Rectangular Enameled Wire Market

Market Overview

The Global Rectangular Enameled Wire Market size will significantly grow at a CAGR of 7.6% by forecast period.

Enamelled rectangular copper wires are used in low- and medium-voltage electrical equipment like motors, generators, and transformers. These lines have a cross section between 3.0 and 75.0 square millimetres, and their insulation class varies from 105 to 220 degrees Celsius. A sort of magnet wire called rectangular enameled wire is employed in many different electrical uses, such as motors, transformers, and generators. Rectangular enameled wire has a rectangle cross-section in contrast to round enameled wire, which has a spherical cross-section.

Enamelled wire with a rectangular cross-section is created by drawing copper or aluminium wire through a succession of dies. After that, the wire is covered with a coating insulation, which is typically constructed from a polymer substance like polyurethane, polyester, or polyamide. Along with supplying electrical insulation, the enamel insulation aids in shielding the wire from corrosive and abrasive elements.

Over round enameled wire, It has a number of benefits. In a generator or transformer, for instance, rectangular wire may be coiled more closely, which can boost performance and decrease size. The performance of high-power applications may be enhanced by the fact that rectangular wire can transport more current than round wire of the same dimension.

The demand for high-efficiency motors and transformers, as well as the development of sustainable energy sources like wind and solar power, are some of the reasons driving the market for rectangular enameled wire. Rectangular coated wire can increase effectiveness and lower energy usage in these uses.

Rectangular enameled wire has a very crowded market, with many vendors and makers competing for customers. Superior Essex, Rea Magnet Wire, Elektrisola, LS Cable & System, and Sumitomo Electric Industries are a few of the major participants in the industry.

Market Dynamics

Market Drivers

• The expansion of green energy sources

The expansion of green energy sources will Rectangular Enameled Wire Market will boost the market demand due to the expansion of the car industry, the rising demand for electrical devices, and the rising demand for high-efficiency motors and transformers. Increasing demand for high-performance electrical devices, the need for greater energy efficiency, and the creation of new materials and technologies are some additional factors. In the upcoming years, the demand for rectangle enameled wire is expected to rise in recognition of the development of these sectors and trends.

Market Restraints

• copper and aluminium price fluctuation

Market restraint for the Rectangular enameled wire will be change in price of copper and aluminium. both of which fluctuate in price will put negative impact. The market's development may be constrained by this volatility, which may also have an impact on producers' revenue, which will hamper the market demand.

• Harmful to the environment due to which producer may face problems

It is produced using risky chemicals, including acids and polymers, which can be harmful to the environment. Rectangular enameled wire demand is closely correlated with overall economic health, especially in industries like building and the automobile. As environmental rules become stricter, producers may experience higher compliance costs and output constraints. Economic downturns may result in less desire for electrical devices, which might restrain market expansion.

Market Opportunity

• Future demand expected to expand

In the upcoming years, the market for rectangular enameled wire is expected to expand as a result of rising demand for high-performance electrical devices and the expansion of green energy sources. Rectangular enameled wire manufacturers are anticipated to continue developing new materials and technologies as they search for methods to boost efficiency and cut costs, which will be good opportunity to grow the market.

Market Scope

Segmental Analysis

Segment by Types

• Enameled Copper Wire

Enameled copper wire is its excellent electrical conductivity and high temperature resistance, making it ideal for use in high-performance applications such as motors, transformers, and generators.

• Enameled Aluminium Wire

Enameled aluminium wire is made by coating an aluminium wire with a layer of insulation, it is made of polyester or polyurethane.

Segment by Application

• Automotive

It is used in different parts of an automobile, including power windows, seats, and mirrors, as well as in the sensors and actuators of the engine management system.

• Electric Devices

It is used in many electronic devices, such as computers, printers, and audio equipment.

• Engines

It is used in the stator and rotor windings of various types of engines

• Generators

It is used in the stator and rotor windings of different types of generators.

• Transformers

Regional Analysis

The Global Rectangular Enameled Wire Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

North America

From 2021 to 2028, market development is anticipated in the automotive magnet wire sector. According to studies, the market will expand at a CAGR of 3.2% from 2021 to 2028. One of the main drivers of market expansion is the rise in demand for magnet wire in the automobile industry.

The automotive and aerospace industries in North America are among the biggest in the globe. The demand for enameled wires in the area is being driven by the rising use of electric and hybrid cars. Similar to this, the market is expanding due to the rising demand for lightweight, high-performance airplanes. The demand for enameled wires in the electronics business is being boosted by the rising use of electronic devices like cell phones, laptops, and tablets. Enamelled wires are extensively used in the telecoms sector to create cables and wires.

The demand for enameled wires in North America is also being driven by the rising use of green energy sources like wind and solar power. Wires are utilized in the production of machinery and transformers used in these industries.

Asia Pacific

• Rising demand for enameled wires across numerous industries

Over the forecast period, the Asian market for rectangular enameled wire is anticipated to expand significantly. The market is mainly being propelled by the rising demand for enameled wires across numerous industries, including telecommunications, electronics, and the automotive. Some of the world's biggest electronics and automotive industries are found in Asia. The demand for enameled wires in the area is being driven by the rising use of electric and hybrid cars. In a similar vein, the market is expanding due to the rising demand for consumer devices like smartphones, laptops, and TVs.

• Adoption of 5G technology and the expansion

The adoption of 5G technology and the expansion of high-speed data networks in the telecoms sector are driving up demand for enameled wires as the Asia-Pacific region's (APAC) adoption of 5G networks has been mainly uneven. While some nations, like South Korea, Taiwan, Japan, and China, appear to be leading the way with their 5G rollouts, others, like India, Indonesia, Pakistan, and Vietnam, seem to be falling behind.

Europe

Enamelled wire demand is being driven by the car industry's growing use of electric and hybrid vehicles. Electric motors and other parts for these cars are made with the help of the wires. The market expansion in the electronics sector is being driven by the rising demand for consumer electronics like smartphones, laptops, and TVs also the rectangular enameled wire is used in the manufacturing of various components used in aircraft and spacecraft which boosting the market.

Key Players

1. Sumitomo Electric
2. Superior Essex
3. Elektrisola
4. REA
5. Hitachi Metals
6. LWW Group
7. Fujikura
8. IRCE
9. Synflex Group
10. De Angelli
11. Ederfil Becker
12. Acebsa
13. ZML
14. Jingda
15. Guancheng Datong
16. Jintian
17. Infore Environment Technology
18. APWC
19. TAI-I
20. Jung Shing
21. PEWC

Recent Developments

In February 2023-Sumitomo Chemical, Maruzen Petrochemical and Mitsui Chemicals to Study the Feasibility of Collaborating at Japan's Keiyo Coastal Industrial Complex with Aim of Achieving Carbon Neutrality.