North America Iron Chromium Aluminum Alloy Wire Market Forecast to 2028 -Regional Analysis

The North America iron chromium aluminum alloy wire market is expected to grow from US$ 90.58 million in 2022 to US$ 118.59 million by 2028. It is estimated to grow at a CAGR of 4.6% from 2022 to 2028.

Growing Use of Iron Chromium Aluminum Alloy Wires in Industrial Furnaces Fuels North America Iron Chromium Aluminum Alloy Wire Market

Industrial furnaces are highly used in many industries, including chemicals, ceramic, glass, and oil & gas. Industrial furnaces are made from different high-temperature (refractory) materials to hold the process material and hold in the heat without breaking down. Iron chromium aluminum alloy wires are used for industrial furnaces with the highest continuous operating temperature. These iron chromium aluminum alloy wires are highly used in industrial furnaces due to their advantages such as high resistance, low-temperature coefficient of electric resistance, high operating temperature, and many others. The glass industry is growing with the increasing demand for glass from the construction and automotive industries. The high-temperature furnaces and dry ovens are an integral part of ceramic manufacturing. Advanced ceramic manufacturing process includes sintering, reaction bonding and de-binding applications, hot isostatic pressing, rapid heating and high-temperature firing. This process requires furnaces consisting of FeCrAl wires for rapid heating upto 2550 degree Celsius.

Further, the strong growth of the chemicals industry is mainly attributed to the rising demand for specialty chemicals from end-use industries such as food processing, personal care, home care, and many others. The growing industries such as glass, ceramic and chemicals propel the demand for industrial furnaces. Hence, the growing use of iron chromium aluminum alloy wires in industrial furnaces is driving the North America iron chromium aluminum alloy wires market growth.

North America Iron Chromium Aluminum Alloy Wire Market Overview

The North America iron chromium aluminum alloy wire market is segmented into the US, Canada, and Mexico. The market in the region is driven by the increasing use of iron chromium aluminum alloy wires in various application sectors such as industrial furnaces, metallurgy, machinery, aerospace, and automotive. The strong presence of chemicals, oil & gas, metal & mining, and other industries in the region creates a huge demand for iron chromium aluminum alloy wires. In the US, the chemicals industry is a keystone of the country’s economy. The US is one of the top chemical producers in the world, accounting for a significant share of the production across the world. In Canada, the chemical industry has played an important role in the country’s history and economy. The industry in the country focuses mainly on crude petroleum and natural gas processing. Hence, the strong presence of the chemical & petrochemical industry in North America mainly propels the demand for industrial furnaces, which fuels the need for iron chromium aluminum alloy wires across the region.

North America Iron Chromium Aluminum Alloy Wire Market Revenue and Forecast to 2028 (US$ Million)

North America Iron Chromium Aluminum Alloy Wire Market Segmentation

The North America iron chromium aluminum alloy wire market is segmented into application and country.

Based on application, the North America 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 share of the North America iron chromium aluminum alloy wire market in 2022.

Based on country, the North America iron chromium aluminum alloy wire market is segmented int o the US, Canada, and Mexico. The US dominated the share of the North America iron chromium aluminum alloy wire market in 2022.

Changzhou DLX Alloy Co Ltd; Donghai Electric Appliance Co Ltd; Hyndman Industrial Products Inc; Jiangsu Nickel alloy Co Ltd; JLC Electromet Pvt Ltd; Kanthal AB; Oceania International LLC; Suzhou Nickel Alloy Co Ltd; and Temco Industrial LLC are the leading companies operating in the North America iron chromium aluminum alloy wire market.