The Worldwide Steel Wire Industry is Projected to Reach $124.7 Billion by 2025 at a CAGR of 6% from 2020 - PRNewswire

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DUBLIN, May 6, 2021 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.

The global steel wire market size is projected to grow from USD 93.1 billion in 2020 to USD 124.7 billion by 2025, at a CAGR of 6.0% between 2020 and 2025.

Steel wires are demanded in various end-use industries including construction, automotive, industrial; due to their advantages properties such as high strength, conductivity, and durability. However, global pandemic disease COVID-19 has disrupted the operations of construction, automotive, and other industries which are expected to decrease the demand for steel wire in 2020.

The non-rope form is the fastest-growing form of steel wires, in terms of value.

The non-rope form steel wires find wide applications in various end-use industries. Some of the major applications include a wire for tires, hoses, galvanized wires and strands, ACSR strands, and armoring of conductor cables, springs, fasteners, clips, staples, mesh, fencing, screws, nails, barbed wires, chains, etc. The increasing demand from these applications is expected to drive the non-rope steel wire market during the forecasted period.

Stainless steel is the fastest-growing type of steel wire, in terms of value.

The stainless-steel wire products are mainly used in industries such as shipbuilding, agriculture, petroleum, automobile, welding electrode, and bright bars & household applications. In the energy sector, stainless steel wires are used in nuclear reactors, transmission lines, heat exchangers, and desulfurization scrubbers. The increasing demand for stainless steel wire products from spring steel products and oil & gas applications is expected to drive the market during the forecast period. Stainless steel products are used in applications where products need to be used in corrosive and harsh environmental conditions.

1.6 mm to 4 mm thickness segment is the fastest-growing thickness segment of steel wire, in terms of value.

The 1.6 mm to 4 mm thickness segment of the steel wire market is the fastest-growing segment. It is the most common thickness of steel wire used. The steel wires of this thickness range are used in TIG welding wire, core wire, electropolish wire, conveyor belt wire, nail wire, nickel-coated base wire for spring, automotive tire cord, automotive spoke wire, bicycle spoke wire, cable armor, fencing, chain link fencing, and among others.

Automotive is the fastest-growing end-use industry of steel wire, in terms of value.

In the automotive end-use industry, steel wires are used in tire reinforcement, spring steel wires, spoke wires, fasteners, exhaust lines, windshield wipers, airbag safety systems, and reinforcement for fuel or brake hose, among others. The recovery in the automotive industry post-Covid-19 era is expected to drive the steel wire market in the automotive end-use industry.

Europe is the fastest-growing steel wire market.

Europe is projected to register the highest CAGR in terms of value in the global steel wire market during the forecast period. The growth of the steel wire industry in this region is supported by the recovery in end-use industries, the advancement of industrial technology solutions, and increasing spending on infrastructural projects.

Due to COVID-19, numerous industries and automotive companies have halted their production sites across various countries that has led to reduced demand for steel wire, which affected the steel wire demand in European countries. The recovery in the end-use industries with restoration in the supply chain would drive the steel wire demand during the forecast period.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Steel Wire Market
4.2 Steel Wire Market, by Type
4.3 Global Steel Wire Market, by Form
4.4 Global Steel Wire Market, by Thickness
4.5 Global & Europe: Steel Wire Market, by End-Use Industry
4.6 Steel Wire Market, by Key Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 European Expenditure on Infrastructure Development Projects
5.2.1.2 Rise in the Use of Galvanized Steel Wire
5.2.2 Restraints
5.2.2.1 Emergence of Plastic and Hybrid Ropes
5.2.3 Opportunities
5.2.3.1 Recovery in Automotive End-Use Industry Post COVID-19
5.2.4 Challenges
5.2.4.1 Need to Maintain Uninterrupted Supply Chain and Operate at Full Capacity Post COVID-19
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Supply Chain Analysis
5.4.1 Raw Materials
5.4.2 Manufacturing
5.4.3 Application
5.5 Technology Analysis
5.6 Value Chain Analysis & Impact of COVID-19
5.6.1 Raw Materials
5.6.2 Wire Manufacturers
5.6.3 End-Users
5.7 Pricing Analysis
5.7.1 Average Selling Price
5.8 Key Market for Import/Export
5.9 Patent Analysis
5.9.1 Methodology
5.9.2 Document Type
5.9.3 Insights
5.9.4 Applicants of Steel Wire Patents in 2019
5.10 Regulatory Landscape
5.11 Case Study Analysis

6 Steel Wire Market, by Form
6.1 Introduction
6.1.1 Steel Wire Market, by Form
6.2 Non-Rope
6.2.1 Non-Rope Form Steel Wire Market, by Region
6.3 Rope Form
6.3.1 Rope Form Steel Wire Market, by Region

7 Steel Wire Market, by Type
7.1 Introduction
7.1.1 Steel Wire Market, by Type
7.2 Carbon Steel Wire
7.2.1 High Carbon Steel
7.2.2 Medium Carbon Steel
7.2.3 Low Carbon Steel
7.2.4 Carbon Steel Wire Market, by Region
7.3 Alloy Steel Wire
7.3.1 Alloy Steel Wire Market, by Region
7.4 Stainless Steel Wire
7.4.1 Stainless Steel Wire Market, by Region

8 Steel Wire Market, by Thickness
8.1 Introduction
8.1.1 Steel Wire Market, by Thickness
8.2 O.01 Mm to 0.8 Mm Diameter
8.2.1 Steel Wire Market in 0.01 Mm to 0.8 Mm Thickness Segment, by Region
8.3 0.8 Mm to 1.6 Mm Thickness
8.3.1 Steel Wire Market in 0.8 Mm to 1.6 Mm Thickness Segment, by Region
8.4 1.6 Mm to 4 Mm Thickness
8.4.1 Steel Wire Market in 1.6 Mm to 4 Mm Thickness Segment, by Region
8.5 4 Mm and Above
8.5.1 Steel Wire Market in 4 Mm and Above Thickness Segment, by Region

9 Steel Wire Market, by End-Use Industry
9.1 Introduction
9.1.1 Steel Wire Market, by End-Use Industry
9.2 Construction
9.2.1 Steel Wire Market in Construction End-Use Industry, by Region
9.3 Automotive
9.3.1 Steel Wire Market in Automotive End-Use Industry, by Region
9.4 Energy
9.4.1 Steel Wire Market in Energy End-Use Industry, by Region
9.5 Agriculture
9.5.1 Steel Wire Market in Agriculture End-Use Industry, by Region
9.6 Industrial
9.6.1 Steel Wire Market in Industrial End-Use Industry, by Region
9.7 Other End-Use Industries
9.7.1 Steel Wire Market in Other End-Use Industries, by Region

10 Steel Wire Market, by Region
10.1 Introduction
10.2 APAC
10.3 Europe
10.4 North America
10.5 Middle East & Africa
10.6 Latin America

11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis
11.3 Market Ranking
11.4 Market Evaluation Framework
11.4.1 New Product Launch/New Product Development
11.4.2 Agreement/Partnership/Joint Venture
11.4.3 Expansion
11.4.4 Merger/Acquisition
11.5 Revenue Analysis of Top Market Players
11.6 Company Evaluation Matrix
11.6.1 Star
11.6.2 Pervasive
11.6.3 Participants
11.6.4 Emerging Leaders
11.7 Strength of Product Portfolio
11.8 Business Strategy Excellence

12 Company Profiles
12.1 Arcelormittal
12.2 Hbis Group Ltd.
12.3 Nippon Steel
12.4 Bekaert Sa
12.5 Tata Steel Limited
12.6 Jsw Steel Ltd.
12.7 Kobe Steel, Ltd.
12.8 Jfe Steel Corporation
12.9 The Heico Companies
12.10 Jiangsu Shagang Group
12.11 Ferrier Nord
12.12 Byelorussian Steel Works
12.13 Insteel Industries, Inc.
12.14 Fagersta Stainless Ab
12.15 Fapricela - Industria De Trefilaria
12.16 Van Merksteijn International
12.17 Voestalpine Wire Austria GmbH
12.18 Dwk Drahtwerk Koln GmbH
12.19 Intersig N. V.
12.20 Hy-Ten Group Limited
12.21 Zdb Dratovna
12.22 Viraj Profiles Ltd.
12.23 Cb Trafilati Acciai S.P.A.
12.24 Kamaridis Global Wire Sa
12.25 G.P. Manufacturas Del Acero