COPPER CLAD STEEL WIRE MARKET ANALYSIS
Copper clad steel (CCS) wires are steel wires covered with copper. These wires offer combined conductive properties of copper and high tensile strength of steel. The core material is low carbon steel and is used as the inner conductor of coaxial cables or as grounding wire. Copper clad steel wire can be manufactured or electroplated with tin, solder, gold, nickel, and silver. The applications of copper clad steel wire includes motors and magnetic assemblies, specialty resistors and capacitors, and intelligent temperature and pressure measuring instrumentations.
Market Dynamics:-
Copper clad steel wire market is predicted to exhibit significant growth rate over the forecast period (2019 to 2027). This is attributed to rising demand for copper clad steel wires from various end-use industries due to its advantages such as better corrosion resistance than steel, higher mechanical strength due to steel core, resistance against fatigue, and others.
In addition to this, growth of end-use industries such as telecommunications, power generation, building and construction, and automotive is a major driver for growth of the copper clad steel wire market in the near future. In telecommunications industry, copper clad wire is used to produce telephone drop wire, coaxial cable, CATV drop cable, etc.
According to India Brand Equity Foundation (IBEF)’s report published in March 2019, India is currently second largest telecommunications market across the globe with a subscriber base of 1.20 billion and registered strong growth in the previous few years. Furthermore, according to the same report, India ranks second in terms of total internet users worldwide with 604.21 million internet subscribers as of December 2018. This is likely to fuel demand for copper clad steel wire for application in the telecommunications industry, which in turn is expected to aid in growth of the global copper clad steel market revenue.
Market Outlook:-
Among end-use industry, building & construction and automotive segments accounted for around 50.0% of the global copper clad steel wire market in 2018 and this is owing to growth of these industries worldwide.
According to International Organization of Motor Vehicle Manufacturers (OICA), the global production of commercial vehicles and cars was 94.97 million units in 2016 and the production reached 95.63 million units in 2018. Growth in production of automobiles is expected to positively impact demand for copper clad steel wire from the automotive industry in the near future.
Key Players:-
Major players operating in the global copper clad steel wire market include Elecref Industries Inc., Copperhead Industries, LLC, Fisk Alloy Inc., LEONI Wire Inc., AFL, MWS Wire Industries, Inc., MWS Wire Industries, Inc. Kris-Tech Wire, Nehring Electrical Works Company, and American Wire Group, Inc.
Market Taxonomy:-
On the basis of product type, the global copper clad steel wire market is segmented into:
On the basis of end-use industry, the global copper clad steel wire market is segmented into:
On the basis of region, the global copper clad steel wire market is segmented into:
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