Aluminium wire rod consumption: Key trends and global growth drivers

Global aluminium wire rod consumption has risen steadily across the world. Aluminium's unique properties make it a key material in the electrical and electronics industries, enabling a wide range of applications. The global wire and cable market, valued at US$ 191.6 billion in 2022, is anticipated to expand at a compound annual growth rate (CAGR) of 6.3 per cent between 2023 and 2032.

The global aluminium wire rod market was valued at $22.6 billion in 2023 based on consumption and regional trade flow. It is anticipated to grow at a CAGR of 3.7 per cent from 2024 to 2030. The increasing demand from the power, automotive, and aerospace sectors is a substantial factor driving this market.