Market Challenges And Opportunities

Drivers:

Copper has excellent resistance to corrosion, heat transfer strength, and higher conductivity than aluminum and is more ductile with relative high tensile resistance which can help to drive the single core copper wire market growth. Furthermore, copper requires less maintenance as well as it is more durable than other metal which can also drive the market growth.

Rising demand of copper wires in the automotive industry and increased the electricity consumption can drive the market growth. For instance, in June 2020, the world’s largest supplier of cables, ‘The Prysmian Group’ (an Italian company) is growing its range with the network cable Draka UC400 23 Cat which is highly lightweight and flexible to use and it is mainly used for building as well as public sector such as school, hospitals, etc.

Market Restraints

High cost of copper wire in the market and increased the use of fiber optic cable can restrain the market growth. Lack of armour, single core wire is more exposed to damage from external forces which can hamper the market growth. Moreover, copper wire is its susceptibility to corrosion, that is, oxidation which can restraint the market growth.

Single Core Copper Wire Market Report Snapshots