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OverviewAPI
The automotive magnet wire market is projected to reach USD 6,991.12 million by 2030, driven by the increasing demand for electric vehicles and the need for magnet wires in their motors. The global copper magnetic wire market is projected to reach $39.04 billion by 2031, fueled by rising industrialization and demand for electricity, as well as the increase in demand for electric vehicles. However, fluctuating copper costs and the availability of alternate materials may hinder market growth.

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