A magnet wire can be described as a wire, made from aluminum or copper that is coated with a tiny layer of insulation. The copper magnet wire and aluminum magnet wire varieties are currently being used in creation of transformers, motors, reactors, electromagnets, etc. Most applications requiring insulated wire in tight coils are likely to feature magnet wires. While aluminum is largely restricted to transformer wiring or motor winding wire, magnetic copper wire is the more popular version. Thus, the Magnet Wire Market is well-positioned to register a strong amount of growth during the forecast period of 2016-2021.
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Scope & Regional Forecast of the Magnet Wire Market
The Magnet Wire Market considers the prime growth drivers to be a few factors like: growing availability of electricity in rural parts of emerging countries like India; rising usage of generators or motors during power-cuts; technological advancements made by wire manufacturers in the form of growing electrical efficiency; and rising sales of automotive products.
Many a magnet wire supplier expects North America’s usage of aluminum wiring for transformer purposes to keep rising. At the other end of the world, Asia-Pacific is expected to drive the demand for copper magnetic wire and register highest demand growth rate during the forecast period. Other technical improvements have also made copper wires more attractive than their aluminum counterparts. Copper wires consume lesser space and enable superior conductivity.
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Segmentations & Key Players Involved in the Magnet Wire Market
The Magnet Wire Market can be broken down into various segments as follows:
Geographical Location: North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and Latin America, Middle and Africa.
Type: Copper Magnet Wire and Aluminum Magnet Wire.
Application: Motors, Transformers, Home Appliance and Reactor.
Some of the key players involved in the Magnet Wire Market are as follows:
- Tongling Copper Crown Electrical
- Ronsen Super Micro-Wire
- Shenmao Magnet Wire and GOLD CUP ELECTRIC
- Tianjin Jing Wei Electric Wire
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