Europe - Aluminum Wire Rods Market by Application and Grade Type - Forecast and Analysis 2024-2028
| Published: Dec 2023 | Pages: 152 | SKU: IRTNTR41629 |
Europe - Aluminum Wire Rods Market 2024-2028
The Europe - Aluminum Wire Rods Market size is estimated to grow at a CAGR of 5.54% between 2023 and 2028, with the market size forecast to increase by USD 1.17 billion.
The report includes a comprehensive outlook on the Europe Aluminum Wire Rods Market offering forecasts for the industry segmented by Application, which comprises cables and conductors, mechanical, and deoxidization. Additionally, it categorizes Grade Type into electrical and alloy and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The growth of the market is propelled by the increase in steel production in Europe, although its progress is hindered by the low-cost imports from China. Furthermore, there is a notable upward trend including the rise in HVDC cable installations.
What will be the size of the Europe Aluminum Wire Rods Market During the Forecast Period?
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Europe Aluminum Wire Rods Market Definition
Aluminum wire rods are made from liquid aluminum. The diameter of these rods is reduced by extruding them through a series of dies to obtain a diameter of 9-32 millimeters (mm) by roller and drawing processes. Aluminum wire rods are used in applications such as cables and conductors due to their high electrical conductivity, lightweight, and resistance to corrosion. These rods are mainly used in the electric utility segment for power transmission and distribution applications. Aluminum wire rods do not face any stiff competition from other metals for transmission and distribution applications owing to their cost advantages.
Europe Aluminum Wire Rods Market Segment Insights
Application Insights
The cables and conductors segment is estimated to witness significant growth during the forecast period. Aluminium wire rods are used to manufacture a wide range of cables and conductors due to their low costs and high electrical conductivity. Aluminum wire rods are largely preferred for power cables, overhead conductors, and overhead power lines due to their excellent electrical and mechanical properties.
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The cables and conductors were the largest segment and were valued at USD 2.50 billion in 2018. Aluminum conductors are typically produced using aluminum wire rods. Generally, these conductors contain about 99.5% aluminum and are made of one or more strands of aluminum wires, depending on their end-use applications. These conductors are primarily used in the transmission and distribution sector in applications such as overhead lines. Aluminum conductors are known for their tensile strength, corrosion resistance, and shockproof properties. They are widely used in urban areas for short-space applications. The increasing focus on the expansion of power networks and the broadening of renewable energy sources such as the installation of offshore and onshore wind energy farms, are likely to drive the demand for aluminum wire rods in the cables and conductors application segment, thereby driving the market growth during the forecast period.
Grade Type Insight
Based on the grade type, the market has been segmented into electrical and alloys. The electrical segment will account for the largest share of this segment.?
Europe Aluminum Wire Rods Market: Key Drivers, Trends, and Challenges
An increase in steel production in Europe is notably driving the market growth. Steel is one of the essential commodities that contribute substantially to Europe's economic growth. The construction industry has been a key contributor to the growth of the Europe - aluminum wire rods market. Further, aluminum wire rod products are widely used to produce steel. They are deoxidization agents and help in removing the oxygen content during the steelmaking process. The steel deoxidization process enhances the quality of steel produced and makes it blowholes-free. Aluminum oxide produced during this process ensures durability and provides strength to steel. Therefore, the increase in the production of steel in Europe is expected to significantly boost the market growth during the forecast period.
The rise in HVDC cable installations is an emerging trend shaping the market growth. High-voltage direct current (HVDC) cables are a highly efficient medium for transmitting large volumes of electrical power for special-purpose applications and over long distances. Furthermore, the HVDC uses high-temperature cables that are made of both standard steel or aluminum conductors and high-temperature superconductor materials that enable cables to operate at higher temperatures than standard steel or aluminum cables. Compared to HVDC, cables made of standard conductors heat up very fast if a high-voltage current is passed through them. Therefore, owing to the superior performance of HVDC cables, their adoption is increasing, which in turn will positively affect the market growth during the forecast period.
Low-cost imports from China are a significant challenge hindering the market growth. China is one of the largest producers and consumers of aluminum. In 2021, China produced more than 38.8 million metric tons of aluminum. Furthermore, the easy availability of low-cost raw materials and labor has a positive influence on the aluminum industry in China. Europe is focusing on decreasing its carbon footprint and progressing toward its low-carbon economy goals. This discourages aluminum wire rod manufacturers in the region compared with Chinese aluminum wire rod manufacturers. Due to the above-mentioned factors, price competition from Chinese suppliers might become one of the major challenges faced by aluminum wire rod manufacturers in Europe if the region does not proactively implement anti-dumping measures against China. Hence, the low-cost imports from China is expected to hamper the growth of the market during the forecast period.
Who are the Major Europe Aluminum Wire Rods Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alcoa Corp - The company offers aluminum wire rods under its brand SUSTANA.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Alcoa Corp., Asturiana de Aleaciones S.A., Hindalco Industries Ltd., INOTAL Alumíniumfeldolgozo Zrt., Lamifil NV, LONTANA S.A., National Aluminium Co. Ltd., Nexans SA, Norsk Hydro ASA, NPA Skawina Sp. z o.o., Prysmian Spa, TRIMET Aluminium SE, United Company RUSAL, Vedanta Ltd, Vimetco NV, and Zvetlit
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Europe Aluminum Wire Rods Market Customer Landscape
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Europe Aluminum Wire Rods Market Customer Landscape
| Europe Aluminum Wire Rods Market Scope | |
|
Report Coverage |
Details |
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Page number |
152 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.54% |
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Market Growth 2024-2028 |
USD 1.17 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.72 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alcoa Corp., Asturiana de Aleaciones S.A., Hindalco Industries Ltd., INOTAL Alumíniumfeldolgozo Zrt., Lamifil NV, LONTANA S.A., National Aluminium Co. Ltd., Nexans SA, Norsk Hydro ASA, NPA Skawina Sp. z o.o., Prysmian Spa, TRIMET Aluminium SE, United Company RUSAL, Vedanta Ltd, Vimetco NV, and Zvetlit |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Europe Aluminum Wire Rods Market Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2024 and 2028
- Precise estimation of the market size and its contribution of the market in focus to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across Europe
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Grade Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Europe: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
4 Historic Market Size
- 4.1 Aluminum wire rods market in Europe 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on aluminum wire rods market in Europe 2018 - 2022 ($ billion)
- 4.2 Application Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)
- 4.3 Grade Type Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Grade Type Segment 2018 - 2022 ($ billion)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 29: Chart on Application - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Application - Market share 2023-2028 (%)
- 6.2 Comparison by Application
- Exhibit 31: Chart on Comparison by Application
- Exhibit 32: Data Table on Comparison by Application
- 6.3 Cables and conductors - Market size and forecast 2023-2028
- Exhibit 33: Chart on Cables and conductors - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Cables and conductors - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Cables and conductors - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Cables and conductors - Year-over-year growth 2023-2028 (%)
- 6.4 Mechanical - Market size and forecast 2023-2028
- Exhibit 37: Chart on Mechanical - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Mechanical - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Mechanical - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Mechanical - Year-over-year growth 2023-2028 (%)
- 6.5 Deoxidization - Market size and forecast 2023-2028
- Exhibit 41: Chart on Deoxidization - Market size and forecast 2023-2028 ($ billion)
- Exhibit 42: Data Table on Deoxidization - Market size and forecast 2023-2028 ($ billion)
- Exhibit 43: Chart on Deoxidization - Year-over-year growth 2023-2028 (%)
- Exhibit 44: Data Table on Deoxidization - Year-over-year growth 2023-2028 (%)
- 6.6 Market opportunity by Application
- Exhibit 45: Market opportunity by Application ($ billion)
- Exhibit 46: Data Table on Market opportunity by Application ($ billion)
7 Market Segmentation by Grade Type
- 7.1 Market segments
- Exhibit 47: Chart on Grade Type - Market share 2023-2028 (%)
- Exhibit 48: Data Table on Grade Type - Market share 2023-2028 (%)
- 7.2 Comparison by Grade Type
- Exhibit 49: Chart on Comparison by Grade Type
- Exhibit 50: Data Table on Comparison by Grade Type
- 7.3 Electrical - Market size and forecast 2023-2028
- Exhibit 51: Chart on Electrical - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Electrical - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Electrical - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Electrical - Year-over-year growth 2023-2028 (%)
- 7.4 Alloy - Market size and forecast 2023-2028
- Exhibit 55: Chart on Alloy - Market size and forecast 2023-2028 ($ billion)
- Exhibit 56: Data Table on Alloy - Market size and forecast 2023-2028 ($ billion)
- Exhibit 57: Chart on Alloy - Year-over-year growth 2023-2028 (%)
- Exhibit 58: Data Table on Alloy - Year-over-year growth 2023-2028 (%)
- 7.5 Market opportunity by Grade Type
- Exhibit 59: Market opportunity by Grade Type ($ billion)
- Exhibit 60: Data Table on Market opportunity by Grade Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 62: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 63: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 64: Chart on Geographic comparison
- Exhibit 65: Data Table on Geographic comparison
- 9.3 Germany - Market size and forecast 2023-2028
- Exhibit 66: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 67: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 69: Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.4 France - Market size and forecast 2023-2028
- Exhibit 70: Chart on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on France - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on France - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on France - Year-over-year growth 2023-2028 (%)
- 9.5 Italy - Market size and forecast 2023-2028
- Exhibit 74: Chart on Italy - Market size and forecast 2023-2028 ($ billion)
- Exhibit 75: Data Table on Italy - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Chart on Italy - Year-over-year growth 2023-2028 (%)
- Exhibit 77: Data Table on Italy - Year-over-year growth 2023-2028 (%)
- 9.6 UK - Market size and forecast 2023-2028
- Exhibit 78: Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 79: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on UK - Year-over-year growth 2023-2028 (%)
- 9.7 Rest of Europe - Market size and forecast 2023-2028
- Exhibit 82: Chart on Rest of Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 83: Data Table on Rest of Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 84: Chart on Rest of Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 85: Data Table on Rest of Europe - Year-over-year growth 2023-2028 (%)
- 9.8 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ billion)
- Exhibit 87: Data Table on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 88: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 89: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 90: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 91: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 92: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 93: Matrix on vendor position and classification
- 12.3 Alcoa Corp.
- Exhibit 94: Alcoa Corp. - Overview
- Exhibit 95: Alcoa Corp. - Business segments
- Exhibit 96: Alcoa Corp. - Key offerings
- Exhibit 97: Alcoa Corp. - Segment focus
- 12.4 Asturiana de Aleaciones S.A.
- Exhibit 98: Asturiana de Aleaciones S.A. - Overview
- Exhibit 99: Asturiana de Aleaciones S.A. - Product / Service
- Exhibit 100: Asturiana de Aleaciones S.A. - Key offerings
- 12.5 Hindalco Industries Ltd.
- Exhibit 101: Hindalco Industries Ltd. - Overview
- Exhibit 102: Hindalco Industries Ltd. - Business segments
- Exhibit 103: Hindalco Industries Ltd. - Key offerings
- Exhibit 104: Hindalco Industries Ltd. - Segment focus
- 12.6 INOTAL Alumíniumfeldolgozo Zrt.
- Exhibit 105: INOTAL Alumíniumfeldolgozo Zrt. - Overview
- Exhibit 106: INOTAL Alumíniumfeldolgozo Zrt. - Product / Service
- Exhibit 107: INOTAL Alumíniumfeldolgozo Zrt. - Key offerings
- 12.7 Lamifil NV
- Exhibit 108: Lamifil NV - Overview
- Exhibit 109: Lamifil NV - Product / Service
- Exhibit 110: Lamifil NV - Key offerings
- 12.8 National Aluminium Co. Ltd.
- Exhibit 111: National Aluminium Co. Ltd. - Overview
- Exhibit 112: National Aluminium Co. Ltd. - Business segments
- Exhibit 113: National Aluminium Co. Ltd. - Key offerings
- Exhibit 114: National Aluminium Co. Ltd. - Segment focus
- 12.9 Nexans SA
- Exhibit 115: Nexans SA - Overview
- Exhibit 116: Nexans SA - Business segments
- Exhibit 117: Nexans SA - Key offerings
- Exhibit 118: Nexans SA - Segment focus
- 12.10 Norsk Hydro ASA
- Exhibit 119: Norsk Hydro ASA - Overview
- Exhibit 120: Norsk Hydro ASA - Business segments
- Exhibit 121: Norsk Hydro ASA - Key offerings
- Exhibit 122: Norsk Hydro ASA - Segment focus
- 12.11 NPA Skawina Sp. z o.o.
- Exhibit 123: NPA Skawina Sp. z o.o. - Overview
- Exhibit 124: NPA Skawina Sp. z o.o. - Product / Service
- Exhibit 125: NPA Skawina Sp. z o.o. - Key offerings
- 12.12 Prysmian Spa
- Exhibit 126: Prysmian Spa - Overview
- Exhibit 127: Prysmian Spa - Business segments
- Exhibit 128: Prysmian Spa - Key offerings
- Exhibit 129: Prysmian Spa - Segment focus
- 12.13 TRIMET Aluminium SE
- Exhibit 130: TRIMET Aluminium SE - Overview
- Exhibit 131: TRIMET Aluminium SE - Product / Service
- Exhibit 132: TRIMET Aluminium SE - Key offerings
- 12.14 United Company RUSAL
- Exhibit 133: United Company RUSAL - Overview
- Exhibit 134: United Company RUSAL - Business segments
- Exhibit 135: United Company RUSAL - Key offerings
- Exhibit 136: United Company RUSAL - Segment focus
- 12.15 Vedanta Ltd
- Exhibit 137: Vedanta Ltd - Overview
- Exhibit 138: Vedanta Ltd - Business segments
- Exhibit 139: Vedanta Ltd - Key offerings
- Exhibit 140: Vedanta Ltd - Segment focus
- 12.16 Vimetco NV
- Exhibit 141: Vimetco NV - Overview
- Exhibit 142: Vimetco NV - Product / Service
- Exhibit 143: Vimetco NV - Key offerings
- 12.17 Zvetlit
- Exhibit 144: Zvetlit - Overview
- Exhibit 145: Zvetlit - Product / Service
- Exhibit 146: Zvetlit - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 147: Inclusions checklist
- Exhibit 148: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 149: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 150: Research methodology
- Exhibit 151: Validation techniques employed for market sizing
- Exhibit 152: Information sources
- 13.5 List of abbreviations
- Exhibit 153: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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aluminum wire rods market in europe market
Key Questions Answered
- What are the key global market and the regional market share?
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- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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