COPPER CLAD STEEL WIRE MARKET ANALYSIS

Market Challenges And Opportunities

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.