The report “Steel Wire Market by Form (Non-rope, Rope), Type (Carbon Steel, Alloy Steel, Stainless Steel), End-use Industry (Construction, Automotive, Energy, Agriculture, Industrial), Thickness, and Region – Global Forecast to 2025″, The global steel wire market size is expected to grow from USD 93.1 billion in 2020 to USD 124.7 billion by 2025, at a CAGR of 6.0% during the forecast period. Steel wire is extensively being used in the construction, automotive, energy, agriculture, industrial, and other end-use industries. The increasing construction & infrastructure projects support the demand for steel wire in the construction end-use industry.
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• 143 Market data Tables
• 50 Figures
• 200 Pages and in-depth TOC on “Steel Wire Market – Global Forecast to 2025”
Some of the prominent key players are:
· Mohawk Industries (US)
· Shaw Industries (US)
· Tarkett (France)
· Armstrong Flooring (US)
· Forbo (Switzerland)
· Gerflor (France)
· Interface (US)
· Beaulieu International (Belgium)
· TOLI Corporation (Japan)
· Milliken & Company (US)
Recent Developments :
• In March 2018, The company launched ‘SmartFAB’, which is India’s first branded welded fabric, a construction reinforcement solution. This product commonly known as wire mesh aiming to bring value, convenience and speed to various construction projects.
• In January 2019, Byelorussian Steel Works signed the supply contract with a Continental (Germany) in order to supply around 32.8 thousand tons of steel cords. This agreement helped company to maintain their competitive position in the market.
• In April 2018, Bekaert SA reached to and acquisition agreement with Bridon-Bekaert Ropes Group and took full ownership. The company adopted this strategy to grow their business globally and to create significant value over the period.
The carbon stell type accounts for the largest market share in the global steel wire market during the forecasted period in terms of value and volume
Carbon steel is the largest type of steel used for manuafturing steel wire. The carbon steel wire gives high strength and it is used in a wide range of applications such as for tires, cords, hoses, galvanized wires and strands, ACSR strands and armoring of conductor cables, fencing, springs, fasteners, clips, staples, mesh, screws, nails, barbed wires, chains, and steel fibers in concrete. The wide applications and acceptance of carbon steel wires is expected to drive the demand during the forecasted period. The COVID-19 pandemic has resulted in reduced demand for steel wires from major applications such as construction reinforcement and ACSR strands. These factors are expected to reduce the demand for carbon steel wire in 2020. The steel wire consumption is expected to recover post the pandemic.
APAC is expected to account for the largest market share in the steel wire market during the forecast period.
APAC accounts for the biggest share of the global steel wire market. The construction and automotive end-use industry are major consumers of steel wire in the region. The region is home to some of the major steel wire manufacturers such as Kobe Steel, Tata Steel, and Nippon Steel. Moreover, the China is a manufacturing hub of various commercial, military, and passenger automotive vehicles. Europe is the second major consumer of steel wire construction; automotive and energy are the major industries fueling the growth of the steel wire market in this region.
