Electrical and electronics are the largest consumers of copper magnet wire. Electrical and electronics are the largest end-use industries in the magnet wire market. These wires are used in various products in the electrical and electronic industries in the form of coils. For example, products such as fans, toys, trimmers, inverters, air conditioners, and other consumer electronics products use magnet wires as coils. The increase in the use of household appliances is the reason for the expansion of the magnet wire market in the electrical and electronic industry.
Copper magnet wire accounts for a major share of the magnet wire market. Copper is the most widely used type of magnet wire. Copper magnet wire has better conductivity and has excellent tensile strength. In addition, it also has excellent thermal shock resistance, moisture resistance, chemical resistance, and has a small cross-sectional area. This makes it suitable for the transportation and electrical and electronic industries.
Motor is the largest application field of magnet wire. The huge market size of magnet wires in motor applications is driven by the growth of the transportation industry. The consumption of magnet wires in motor applications is increasing rapidly in the automotive industry.