3D Printing Technology Helps Boost The Aluminium Wires Market Growth

TBRC's research report covers fiber optic cables, coaxial cables, and other insulated nonferrous wires which are copper and aluminum wires.

LONDON, April 14, 2022 /PRNewswire/ -- Companies in the aluminum wires market have been adopting latest technologies, so that they can compete in the ever-changing technology market. Additive manufacturing, commonly known as 3D printing is the latest trend in the aluminium wires market. The 3D printing technology uses scrap as input and prints various forms of aluminium products.

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For instance, ValCUN, a Belgium-based company is involved in the business of 3D printing with primary focus on aluminium. The company has the capabilities to print various products of aluminium using a scrap form of aluminium. ValCUN, uses a molten metal deposition (MMD) technique in which first, the metal is melted, then the workpiece is heated using plasma, and finally, the material is deposited. This MMD process supposedly leads to less heat and energy expended compared to heating an entire chamber.

The global wires and cables market size is expected to grow from $210.35 billion in 2021 to $232.38 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wire and cable market is expected to reach $334.60 billion in 2026 at a CAGR of 9.5%.

The global aluminium wires market share specifically reached a value of nearly $53.33 billion in 2021, and is expected to grow to $62.08 billion in 2026 at a rate of 3.08%.

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Regional Outlook

Asia Pacific is the largest region in the global aluminium wires market, accounting for 44.2% of the total in 2021. It is followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the aluminum wires market will be the Middle East and Asia Pacific, where growth will be at CAGRs of 3.64% and 3.56% respectively. These will be followed by the Africa, and South America where the markets are expected to grow at CAGRs of 3.28% and 3.06% respectively, during 2021-2026.

Aluminium Wire Market Segments

The aluminium wires market is segmented by product into enameled, paper insulated, fiber glass insulated, nomex insulated, mica insulated, and cotton insulated. The enameled market was the largest segment of the aluminium wires market segmented by product, accounting for 47.7% of the total in 2021. Going forward, the paper insulated market is expected to be the fastest growing segment in the aluminium wires market segmented by product, at a CAGR of 4.2% during 2021-2026.

The aluminium wires market is also segmented by grade into electrical, alloy, and mechanical, and by end-user into aerospace, railways, other transportation, buildings & construction, energy, robotics, packaging, and other end users.

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