Iron Chromium Aluminum Alloy Wire Market Share and Forecast by 2028
Historic Data: 2020-2021 | Base Year: 2022 | Forecast Period: 2023-2028Iron Chromium Aluminum Alloy Wire Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application (Electronic Appliances, Aerospace, Industrial Furnaces, Metallurgical and Machinery, and Others)
- Report Date : Mar 2023
- Report Code : TIPRE00029845
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 112
[Research Report] The iron chromium aluminum alloy wire market size is expected to grow from US$ 380.47 million in 2022 to US$ 509.61 million by 2028; it is estimated to register a CAGR of 5.0% from 2022 to 2028.
An iron-chrome-aluminum (FeCrAl) resistance alloy wire is developed with the change in the composition of chromium and aluminum elements. It offers excellent anti-oxidization, anti-sulfur, and anti-cementite properties. It also provides the benefits such as, high surface load, high electric resistivity, high application temperature, prolonged life service, and affordability. These wires are used as heating elements in the metal industry in processing such as melting and holding. Iron-chromium-aluminum (FeCrAl) alloy wires have higher service temperatures than nickel-chromium alloys. FeCrAl wires are an economical material for furnace applications because of their lower cost and longer service life.
Iron chromium aluminum alloy wires have a higher operating temperature. Iron chromium aluminum alloy can attain a maximum service temperature of 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 a 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 global iron chromium aluminum alloy wire market growth.
In 2022, Asia Pacific held the largest share of the iron chromium aluminum alloy wire market and is estimated to register the highest CAGR during the forecast period. The companies in the region are continuously enhancing the overall business processes to meet customer demand for high-quality products and services in the best possible way.
Customize This Report To Suit Your Requirement
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Iron Chromium Aluminum Alloy Wire Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Iron Chromium Aluminum Alloy Wire Market: Strategic Insights
- Get Top Key Market Trends of this report.This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Impact of COVID-19 Pandemic on Iron Chromium Aluminum Alloy Wire Market
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). The crisis disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. Further, the international travel bans imposed by various governments in Europe, Asia Pacific, and North America forced several companies to discontinue their collaboration and partnership plans. All these factors hampered the chemicals & materials industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the iron chromium aluminum alloy wire market.
Before the COVID-19 outbreak, the iron chromium aluminum alloy wire market was mainly driven by the rising demand from industrial furnaces. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic disrupted the supply chain of key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. Such factors reduced the production glass, and ceramics, where industrial furnaces are highly utilized.
Market Insights
Strategic Developments by Key Players Favor Iron Chromium Aluminum Alloy Wire Market Growth
Key players in the market are engaged in adopting various marketing strategies such as product launches, mergers & acquisitions, and collaborations. Such strategic developments by key players in the market are expected to fuel the growth of the iron chromium aluminum alloy wire market.
Application Insights
Based on application, the iron chromium aluminum alloy wire market is segmented into electronic appliances, aerospace, industrial furnaces, metallurgical and machinery, and others. The industrial furnaces segment held the largest market share in 2022 due to the growth of industrial activities.
Smith Therm Pvt. Ltd.; JLC Electromet Pvt. Ltd.; Changzhou DLX Alloy Co., Ltd.; Kanthal AB; Suzhou Nickel Alloy Co., Ltd; Oceania International LLC; Hyndman Industrial Products; Donghai Electric Appliance Co., Ltd.; Jiangsu Nickel alloy Co., Ltd; and Temco Industrial LLC are among the major players operating in the iron chromium aluminum alloy wire market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.
Iron Chromium Aluminum Alloy Wire Market Regional Insights
The regional trends and factors influencing the Iron Chromium Aluminum Alloy Wire Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Iron Chromium Aluminum Alloy Wire Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Iron Chromium Aluminum Alloy Wire Market
Iron Chromium Aluminum Alloy Wire Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 380.47 Million |
| Market Size by 2028 | US$ 509.61 Million |
| Global CAGR (2022 - 2028) | 5.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Iron Chromium Aluminum Alloy Wire Market Players Density: Understanding Its Impact on Business Dynamics
The Iron Chromium Aluminum Alloy Wire Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Iron Chromium Aluminum Alloy Wire Market are:
- Smith Therm Pvt. Ltd.
- JLC Electromet Pvt. Ltd.
- Changzhou DLX Alloy Co., Ltd.
- Kanthal AB
- Suzhou Nickel Alloy Co., Ltd
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Iron Chromium Aluminum Alloy Wire Market top key players overview
Report Spotlights
- Progressive industry trends in the iron chromium aluminum alloy wire market to help companies develop effective long-term strategies
- Business growth strategies adopted by the iron chromium aluminum alloy wire market players in developed and developing countries
- Quantitative analysis of the market from 2020 to 2028
- Estimation of global demand for iron chromium aluminum alloy wire
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the iron chromium aluminum alloy wire market
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the iron chromium aluminum alloy wire market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the iron chromium aluminum alloy wire market at various nodes
- Detailed overview and segmentation of the market and growth dynamics of the iron chromium aluminum alloy wire industry
- Size of the iron chromium aluminum alloy wire market in various regions with promising growth opportunities
Frequently Asked Questions
Based on application, which segment held the fastest CAGR in the global iron chromium aluminum alloy wire market?
The electronic appliances segment is estimated to register the fastest CAGR in the global iron chromium aluminum alloy wire market over the forecast period. Iron chromium aluminum alloy wire heating elements are widely used in home appliances. The growing demand for different electronic appliances is driving the iron chromium aluminum alloy wire market growth for the electronic appliances segment.
Can you list some of the major players operating in the global iron chromium aluminum alloy wire market?
Major players operating in the global iron chromium aluminum alloy wire market include Smith Therm Pvt. Ltd.; JLC Electromet Pvt. Ltd.; Changzhou DLX Alloy Co., Ltd.; Kanthal AB; Suzhou Nickel Alloy Co., Ltd; Oceania International LLC; Hyndman Industrial Products; Donghai Electric Appliance Co., Ltd.; Jiangsu Nickel alloy Co., Ltd.; and TEMCO INDUSTRIAL.
What are the key factors influencing market growth?
The global iron chromium aluminum alloy wire market is primarily driven by the growing use of iron chromium aluminum alloy wire in industrial furnaces and various advantages of iron chromium aluminum alloy wires.
Based on application, which segment is expected to dominate the global iron chromium aluminum alloy wire market during the forecast period?
The industrial furnaces segment held the largest share of the global iron chromium aluminum alloy wire market in 2022. Industrial furnaces highly use FeCrAl wires for heat treatment. Industrial furnaces are widely utilized in the glass, ceramic, clay, oil & gas industry.
Which region held the largest share of the global iron chromium aluminum alloy wire market?
In 2022, Asia Pacific held the largest share of the global iron chromium aluminum alloy wire market. In Asia Pacific, growth of the electronics, aerospace, metallurgy, and other industries is aiding the demand growth of iron chromium aluminum alloy wires.
Which region held the fastest CAGR in the global iron chromium aluminum alloy wire market?
Asia Pacific is estimated to register the fastest CAGR in the global iron chromium aluminum alloy wire market over the forecast period. The region is witnessing rapid industrialization, which is resulting in an upsurge in the consumption of industrial furnaces, driving the demand for iron chromium aluminum alloy wires.
Market Research & Consulting
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Testimonials
I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.
DR CHIJIOKE ONYIA MANAGING DIRECTOR, PineCrest Healthcare Ltd.
The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services
YUKIHIKO ADACHI CEO, Deep Blue, LLC.
We worked with The Insight Partners for an important market study and forecast. They gave us clear insights into opportunities and risks, which helped shape our plans. Their research was easy to use and based on solid data. It helped us make smart, confident decisions. We highly recommend them.
PIYUSH NAGPAL Sr. Vice President, Market Research
The research report delivered details on drivers and restraints, trends, and opportunities, along with strategic activities in the market. Previously, we were struggling to get reliable information.
Manager Medical Devices ManufacturingReason to Buy
- Informed Decision-Making
- Understanding Market Dynamics
- Competitive Analysis
- Identifying Emerging Markets
- Customer Insights
- Market Forecasts
- Risk Mitigation
- Boosting Operational Efficiency
- Strategic Planning
- Investment Justification
- Tracking Industry Innovations
- Aligning with Regulatory Trends
Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.
Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.
Once your order is successfully placed, you will receive a confirmation email along with your invoice.
• For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
• For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.
We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.
The report is available in either PDF format or as an Excel dataset, depending on the license you choose.
The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
Please review the license options at checkout or contact us to confirm which formats are included with your purchase.
Our payment process is fully secure and PCI-DSS compliant.
We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
You can make your purchase with confidence, knowing your personal and financial information is safe with us.
Yes, we do offer special pricing for bulk purchases.
If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.
Yes, absolutely.
Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.
Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.
Yes, certainly.
If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.
The List of Companies - Iron Chromium Aluminum Alloy Wire Market
- Smith Therm Pvt. Ltd.
- JLC Electromet Pvt. Ltd.
- Changzhou DLX Alloy Co., Ltd.
- Kanthal AB
- Suzhou Nickel Alloy Co., Ltd
- Oceania International LLC
- Hyndman Industrial Products
- Donghai Electric Appliance Co., Ltd.
- Jiangsu Nickel alloy Co., Ltd.
- Temco Industrial LLC
Get Free Sample For