The Steel Wire Global Market Report 2023, provides comprehensive information on the steel wire market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Steel Wire Global Market Report 2023, the market size is expected to grow from $89.34 billion in 2022 to $94.16 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global steel wire market is expected to grow to $116.48 billion in 2027 at a CAGR of 5.5%.
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Product innovations and new product launch are a key trend gaining popularity in the steel wire market. Companies in the market are focusing on introducing new, advanced and efficient steel wires. For instance, in 2020, India based steel product company, Steel Authority of India’s Isco Steel Plant Burnpur (SAIL- ISP) introduced a premium segment of wire rod products, as part of its effort to expand market share across various industries and cater to growing needs of its customers. The company developed Cable Armour Quality Wire Rod which provides mechanical protection, allowing the cable can withstand higher stress.
The steel wire market is segmented:
1) By Type: Carbon Steel, Alloy Steel
2) By Thickness: 0.01 mm to 0.8 mm, 0.8 mm to 1.6 mm, 1.6 mm to 4 mm, 4 mm and above
3) By Form: Non Rope, Rope
4) By End-use: Construction, Automotive, Energy, Agriculture, Industrial
Asia-Pacific was the largest region in the steel wire market in 2022.
The table of contents in TBRC’s steel wire market report includes:
1. Steel Wire Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
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26. Company Profiles
27. Key Mergers And Acquisitions In The Steel Wire Market
28. Steel Wire Market Opportunities And Strategies
29. Steel Wire Market, Conclusions And Recommendations
30. Appendix
Top Major Players:
- ArcelorMittal
- Nippon Steel
- JFE Steel Corporation
- Bekaert SA
- Tata Steel Limited
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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