Italy's aluminium wire imports to grow 7.8% YOY supported by rising cable demand

According to a recent market research report, the global low voltage cable market by overhead (conductors, fittings & fixtures, others), by underground (PVC cables, XLPE cables, cable transmission, cable joints, and others), by end user and by region is estimated to reach US$147.3 billion by 2020, growing at a compound annual growth rate of 7.0 per cent during 2015-2020. The growth will drive demand for aluminium wires that are fast replacing and/or being used along with copper and silver wires in cables, in major cities across the globe. Italy being home to some of the world's biggest low voltage cable manufacturers such as Prysmian S.P.A, is expected to witness a surge in import of aluminium wires.

{newsStudioGallery}

If we look at the year-over-year imports of aluminium wire by Italy we can a see fairly steady trend with a moderate rise in 2016. The European country imported 48,258 tonnes and 48,693.5 tonnes of aluminium wires in 2014 and 2015 respectively. In 2016, the volume increased 11.02 per cent from the previous year to reach 54,062.4 tonnes. In 2017, till October, Italy is estimated to import a total volume of 48,523 tonnes of aluminium wire, an increase of 7.8 per cent from the corresponding period previous year, and up 14.8 per cent from the same period in 2015.

Value-wise, global depreciation of Euro against U.S. dollar has resulted in lesser value of imports in Italy. The total aluminium wire imports were valued at US$131.01 million in 2014, which declined to reach US$126.78 million in 2015. In 2016, the total aluminium wire import value in Italy held at US$127.7 million. The value of imports of this particular aluminium semi-finished product category is expected to remain almost unchanged in 2017 as well. Till October, aluminium wire imports are to be valued at US$117.2 million (estimated).

In 2014, Asia-Pacific dominated the global low voltage cable & accessories market, and accounted for about 40 per cent the total market. The increasing industrialization and urbanization in Asia-Pacific is a major factor for the growth of the low voltage cable & accessories market in this region. The major countries contributing to the growth of the global cable & accessories market are China, U.S., India, Germany, U.K., Brazil, Canada, Saudi Arabia, South Africa, and Japan.

{googleAdsense}

As per latest studies, companies clustered in Europe as well as in other parts of the world are attempting to benefit from the potential in the emerging economies of Asia-Pacific through integration strategies such as mergers & acquisitions, joint-ventures, and partnerships & collaborations.