On a commercial scale, Aluminum Alloys (AA) is usually used to cater to commercial objectives. Globally, the industry
is classified on the basis of a 4-digit number where the first digit displays major alloying element, second indicates
classification of the alloy, the third and fourth digit exhibit specific alloys in the series except for 1xxx indicating
purity of the element. For instance, alloy series such as 1xxx, 6xxx and 8xxx are used for electrical purpose. Hence,
overall with the major classification and specific bifurcations yielding positive market growth enables a higher CAGR
growth during the forecast period.
Global aluminum wire rod consumption market is driven by factors such as rising capacity in utilization level of
conductor manufacturers. Additionally, aluminum possesses several characteristics essential for certain electric
applications. This factor also enables extensive usage of aluminum in electric industries.
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Global aluminum wire rod consumption market is geographically segmented into North America, Latin America,
Europe, Asia-Pacific, Middle-East & Africa. APAC regions are anticipated to grow at a higher CAGR in the forecast period
owing to presence of large and small electric and automotive industries. Regions such as China, Japan, Singapore, India
are expected to grow in the forecast period owing to large consumer base and favorable business opportunities.
North America and European markets are expected to grow at a higher CAGR in the forecast period owing to
development of electric industries and rise in import and export. Middle-East and African regions are expected to
witness a moderate CAGR growth owing to developing industrial and electrical infrastructure which is expected to
propel the national market in these regions.
The key players in the global aluminum wire rod consumption market include General Cable, Alcoa, Norsk Hydro,
RUSAL, Vimetco, Hindalco, Hongfan Holdings, INOTAL, Lamifil, National Aluminum Company (NALCO), NPA Skawina,
Southwire, Oman Aluminum Processing Industries (OAPIL), TRIMET Aluminum, and Vedanta.
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