Middle East & Africa Wire Rod Market

The Middle East & Africa wire rod market is expected to grow from US$ 49.51 million in 2022 to US$ 55.70 million by 2028. It is estimated to grow at a CAGR of 2.0% from 2022 to 2028. 

Evolving Telecommunication Industry is Fuelling Middle East & Africa Wire Rod Market  

From decades, the telecommunication industry is widely using copper for their communication purpose. Copper is the metal that has been utilized for communication wires and cables. As copper is a ductile material, having tensile strength, and a satisfactory conductor, it is widely used for communication purpose. Moreover, with evolving telecommunication industry, advanced material is used. Despite the roll out of optical fiber systems, copper is still used highly in infrastructure and interface devices. Such copper-based applications in telecommunication will endure to fuel the growth of copper in the future. Moreover, aluminum is gaining popularity in the telecommunication industry for applications such as base station, 5G equipment, and wired & wireless telecom equipment. As wire and cable in telecommunication is highly used, the demand for aluminum and copper wire rods is also high. This factor will, in turn, fuel the demand for wire rods. The adoption of 5G infrastructure is continuously increasing due to the growing smart cities, smart cars, and smart factories.  Growing 5G deployment is accelerating the growth of various industries, sectors, and governments by quickly and efficiently connecting organizations to every aspect of their business. In addition, ultra-fast 5G mmWave is creating new use cases for technologies such as AI through distributed computing and connected intelligent edge for immersive XR. Thus, the 5G technology is fueling digital transformations across the world by connecting people to their homes and cars and different businesses to their supply chains. Also, the growing of 5G network helps in increasing the adoption of robotics for various industrial purposes, which will subsequently increase the demand for wire rods to construct 5G infrastructure for uninterrupted communication and data transfer. Therefore, the growing demand for 5G is expected to create lucrative opportunities for the Middle East & Africa wire rod market during the forecast period.

Middle East & Africa Wire Rod Market Overview

The wire rod market in the Middle East and Africa (MEA) is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. In automobiles, wire rods are used to improve a vehicle's efficiency by providing an uninterrupted power supply and connectivity. The market growth in this region is attributed to the growing automotive industry, owing to the increasing vehicle production and sales in these countries. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) 2021 report, South Africa produced 304,340 passenger vehicle units in 2021. In addition, according to the Turkish Automotive Manufacturers Association (OSD), the total vehicle sales in Turkey increased from 38,131 units in January 2022 to 49,652 units in February 2022. Further, the adoption of EVs is rising across Saudi Arabia. According to the article published by the Arab News in March 2022, Saudi Arabia announced setting up its first EV manufacturing plant in the country as the government plans to ensure that 30% of all vehicles in Riyadh's capital city are expected to be electrically powered by 2030. After the setup of the plant, the country is likely to produce approximately 150,000 EVs annually. Such initiatives by the government are fueling the demand for wire rods in the MEA, which is further bolstering the Middle East & Africa wire rod market growth. 

Middle East & Africa Wire Rod Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Wire Rod Strategic Insights

Strategic insights for the Middle East & Africa Wire Rod provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Wire Rod Report Scope

Middle East & Africa Wire Rod Regional Insights

The geographic scope of the Middle East & Africa Wire Rod refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Middle East & Africa Wire Rod Market Segmentation 

The Middle East & Africa wire rod market is segmented into material, industry, and country.    

Based on material, the Middle East & Africa wire rod market is bifurcated into copper and aluminium. The copper segment held a larger share of the Middle East & Africa wire rod market in 2022.

Based on industry, the Middle East & Africa wire rod market is segmented into telecommunication, power, aviation, automotive, and others. The telecommunication segment held the largest share of the Middle East & Africa wire rod market in 2022.

Based on country, the Middle East & Africa wire rod market has been categorized into the UAE, Saudi Arabia, South Africa, and the rest of Middle East & Africa. Our regional analysis states that Saudi Arabia dominated the Middle East & Africa wire rod market in 2022.  

Alcoa Corp, APAR Industries Ltd, Elcowire Group AB, Hindalco Industries Ltd, Mitsubishi Materials Trading Corp, Norsk Hydro ASA, Sumitomo Electric Industries Ltd, United Co RUSAL Plc, Vedanta Aluminium and Power Ltd, and Vimetco NV are the leading companies operating in the Middle East & Africa wire rod market.