Pure Nickel Wire Market Growth Accelerated by Expanding Electrical and Automotive Industries
Pure nickel wire has excellent corrosion resistance, high strength and ductility making it the ideal conductive material for automotive and electronic applications. Pure nickel wire is used as resistance wire for heating elements in toasters, coffee makers and other home appliances due to its ability to withstand high temperatures. The global Pure Nickel Wire Market is estimated to be valued at US$ 102.2 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding electrical and automotive industries have been the major growth driver for the pure nickel wire market. Pure nickel wire is increasingly being used in electric vehicles for battery terminals and connectors due to its high conductivity. It is also being used in various electronic components such as circuit boards, switches and sensors due to its resistance to corrosion. Manufacturers are d...