Press release
Magnet Wire Market By Type (Copper, Aluminum, Others),to reach USD 52.94 billion by 2030,registering a CAGR of 5.50%
Magnet wire is an aluminium (Al) or copper (Cu) wire which is coated with a very thin layer of insulation. It is used in the construction of transformers, hard disk head actuators, electromagnets, electric guitar pickups, inductors, motors, generators, speakers and other applications that need tight coils of insulated wire.View Detailed Analysis Report: https://www.databridgemarketresearch.com/reports/global-magnet-wire-market
Magnet wire is basically used in numerous end-use industries, which is a substantial factor in the growth for the market globally. The heat resistance, uniformity and degree of insulation, good electrical characteristics such as resistance to chemicals, varnishes, insulation resistance and dielectric strength and solvents, hydrolytic degradation and resistance to moisture and water are just a few of the major advantages that magnet wires can provide. Moreover, the demand for magnet wire applications will be driven by the rapid expansion of consumer electronics industry's during the forecast period.
Data Bridge Market Research analyses that the magnet wire market is expected to reach USD 52.94 billion by 2030, which is USD 34.49 billion in 2022, registering a CAGR of 5.50% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Some of the major players operating in the magnet wire market are:
Hitachi Metals Ltd. (Japan)
Sumitomo Electric Industries, Ltd. (Japan)
Furukawa Electric Co., Ltd. (Japan)
Fujikura Ltd. (Japan)
Sam Dong (South Korea)
LS Cable & System Ltd. (South Korea)
Tongling Jingda Special Magnet Wire Co., Ltd. (China)
Ningbo Jintian Copper (Group) Co., Ltd. (China)
IRCE S.p.A (Italy)
Von Roll (Switzerland)
Ewwa (Sweden)
Opportunities
Numerous benefits associated with magnet wire
Magnet wires' benefits include heat resistance, uniformity & degree of insulation, good electrical characteristics such as resistance to chemicals, varnishes & solvents, resistance to moisture & water, insulation resistance and dielectric strength and hydrolytic degradation. A notable demand for high-end electric and electronic products for residential and industrial purposes will favor industry growth. Moreover, swift development of the consumer electronics sector will create numerous opportunities for magnet wire market over the forecast period.
Global Magnet Wire Market Scope
The magnet wire market is segmented on the basis of type, product type, material shape, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Copper
Aluminium
Others
Product Type
Enamelled Wire
Covered Conductor Wire
Material
Polyamide-Imide (PAI)
Polyimides (PI)
Polyetherimide (PEI)
Others
Shape
Round Magnet Wire
Round Bondable Magnet Wire
Rectangle Magnet Wire
Square Magnet Wire
Application
Motor
Home Appliance
Transformer
Others
Distribution Channel
E-Commerce
Supermarkets/Hypermarkets
Specialty Stores
B2b/Third Party Distributors
Others
End-User
Electrical and Electronics
Industrial
Transportation
Energy
Automotive
Residential
Infrastructure
Others
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