The global steel wire market revenue was around US$ 100.7 billion in 2022 and is estimated to reach US$ 253.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 10.81% during the forecast period from 2023 to 2031.
Steel wires are stretched cylindrical structures of metal in solid, stranded, or braided forms. They are formed from an alloy of carbon, iron, manganese, and silicone. They can be manufactured in special shapes like circular, rectangular, square, and many more. Steel wires have various physical properties such as flexibility, high tensile strength, greater modulus, and lower contact pressure.
Market Driving Factors
Increasing concern for security boosts the market. Steel wire fences are utilized to protect property without utilizing complex systems such as metal wire. These wires can be shaped into squares, or circles to protect certain areas. Additionally, it is utilized for poultry cages, so that the animals do not cross a certain area.
Steel wire is utilized in road construction, flyovers, slabs, railway bridges, high-rise buildings, and others. Furthermore, it is utilized for lifting heavy things such as cement blocks, machinery, or even people in the lift. Thus, the increasing investment in construction activities is a surge in the demand for steel wire. This is estimated to propel the market expansion.
Increasing demand for electric vehicles fuels the market growth. Steel wires are utilized as a wire armor for the charging cable production that is utilized for charging electric vehicles. They are extensively utilized in parts production, such as moving heavy loads, supplying parts, and directly contributing to the creation of several automotive parts.
The surge in the cost of raw materials hamper the market growth.
Regional Analysis
Asia Pacific dominated the market. India and China are the largest steel producers in the world. A large number of key players in these nations have also accelerated the steel wire production in the region. Furthermore, the smart cities and infrastructure development projects in the region will create a positive impact on the market. In addition, steel wire is a key input into a broad range of industries, including automotive, construction, and electronics. Therefore, there has been a significant surge in these businesses with the increase in steel wire production in the region.
Segmentation Insights
Type Insight
The carbon steel segment dominated the market. Recyclability, safe to handle, and durability are all benefits of carbon steel wire. It is widely used in the construction, railroad, industrial, and other related industries. These factors are expected to segment growth.
Thickness Insight
0.8mm to 1.6 mm segment dominates the market. 0.8mm to 1.6mm thickness of steel wire is utilized in industrial purposes such as electronics, construction for binding rebars, automotive, entertainment, manufacturing, aerospace, mining, and other industries.
End User Insight
The construction segment dominated the market. This can be attributed to the several uses of steel wire-based cables, ropes, strands, and cords in moving machinery, supporting structures, and several applications in the construction industry. Thus, this factor drives the segment growth.
Prominent Companies
Segmentation Outline
The global steel wire market segmentation focuses on Type, Form, Coating Type, Thickness, End User, and Region.
By Type
By Form
By Coating Type
By Thickness
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL STEEL WIRE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: STEEL WIRE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL STEEL WIRE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL STEEL WIRE MARKET, BY TYPE
5.1 OVERVIEW
5.2 CARBON STEEL
5.3 ALLOY STEEL
5.4 STAINLESS STEEL
6 GLOBAL STEEL WIRE MARKET, BY FORM
6.1 OVERVIEW
6.2 ROPE
6.3 NON-ROPE
7 GLOBAL STEEL WIRE MARKET, BY COATING TYPE
7.1 OVERVIEW
7.2 PVC
7.3 ZINC
7.4 ALUMINUM ALLOY
7.5 STAINLESS STEEL
7.6 OTHERS
8 GLOBAL STEEL WIRE MARKET, BY THICKNESS
8.1 OVERVIEW
8.2 0.01 MM TO 0.8 MM
8.3 0.8 MM TO 1.6 MM
8.4 1.6 MM TO 4 MM
8.5 4 MM & ABOVE
9 GLOBAL STEEL WIRE MARKET, BY END USER
9.1 OVERVIEW
9.2 OIL AND GAS
9.3 AEROSPACE
9.4 MINING
9.5 MANUFACTURING
9.6 AUTOMOTIVE
9.7 CONSTRUCTION
9.8 AGRICULTURE
9.9 ENTERTAINMENT
9.10 OTHERS
10 GLOBAL STEEL WIRE MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL STEEL WIRE MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 ARCELORMITTAL
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 BEKAERT SA
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 BHARAT WIRE ROPES LIMITED
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 CHINA BAOWU GROUP
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 CSN STEEL
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 FERRIER NORD
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 GUSTAV WOLF GMBH
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8. HBIS GROUP
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 JFE STEEL CORPORATION
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 JIANGLIN STAINLESS
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.11 JSW STEEL LTD
12.11.1 OVERVIEW
12.11.2 FINANCIAL PERFORMANCE
12.11.3 PRODUCT OUTLOOK
12.11.4 KEY DEVELOPMENTS
12.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.12 KOBE STEEL LTD
12.12.1 OVERVIEW
12.12.2 FINANCIAL PERFORMANCE
12.12.3 PRODUCT OUTLOOK
12.12.4 KEY DEVELOPMENTS
12.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.13 NIPPON STEEL
12.13.1 OVERVIEW
12.13.2 FINANCIAL PERFORMANCE
12.13.3 PRODUCT OUTLOOK
12.13.4 KEY DEVELOPMENTS
12.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.14 POSCO
12.14.1 OVERVIEW
12.14.2 FINANCIAL PERFORMANCE
12.14.3 PRODUCT OUTLOOK
12.14.4 KEY DEVELOPMENTS
12.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.15 SHAGANG GROUP INC
12.15.1 OVERVIEW
12.15.2 FINANCIAL PERFORMANCE
12.15.3 PRODUCT OUTLOOK
12.15.4 KEY DEVELOPMENTS
12.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.16 TATA STEEL LIMITED
12.16.1 OVERVIEW
12.16.2 FINANCIAL PERFORMANCE
12.16.3 PRODUCT OUTLOOK
12.16.4 KEY DEVELOPMENTS
12.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.17 TEUFELBERGER
12.17.1 OVERVIEW
12.17.2 FINANCIAL PERFORMANCE
12.17.3 PRODUCT OUTLOOK
12.17.4 KEY DEVELOPMENTS
12.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.18 USHA MARTIN
12.18.1 OVERVIEW
12.18.2 FINANCIAL PERFORMANCE
12.18.3 PRODUCT OUTLOOK
12.18.4 KEY DEVELOPMENTS
12.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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