A new report published by Transparency Market Research anticipates that the global aluminum wire rods market will grow exceptionally during 2018-2026 owing to the rapid industrialization and urbanization across the globe. Aluminum’s explicit range of properties such as durability, high recyclability and lightweight will play a major role in driving the demand of the market.
The metal is used to produce wiring that connects power grids to various end-users such as industries, residential apartments, and commercial buildings. Moreover, aluminum recycling has led to a positive impact on the environment due to the sustainable production of the metal. Around 75% of the total aluminum produced till date is still in usage. Presently, aluminum is utilized in several forms due to its versatility; one such use is aluminum wire rods.
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Aluminum wire rods are primarily defined as aluminum rods having less than 3/8 inch diameter. The aluminum wire rods act as the highest quality material for cables and also have desirable electrical and mechanical properties required for various applications. It is necessary to ensure full conformity with high-quality control norms to minimize external threats and vulnerabilities while producing aluminum wire rods.
In terms of grade type, the aluminum wire rods market is segmented into mechanical, electrical, and alloy. Among these, electrical grade segment is anticipated to dominate the global aluminum wire rods market during the forecast period. Aluminum wire rods are mainly used to manufacture cables and conductors that are employed for electricity distribution and transmission purposes. The mechanical grade of aluminum wire rods are primarily used for mechanical applications.
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