Technavio Announces the Publication of its Research Report Global Aluminum Wire Rods Market 2017-2021
Technavio recognizes the following companies as the key players in the global aluminum wire rods market: HongFan Holdings, Norsk Hydro, RUSAL, Vedanta Resources, and Vimetco.Other Prominent Vendors in the market are: Alcoa, Alro, General Cable Technologies, Hindalco Industries (Aditya Birla Management), INOTAL, Lamifil, OAPIL, and Southwire.Commenting on the report, an analyst from Technavios team said: One trend in the market is modern casting technique to produce aluminum wire rods. The aluminum wire rods market has witnessed new techniques of the production of aluminum wire rods that reduce not only the cost of production, but also significantly reduces the processing time of the wire rods.
Continuous casting is a unique method, different from other metal casting operations.
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According to the report, one driver in the market is increasing demand for aluminum wire rods for power engineering. Electrical transmission lines prove to be the largest application segment for the global aluminum wire rods market backed by the economic advantage that aluminum wire rods offer by being less expensive than copper, while transmitting relatively more energy, in the field of power engineering.
The increasing demand for the application of aluminum welding wires that are obtained from aluminum wire rods, and used in electrical transmission lines, not only contribute to increasing sales in the global aluminum wire rods market, but also plays a role in strengthening the market.Further, the report states that one challenge in the market is LME price fluctuations. The LME prices can show high fluctuations.
In July 2008, the price of aluminum was $3067. The price of aluminum decreased post-recession, principally due to less demand for aluminum and oversupply of inventory, which was then followed by an increase in the prices leading up to October 2010.
Therefore, fluctuations in the LME prices threatens the global aluminum wire rods market. The rise in the prices of LME pertaining to aluminum increases the selling price of aluminum wire rods, thereby offering a wider scope for substitutes including copper to enjoy a price advantage.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Aluminum Wire RodsAluminum is purchased typically in a coil by wire mills, to be employed in the manufacture of rods. The manufacturing process of a rod involves the assigning of unique heat or a lot number.
This lot or heat pertaining to aluminum is then processed to arrive at the final rod state. The aluminum rod that has undergone processing is then cold-drawn to arrive at the final desired aluminum wire diameter.
Aluminum wire rods typically have a diameter in the range of 9.6 mm-32 mm.Technavios analysts forecast the global aluminum wire rods market to grow at a CAGR of 1.86% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global aluminum wire rods market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
MEATechnavio's report, Global Aluminum Wire Rods Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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Other prominent vendors
General Cable Technologies
Hindalco Industries (Aditya Birla Management)
Increasing demand for aluminum wire rods for power engineering
For a full, detailed list, view our report Market challenge
LME price fluctuations
For a full, detailed list, view our report Market trend
Modern casting technique to produce aluminum wire rods
For a full, detailed list, view our report Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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