research has segmented the global aluminum wire market on the basis of grade, application and region:

Aluminum Wire Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Electrical

• Mechanical

• Others

Aluminum Wire Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Building & Construction

• Automotive & Transportation

• Electrical & Electronics

• Telecommunication

• Power & Energy

• Others

Aluminum Wire Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Indonesia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • GCC

List of Key Players in the Aluminum Wire Market

• Kaiser Aluminum

• Prysmian S.p.A.

• Southwire Company, LLC,

• Cerrowire LLC

• Nexans

• Sumitomo Electric Industries, Ltd.

• Southern Cable Group Berhad

• Henan Chalco Aluminium

• Ducab