Wire Extrusion Machine Market: Introduction
Wire Extrusion Machine is also known as wire drawing machine. Extrusion is a process used for the creation of fixed cross-sectional profiles. Materials, such as metal, plastic or thermoplastic, are pressed through a die of desired shape and cross-section. Wire extrusion is a manufacturing process using which high volumes of wire is manufactured from wire extrusion machine. Wire extrusion machine is capable to manufacture various type of wires with wide range diameter and size.
The prominent advantage of the wire extrusion process is that the wire can be given any diameter without the appearance of any cracks or imperfections. That apart, the process also helps in reducing labor cost and time with excellent surface finish.
The wire extrusion machine contains a barrel and screw, heaters, die and screw drives. The wire extrusion machine works on the application of two conditions pressure. Additionally, the mixing action of the plastic/metal compound through the shearing action is facilitated by the extruder screw. The wire extrusion process is used for the manufacturing of electrical and communication wire cables in the global market.
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Wire Extrusion Machine Market: Dynamics
Wire extrusion machine market is projected to gain traction in the market over the forecast period owing to significant drivers, such as significant innovation processing technologies and introduction of new and high strength products in the global market. However, there are other factors which are also expected to drive the demand for wire extrusion machines, such as the growing industrialization and manufacturing sector in emerging and developed regions, which in turn increasing the demand for wire & cables in various end use applications.
Moreover, growing consumer consciousness about environment-friendly equipment and other benefits such as reducing labor cost and high strength & quality products are some other factor that fuel the growth of wire extrusion machine market. Manufacturers have strong opportunity to introduce cost efficient & high-performance products. Currently, major manufacturers in the wire extrusion machine market which have extensive presence globally dominate the market with their extensive distribution network along with their innovative product portfolio, which is a key driving factor for the growth of the global wire extrusion machine market.
Furthermore, in developing countries such as India, Mexico, the trend for electrification is on its boom, which propel the demand for wire & cables and indirectly affect the growth of wire extrusion machine market.
Wire Extrusion Machine Market: Segmentation
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Wire Extrusion Machine Market: Regional Outlook
Wire extrusion machine market is expected to grow significantly in Asia Pacific region, owing to increasing infrastructure development and rapid increasing manufacturing sector in South East Asia. Asia pacific is also estimated to glare at relatively prominent CAGR as compared to other regions and also expected to prevail throughout the forecast period. Considerable investment in industrial sector in the Middle East region is estimated to accelerate the growth of the wire extrusion machine market.
Moreover, the growth of construction sector in MEA region will also indirectly affect the growth of wire extrusion machine market. Developed regions such as North America and Western Europe regions hold significant market share in wire extrusion machine market due to high demand for wires & cables in various end use industries. Other regions such as Eastern Europe and Latin America are anticipated to the growth of wire extrusion machine market at moderate CAGR over the forecast period.
Wire Extrusion Machine Market: Key Players
Examples of some of the market participants identified across the value chain of the global Wire Extrusion Machine market includes:
- Sant Engineering Industries.
- Assomac Machines Limited.
- TOMER ENGINEERING WORKS
- D C Engineering Works
- Sampsistemi
- MORGAN KOCH.
- Pioneer Machinery
- American Kuhne Solutions
- MFL Group
- MAGUIRE PRODUCTS INC.
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