Application segments contribution to the growth of the global copper alloy wire market size

The global copper alloy wire market size is expected to grow at a CAGR of (3.36%) during the forecast period. Based on the application, the global copper alloy wire market has been segmented into electrical and electronics, construction, automotive, and others.

Copper alloy wires are widely used in electrical and electronic applications. The electrical and electronics industry is growing at a significant pace, owing to the rise in global demand for consumer and industrial electronics. Several factors are influencing the growth of the electrical and electronics industry. These include growing disposable income, the availability of low-cost electronic gadgets, and the increasing number of government initiatives for developing energy conservation technologies.

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Growing investments in the industry and the rising number of government initiatives across the world are significantly increasing the production of electrical and electronics products. Furthermore, the trend of miniaturization and the manufacturing of small electrical components and thin cables has increased the demand for copper alloy wires. Thus, with the growth of the electrical and electronics industry, the demand for copper alloy wires will increase substantially contributing to the growth of the global copper alloy wire market size during the forecast period.