Establishments primarily engaged in drawing, drawing and insulating, and insulating wire and cable of nonferrous metals from purchased wire bars, rods, or wire. Also included are establishments primarily engaged in manufacturing insulated fiber optic cable. Establishments primarily engaged in manufacturing glass fiber optic materials are classified in Industry 3229, and those manufacturing fabricated wire products from purchased wire are classified in Industry 3496.
The Drawing and Insulating of Nonferrous Wire industry (NAICS 3357) has been experiencing several significant qualitative trends. A key trend is the increased demand for high-performance and specialty wires driven by advancements in electric vehicles (EVs), renewable energy infrastructures, and high-speed data transmission. As these sectors expand, there is a concomitant rise in the need for more durable, efficient, and higher-conductivity materials.
Sustainability has become a critical focus, with companies investing heavily in eco-friendly processes and materials. The adoption of greener insulation techniques and recycled nonferrous metals is becoming more prevalent to meet regulatory and consumer demands for environmental responsibility. Additionally, digital transformation and Industry 4.0 are reshaping manufacturing processes. The implementation of smart manufacturing technologies for improved precision and efficiency is on the rise, ensuring better quality control and reduced wastage.
Looking ahead, the industry is forecasted to continue its growth trajectory, bolstered by the surging automotive and renewable energy sectors. Innovations in wire drawing techniques and insulation materials that enhance performance while reducing costs are expected to proliferate. Market players are likely to invest in research and development to stay competitive and leverage emerging opportunities. Enhanced collaborations across the supply chain and with technological innovators will be crucial for tackling future challenges and capitalizing on growth prospects.
Apparatus wire and cord made in wiredrawing plants
Automotive and aircraft wire and cable, nonferrous
Cable, nonferrous bare, insulated, or armored-mfpm
Coaxial cable, nonferrous
Communications wire and cable, nonferrous
Cord sets, flexible made in wiredrawing plants
Fiber optic cable
Magnet wire, insulated
Shipboard cable, nonferrous
Signal and control cable, nonferrous
Weatherproof wire and cable, nonferrous
Wire cloth, nonferrous: made in wiredrawing plants
Wire screening, nonferrous: made in wiredrawing plants
Wire, nonferrous: bare, insulated, or armored-mfpm
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.