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The global aluminium wire market has witnessed growth at a steady rate over the recent years. The market is primarily driven by the rising demand in the rapid urbanization around the world, the increased support from governments, as well as the new production techniques that reduce not only the cost of aluminium wire production but also significantly reduce the processing time of the wire rods. As the consumption of aluminium wires in various industries still remains high, business opportunities in the global aluminium market are expected to flourish further in the near future.
Aluminium (Al) is one of the most common metal elements. In fact, it is the third most abundant element (after oxygen and silicon) that makes up about 8% by weight of the Earth’s crust. Aluminium is one of the most electrically conductive metals and highly resistant to ordinary corrosion. With other characteristics such as lightweight, strength, and low cost to produce, aluminium has become one of the most popular materials for electrical applications. Aluminium wire is nowadays increasingly popular for electrical wiring and in utility grid transmission and distribution networks, and are widely used for wiring in various of industries including electronics, construction, aircraft etc.
Copper wire has long been the most widely used wire material in the wire and cable industry. However, aluminium is catching up quickly as the world’s best substitute for copper in the electrical equipment industry. Aluminum is not only a great electricity-conducting metal but also more economical than copper. Over the past decades, the difference in price between copper and aluminium metal has increased to more than sixfold. More and more manufacturers are now using aluminium as the best choice for electrical wires. With the rise in copper wire prices in the market, aluminium is set to replace over 50% of used copper wires for industries such as automobiles, wiring and construction, and commercial appliances.
According to the latest report from Technavio, the global aluminium wire market is expected to grow at a CAGR of almost 2% through 2021. Some of the driving factors in the market are increasing demand for aluminium wire rods for power engineering, upgrading of existing transmission and distribution networks, increased government support across countries, and increased infrastructure investments and competitive edge that aluminium wire rods hold over electrical wiring substitutes. Some of the top aluminium wire manufacturers in the market are – HongFan Holdings, Norsk Hydro, RUSAL, Vedanta Resources and Vimetco.
Over the recent decades, Bahrain has emerged to become a world’s leading aluminium wire market with some staggering growth in its aluminium wire production and aluminium wire export. The market growth in Bahrain is mainly driven by the fast development of the building and construction sector, which poises huge demand for electrical applications made of aluminium products like rod, wire, cable, and conductor. Since the leading aluminium producers in Bahrain are focusing on value-added products and developing profitable downstream sectors, Bahrain’s production and export of aluminium wires are expected to grow over the next few years.
Grow your business network, connect with top aluminium wire manufacturers in Bahrain
According to recent figures from ITC (International Trade Centre), Bahrain exported about US$ 699.6 million worth or equivalent of 688.3 million tonnes of aluminium wire to the global market in 2016, representing over 20% of the world’s total aluminium wire exports in that year, making Bahrain once again the world’s largest aluminium wire exporter. Bahrain exported most of its domestically produced aluminium wires to the USA and Middle East countries including the Saudi Arabia, Algeria, UAE, and Egypt in 2016.
The prominence of the aluminium wire market in Bahrain has attracted a significant number of buyers and traders from all over the world. To help your electrical appliance business stays at the top of the industry, BizVibe provides the best solutions to source the products and make the best business deals with the top aluminium wire manufacturers in Bahrain. Don’t miss your chance to connect with the best industry suppliers, manufacturers, and companies on BizVibe.
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Bahrain’s top aluminium wire manufacturers on BizVibe: