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.

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%.

Request a free sample of the Wires and Cables Market Report

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.

See more on the Wires and Cables Market Report

Check out similar market reports:

Insulated Cables Global Market Report 2022 – By Type (Copper, Aluminum, Fiber Optic), By Voltage (Low Voltage, Medium Voltage, High Voltage), By Application (Electrical Equipment, Construction, Telecommunications, Motor Vehicles, Industrial Machinery) – Market Size, Trends, And Global Forecast 2022-2026

Coaxial Cables Global Market Report 2022 – By Type (Hard-line Cable, Triaxial Cable, Twin Axial Cable), By Applications (Internet Data Transfer, Video Distribution, Radio Distribution Frequency Transfer), By End-User(Cable Television Industry, Military And Aerospace, Internet Service Providers, Telephone Network Operators, Communication Equipment Manufacturers, Other End Users) – Market Size, Trends, And Global Forecast 2022-2026

Aluminum Rolled Products Global Market Report 2022 – By Product (Foil, Plate, Sheet), By Grade (1xxx Series, 3xxx Series, 5xxx Series, 6xxx Series), By End User (Automotive and Transportation, Building and Infrastructure, Packaging, Consumer Durables) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: http://blog.tbrc.info/ 

View original content:https://www.prnewswire.com/news-releases/3d-printing-technology-helps-boost-the-aluminium-wires-market-growth-301525869.html

SOURCE The Business Research Company