Global Copper Stranded Wire Market

Description

The copper stranded wire industry is a fast-paced emerging market as it is extensively used for electrical wiring of commercial and residential buildings and industries. The stranded copper wireis composed of several small wires bound together to form a larger conductor. It is more flexible and tends to be a better conductor than solid wire owing to the greater surface area of numerous wires bundled together. Due to its great functionality, stranded wire is used for moving the cables between knobs, switches and circuit boards.

Market Dynamics:

Here we will analyze the market dynamics such as drivers, trends and industry-specific challenges for the construction composite market.

Drivers:

Due to the economic boom, there is an ever-increasing demand for electrical services throughout residential and commercial buildings. The copper stranded wire serves the traditional market for building wire. Presently, in the US, copper has 93% of the building wire market.
Owing to its excellent heat and electrical conducting properties, Copper is widely used in applications such as the electrical wiring in homes or in the electronic devices. Copper is used broadly for manufacturing electrical machinery, cables for power and telecommunications, and automobiles. Brass and other similar alloysare also made of copper. However, the electrical industry consumes asubstantial bulk of the total amount of copper produced. The industry imports raw copper and exports finished products. India exports about 400,000 tons of copper which include raw copper. Telecommunications service providers in India, BSNL and MTNL consume 10% of the country’s copper production. The high demand for copper is due to the growth in the building construction and automobile sector.

Market Segmentation:

The market is segmented by Type:
• Solid copper stranded wire
• Soft copper stranded wire
The two important wires used in electronics – Solid and stranded copper wires have their own strengths and weaknesses. While stranded copper wire is flexible and has a lot of movement, solid wire isn’t.Solid copper wire retains the electric current while stranded wire often loses current due to theseparate individual strand and the increased surface area. Stranded wire is used in a variety of electrical components like circuit board connections while thesolid copper wire is used in electric motors and copper coils.Solid wire is more resistant to unfavorable weather and corrosion. The soft copper stranded wire is extremely flexible and can be bent easily into different shapes.
Stranded wire is used in these areas:
• lightning protection/earthing
• power engineering
• heavy current engineering
• solar power
• wind power
• offshore/submarine cables
• automotive, rail, aviation, space travel
• IT/telecommunications (smartphones, tablets

The market is segmented by Application:
• Energy
• Telecommunication
• Transportation

Geographic analysis:

Countries such as Chile and the US still have considerable reserves of copper which are extracted through mining. In the past couple of years, prices of copper have risen rapidly and this largely due to increased demand. As of late, copper has been in the news on account of high volatility in prices. India is seen as an emerging exporter of copper due to therise in production by electrical companies. In the US, about 60% of all copper and its alloys consumed are used because of the element of electrical conductivity of the metal, and about 80% of that is wire and cable.

Key Players:

Some of the major players in the market include:
• Prysmian Group
• Nexans
• General Cable
• SUMITOMO ELECTRIC
• Southwire
• SKB Group
• FESE
• Superior Essex
• Poly Cab
• Alfanar