U.S.: Aluminum Insulated Wire Market 2024

Aluminum Insulated Wire Market Size in the U.S.

In 2023, after three years of growth, there was decline in the U.S. aluminum insulated wire market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Aluminum insulated wire consumption peaked at $X in 2022, and then reduced slightly in the following year.

Aluminum Insulated Wire Production in the U.S.

In value terms, aluminum insulated wire production shrank to $X in 2023. The total output value increased at an average annual rate of X% over the period from 2013 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Aluminum insulated wire production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

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Aluminum Insulated Wire Exports

Exports from the U.S.

In 2023, shipments abroad of aluminum insulated wire and cable decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, aluminum insulated wire exports declined to $X in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for aluminum insulated wire exports from the United States, with a X% share of total exports. Moreover, aluminum insulated wire exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold. The third position in this ranking was held by Israel (X tons), with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Israel (X% per year).

In value terms, Mexico ($X) remains the key foreign market for aluminum insulated wire and cable exports from the United States, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and the UK (X% per year).

Export Prices by Country

The average aluminum insulated wire export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminum Insulated Wire Imports

Imports into the U.S.

In 2023, supplies from abroad of aluminum insulated wire and cable decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, total imports indicated a buoyant increase from 2013 to 2023: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2022, and then contracted in the following year.

In value terms, aluminum insulated wire imports declined to $X in 2023. Over the period under review, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then contracted in the following year.

Imports by Country

In 2023, Canada (X tons) constituted the largest supplier of aluminum insulated wire to the United States, with a X% share of total imports. Moreover, aluminum insulated wire imports from Canada exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with an X% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Mexico (X% per year).

In value terms, Canada ($X) constituted the largest supplier of aluminum insulated wire and cable to the United States, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and India (X% per year).

Import Prices by Country

The average aluminum insulated wire import price stood at $X per ton in 2023, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform