At 4.6% CAGR, the North America Iron Chromium Aluminum Alloy Wire Market is projected to be worth US$ 118.59 million by 2028, says Business Market Insights

According to Business Market Insights research, the North America iron chromium aluminum alloy wire market was valued at US$ 90.58 million in 2022 and is expected to reach US$ 118.59 million by 2028, registering a CAGR of 4.6% from 2022 to 2028. Growing use of iron chromium aluminum alloy wires in industrial furnaces and various advantages of iron chromium aluminum alloy wires are the critical factors attributed to the North America iron chromium aluminum alloy wire market expansion.

Iron chromium aluminum alloy wires have a larger operation temperature. Iron chromium aluminum alloy can attain a maximum service temperature up to 1,400°C or 2,550°F. Iron chromium aluminum alloy wires have a long service life and large surface load-bearing capacity. The wires have superior oxidation resistance. Iron chromium aluminum alloys have lower density than nickel-chromium alloys. It refers to the availability of equivalent elements that can be produced from the same weight material. Iron chromium aluminum alloy wires have higher electric resistivity. The wires also have a lower thermal expansion coefficient than the nickel-base super-alloys. Due to all these advantages, iron chromium aluminum alloy wires are highly used for heating elements in the electrical industry and a wide range of high-temperature oxidation environments such as industrial electric furnaces, heating furnaces, nuclear reactors, petroleum refineries, automotive exhaust systems, household electrical appliances, and infrared settings. Therefore, the advantages of iron chromium aluminum alloy wires fuel the North America iron chromium aluminum alloy wire market growth.

On the contrary, volatility in prices of raw materials hampers the North America Iron Chromium Aluminum Alloy Wire Market.  

Based on application, the North America iron chromium aluminum alloy wire market is segmented into electronic appliances, aerospace, industrial furnaces, metallurgical and machinery, and others. The industrial furnaces segment held 33.1% share of North America Iron Chromium Aluminum Alloy Wire Market in 2022, amassing US$ 30.02 million. It is projected to garner US$ 39.66 million by 2028 to expand at 4.7% CAGR during 2022–2028.

Based on country, the North America iron chromium aluminum alloy wire market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 86.9% share of North America Iron Chromium Aluminum Alloy Wire Market in 2022. It was assessed at US$ 78.73 million in 2022 and is likely to hit US$ 103.54 million by 2028, exhibiting a CAGR of 4.7% during the forecast period.      

Key players dominating the North America iron chromium aluminum alloy wire market are Changzhou DLX Alloy Co Ltd; Donghai Electric Appliance Co Ltd; Hyndman Industrial Products Inc; Jiangsu Nickel alloy Co Ltd; JLC Electromet Pvt Ltd; Kanthal AB; Oceania International LLC; Suzhou Nickel Alloy Co Ltd; and Temco Industrial LLC, among others.

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