At 3.5% CAGR, the South & Central America Iron Chromium Aluminum Alloy Wire Market is projected to be worth US$ 12.47 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America iron chromium aluminum alloy wire market was valued at US$ 10.17 million in 2022 and is expected to reach US$ 12.47 million by 2028, registering a CAGR of 3.5% 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 South & Central America iron chromium aluminum alloy wire market expansion.        

In the electronics industry, iron chromium aluminum alloy wires are used for irons, ovens, toasters, frying utensils, deep fryers, rice cookers, coffee makers, water heaters, soldering irons, stationary hair dryers, laundry dryers, instantaneous water heaters, and many other products. The electronics industry is growing in various countries of region due to the increasing demand for different electronic products. Hence, the strong growth of the electronics industry in region is expected to offer lucrative opportunities for the South & Central America iron chromium aluminum alloy wire market during the forecast period.

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

Based on application, the South & Central 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 49.5% share of South & Central America Iron Chromium Aluminum Alloy Wire Market in 2022, amassing US$ 5.04 million. It is projected to garner US$ 6.30 million by 2028 to expand at 3.8% CAGR during 2022–2028.

Based on country, the South & Central America iron chromium aluminum alloy wire market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 47.6% share of South & Central America Iron Chromium Aluminum Alloy Wire Market in 2022. It was assessed at US$ 4.84 million in 2022 and is likely to hit US$ 6.04 million by 2028, exhibiting a CAGR of 3.7% during the forecast period.      

Key players dominating the South & Central America iron chromium aluminum alloy wire market are Changzhou DLX Alloy Co Ltd; Donghai Electric Appliance Co Ltd; Jiangsu Nickel alloy Co Ltd; JLC Electromet Pvt Ltd; and Kanthal AB, among others.

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