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By 2030, the market for steel wire is anticipated to reach USD 163.44 billion, growing at a 6.5% CAGR from 2023 to 2030. As steel is one of the primary building materials needed in high-rise structures, it is anticipated that the market for steel wires will expand as a result of the increase in demand for these structures.
Rolling steel billet into steel wire, which is then used to make wire, is a semi-finished product. Then coils are formed from this wire. Either a strapping band or a wire is used to tie the coils. They are typically offered for sale rolled up. The user can clean, coat, and/or heat the wires to prepare them for future processing.
Stainless steel wire is a type of wire produced from stainless steel. Despite the fact that it can be more brittle than other types of steel wire, corrosion resistance is provided by the high chromium content. Due to the lack of corrosive materials in petrochemical processing plants and some dairy farms, stainless steel wire may also be useful in applications where it won't come into contact with air or water, such as internal wiring for appliances. Constructions often employ steel wire for reinforcement. Steel wires are employed as reinforcement because they provide the strength necessary for large-scale infrastructure, such as bridges, buildings, and other structures, to stand alone without them. Hoops and springs, which are both directly related to tension, are made in ships using steel wire.
The greater emphasis on growing auto production is anticipated to be advantageous for the market. The market's expansion is anticipated to be constrained given the accessibility of substitutes such plastic ropes. Plastic ropes are now being used by certain small enterprises because they are more affordable, environmentally friendly, and offer benefits like lighter products, improved stability, and decreased manufacturing waste. Therefore, it is projected that as plastic rope technology advances, it will become more challenging to grow the steel wire industry.
Report Coverage
Global Steel Wire research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Steel Wire report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Steel Wire competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Steel Wire market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Steel Wire market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Steel Wire market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Arcelor Mittal, Bekaert, JFE Steel Holdings, Kobe Steel Limited, LIBERTY Steel Group, Nippon Steel Corporation, Tata Steel Limited, VAN MERKSTEIJN INTERNATIONAL, Henan Hengxing Science & Technology Co., Ltd., and Tianjin Huayuan Metal Wire Products Co.Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Steel Wire market based on the below-mentioned segments:
Global Steel Wire Market, By Type
Global Steel Wire market, By Application
Global Steel Wire market, Regional Analysis
Rolling steel billet into steel wire, which is then used to make wire, is a semi-finished product. Then coils are formed from this wire. Either a strapping band or a wire is used to tie the coils. They are typically offered for sale rolled up. The user can clean, coat, and/or heat the wires to prepare them for future processing.
Stainless steel wire is a type of wire produced from stainless steel. Despite the fact that it can be more brittle than other types of steel wire, corrosion resistance is provided by the high chromium content. Due to the lack of corrosive materials in petrochemical processing plants and some dairy farms, stainless steel wire may also be useful in applications where it won't come into contact with air or water, such as internal wiring for appliances. Constructions often employ steel wire for reinforcement. Steel wires are employed as reinforcement because they provide the strength necessary for large-scale infrastructure, such as bridges, buildings, and other structures, to stand alone without them. Hoops and springs, which are both directly related to tension, are made in ships using steel wire.
The greater emphasis on growing auto production is anticipated to be advantageous for the market. The market's expansion is anticipated to be constrained given the accessibility of substitutes such plastic ropes. Plastic ropes are now being used by certain small enterprises because they are more affordable, environmentally friendly, and offer benefits like lighter products, improved stability, and decreased manufacturing waste. Therefore, it is projected that as plastic rope technology advances, it will become more challenging to grow the steel wire industry.
Report Coverage
Global Steel Wire research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Steel Wire report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Steel Wire competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Steel Wire market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Arcelor Mittal, Bekaert, JFE Steel Holdings, Kobe Steel Limited, LIBERTY Steel Group, Nippon Steel Corporation, Tata Steel Limited, VAN MERKSTEIJN INTERNATIONAL, Henan Hengxing Science & Technology Co., Ltd., and Tianjin Huayuan Metal Wire Products Co.Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Steel Wire Market from 2021 to 2030.
- Market Forecast for Steel Wire Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Steel Wire competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Steel Wire
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Steel Wire market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Steel Wire market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Arcelor Mittal, Bekaert, JFE Steel Holdings, Kobe Steel Limited, LIBERTY Steel Group, Nippon Steel Corporation, Tata Steel Limited, VAN MERKSTEIJN INTERNATIONAL, Henan Hengxing Science & Technology Co., Ltd., and Tianjin Huayuan Metal Wire Products Co.Ltd.
Primary Target Market
- Market Players of Steel Wire
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Steel Wire market based on the below-mentioned segments:
Global Steel Wire Market, By Type
- Carbon Steel
- Alloy Steel
- Stainless Steel
Global Steel Wire market, By Application
- Construction
- Automotive
- Energy
- Industrial
- Agriculture and Others
Global Steel Wire market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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