India Aluminum Wire Rod Market Outlook - 2032
The India aluminum wire rod market size was valued at $3.3 billion in 2022 and is estimated to reach $4.6 billion by 2032, exhibiting a CAGR of 3.6% from 2023 to 2032.
Report Key Highlighters:
- More than 6,765 product literatures, industry releases, annual reports, and other such documents of major industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The India aluminum wire rod market report includes a detailed study covering underlying factors influencing the industry opportunities and trends
- The India aluminum wire rod market includes company profiles of 10 key players who are actively engaged in producing various India aluminum wire rods.
- List of raw material suppliers and potential buyers are also included in the report.
- Annual installed capacities of some of the major aluminum wire rods producers in India are also covered in the report.
COVID Impact Statement: Aluminum wire rods are often used to reinforce concrete structures. They improve the tensile strength of concrete, making it more durable and resistant to cracking. In the construction of bridges, buildings, and other infrastructure projects, aluminum wire rods are essential for reinforcing concrete elements. Also, aluminum is known for its lightweight nature.
Aluminum wire rod is a type of semi-finished aluminum product that is typically used as a raw material for various applications. It is produced through a process called continuous casting and rolling. Aluminum wire rod is typically produced by melting aluminum in a furnace and then casting it into a cylindrical shape through continuous casting. After casting, the rod is rolled through a series of rolling mills to reduce its diameter to the desired size. Aluminum wire rod is made from high-purity aluminum, which is typically alloyed with small amounts of other elements to improve its properties. These alloys can enhance the wire's strength, corrosion resistance, and other characteristics.
Surge in demand for aluminum wire rod from construction and automotive industries is boosting the India aluminum wire rod market growth.
India has been investing heavily in infrastructure development, including the construction of roads, bridges, airports, and public facilities. These projects require large quantities of aluminum wire rods for various applications, such as reinforcing concrete structures and electrical wiring. Government initiatives to provide affordable housing for all, such as the "Pradhan Mantri Awas Yojana," are driving the construction of affordable housing projects across the country. Besides, the growth of the Indian economy has led to increased demand for office spaces, shopping malls, and other commercial properties, driving construction activities in the commercial real estate sector. India's industrial and manufacturing sectors are expanding, leading to the construction of factories, warehouses, and industrial facilities. In addition, the construction of healthcare facilities, educational institutions, and research centers is on the rise to meet the growing demand for healthcare and education services.
Aluminum wire rods are commonly used to reinforce concrete structures in construction. They enhance the strength and durability of concrete, making it suitable for applications in both residential and commercial construction. Also, in construction, the use of aluminum wire rods can help reduce the weight of structures, leading to cost savings and improved energy efficiency. Lightweight construction is particularly important in high-rise buildings and transportation infrastructure.
Further, aluminum wire rods are used in the automotive industry for various applications due to their lightweight, corrosion-resistant, and conductive properties. Aluminum wire rods are used to manufacture wiring harnesses, which are essential for connecting electrical components in vehicles. The lightweight nature of aluminum helps reduce the overall weight of the vehicle, contributing to improved fuel efficiency and performance. Advancements in automotive manufacturing techniques, such as extrusion and forming, rely on high-quality aluminum wire rods. These advanced techniques allow automakers to create complex and lightweight structures that are increasingly prevalent in modern vehicle design. Aluminum wire rods are used in the construction of electric vehicle (EV) components, such as battery housings and structural components, which further drives the demand of aluminum wire rod in automotive sector.
However, fluctuations in aluminum prices are expected to act as a major restraint for market growth. Nevertheless, technological advancements are anticipated to offer many opportunities for market growth in the coming years. Innovations in recycling technologies are improving the efficiency and environmental friendliness of aluminum recycling. This ensures a consistent supply of aluminum as a raw material for producing wire rods. For instance, specialized surface coatings and treatments are being developed to enhance the corrosion resistance and adhesion properties of aluminum wire rods for specific applications. These coatings can improve the durability and performance of the rods in harsh environments. Also, aluminum wire rods are used in various industries for lightweighting purposes. Technological advancements in lightweight design, including in the automotive and aerospace sectors, create opportunities for the use of aluminum wire rods to meet weight reduction goals.
The India aluminum wire rod market scope is segmented on the basis of type and end-use industry. On the basis of type, the market is categorized into 1024 type, 2011 type, and others. On the basis of end-use industry, the market is categorized into aerospace, automotive, building and construction, and others. The India aluminum wire rod market share for the above mentioned segments are analysed in the report.
India aluminum wire rod market, by Type
On the basis of type, the others segment was the highest revenue contributor to the market in 2022. The other types of aluminum wire rods are 6061, 6063, 7075, 2024, 5052, 5083, 1100, and others. 6061 aluminum wire rod is a popular aluminum alloy with excellent strength and good corrosion resistance. It is often used in applications where moderate strength and workability are required, such as aerospace and automotive components. Besides, 6063 aluminum is known for its extrudability, making it suitable for applications such as architectural and structural extrusions, as well as automotive trim components.
Furthermore, 7075 is a high-strength aluminum alloy often used in aerospace and military applications due to its exceptional strength-to-weight ratio. It is commonly found in aircraft structural components. 2024 is another high-strength aluminum alloy used in aerospace and structural applications. It is valued for its fatigue resistance and is often found in aircraft components. 5052 aluminum wire rod offers good corrosion resistance and is used in applications like marine and automotive parts. In addition, 5083 aluminum wire rod is known for its excellent corrosion resistance and is commonly used in marine and underwater applications.
By Type
2011 Type is projected as the fastest-growing segment.
India aluminum wire rod market, by End-Use Industry
On the basis of end-use industry, the others segment was the highest revenue contributor to the market in 2022. The other end-use industries include manufacturing and industrial, marine and shipbuilding, telecommunications, packaging, electrical and electronics, renewable energy, etc.
Aluminum wire rod is used in a variety of sectors and applications due to its favorable properties, such as its lightweight nature, corrosion resistance, electrical conductivity, and recyclability. Aluminum wire rod is used in marine and shipbuilding applications, particularly for electrical and corrosion-resistant components. Aluminum is highly resistant to corrosion in marine environments, it can withstand exposure to saltwater. This property contributes to the durability and longevity of marine structures, to reduce maintenance costs and the need for frequent replacements. The offshore oil and gas industry relies on a variety of marine structures, which include oil rigs and offshore platforms, which incorporate aluminum components due to corrosion resistance and lightweight nature. The expansion of offshore activities can drive demand for aluminum wire rods.
By End-use Industry
Building And Construction is the fastest-growing segment.
Furthermore, aluminum wire rods are utilized in the telecommunications industry for manufacturing cables, wires, and connectors. In the renewable energy sector, aluminum wire rods are used in the construction of wind turbines and solar panel installations. Hence, the above-mentioned factors are projected to propel others segment in coming years.
Major players operating in the India aluminum wire rod industry are Hind Aluminum Industries Ltd., Nalco India Limited, Vedanta, Hindalco Industries Ltd, Cabcon India Pvt. Ltd., Savariya Metal, Kedar Udyog, Arfin India Limited, Palriwal Industries Pvt. Ltd., and Inox Steel India.
Other players in the market include Sampat Aluminium Pvt. Ltd., Pooja Wire Industries, Perfect Insulation, Trishul Wire Products, Navkar Aluminium Devi Dayal Wire & Strip Corp., Rajat Udyog, JDS Transformer Ind. Private Limited, and Jagdish Metal.
Key Strategic Developments Undertaken by Key Players
- In October 2023, Vedanta Limited launched advanced wire rods for the power and transmission industry. The company launched new products namely T4, AL59, and the 8xxx series. The T4 alloy rod offers customers the advantages of low-sag high strength, high drawability, and enhanced durability. In addition, the AL59 alloy rod offers a higher strength-to-weight ratio, superior power evacuation, and a significantly higher current carrying capacity. Further, the 8xxx series of wire rods offers exceptional anti-corrosion properties, making it of immense value to the construction, transportation, and architectural sectors. This development strengthens company ties further as a reliable partner for the power and transmission industry.
- In august 2021, Hindalco Industries Ltd. invested around $1,055.52 to $1,319.40 million in Hirakud, Silvassa and Mundra plants. This investment helped to expand flat rolling production capacity at Hirakud, Odisha plant and the new extrusion plant at Silvassa in Dadra and Nagar Haveli.
Key benefits for stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current India aluminum wire rod market trends and future estimations from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
India Aluminum Wire Rod Market Report Highlights
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Analyst Review
According to the opinions of various CXOs of leading companies, the India aluminum wire rod market is expected to witness increased demand during the forecast period. Government investments in infrastructure projects, such as construction of roads, bridges, and buildings, are driving the demand for aluminum wire rods. These rods are used in reinforced concrete and structural elements. Besides, aluminum wire rods are used in various manufacturing industries, including automotive, aerospace, and machinery. The growth of these industries can increase the consumption of aluminum wire rods for producing mechanical components.
Furthermore, technological advancements are driving innovation and improvements in the production and application of aluminum wire rods. These advancements are leading to better quality, efficiency, and cost-effectiveness in the aluminum wire rod industry. For instance, continuous casting and rolling technologies have seen significant improvements. Advanced control systems and automation have enhanced the quality and consistency of aluminum wire rods. These processes can produce wire rods with better surface finish and mechanical properties. In addition, advances in materials science and metallurgy have led to the development of new aluminum alloys for wire rod production. These alloys can offer improved strength, conductivity, and corrosion resistance, making them suitable for a wider range of applications.
The 2011 type is the leading type of the India aluminum wire rod Market.
The building and construction industry is the leading end-use industry of the India aluminum wire rod Market.
The India aluminum wire rod market was valued at $3.3 billion in 2022 and is estimated to reach $4.6 billion by 2032, exhibiting a CAGR of 3.6% from 2023 to 2032.
Rise in demand for aluminum wire rod from building and construction industry is the key driver of the India aluminum wire rod Market.
Key players in the aluminum wire rod industry include Hind Aluminum Industries Ltd., Nalco India Limited, Vedanta, Hindalco Industries Ltd, Cabcon India Pvt. Ltd., Savariya Metal, Kedar Udyog, Arfin India Limited, Palriwal Industries Pvt. Ltd., and Inox Steel India.
The India aluminum wire rod market is segmented on the basis of type and end-use industry. On the basis of type, the market is categorized into 1024 type, 2011 type, and others. On the basis of end-use industry, the market is categorized into aerospace, automotive, building and construction, and others.
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