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Steel Wire Global Market Report 2023: Emerging Economies to Considerably Impel Global Steel Demand

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Global Market for Steel Wire

Global Market for Steel Wire
Global Market for Steel Wire

Dublin, March 13, 2023 (GLOBE NEWSWIRE) -- The "Steel Wire: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Steel Wire Market to Reach $186 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Steel Wire estimated at US$98.7 Billion in the year 2022, is projected to reach a revised size of US$186 Billion by 2030, growing at a CAGR of 8.2% over the analysis period 2022-2030.

Carbon Steel, one of the segments analyzed in the report, is projected to record 8% CAGR and reach US$137.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Stainless Steel segment is readjusted to a revised 7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $26.9 Billion, While China is Forecast to Grow at 13.4% CAGR

The Steel Wire market in the U.S. is estimated at US$26.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$45.2 Billion by the year 2030 trailing a CAGR of 13.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 6.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.

Select Competitors (Total 182 Featured) -

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  • Ansteel Group Corporation Limited

  • ArcelorMittal S.A

  • Bridon International Ltd.

  • China Baowu Steel Group Corporation Limited

  • Davis Wire Corporation

  • Gerdau S.A.

  • HBIS Group

  • Heico Wire Group

  • Insteel Industries, Inc.

  • JFE Steel Corporation

  • Jiangsu Shagang Group

  • Kobe Steel, Ltd.

  • Leggett & Platt Inc.

  • National Standard

  • Nippon Steel & Sumitomo Metal Corporation

  • NV Bekaert SA

  • POSCO

  • Shougang Corporation

  • Tata Steel Group

  • thyssenkrupp Steel Europe AG

  • Tree Island Industries Ltd.

  • Usha Martin Limited

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

  • Global competitiveness and key competitor percentage market shares

  • Market presence across multiple geographies - Strong/Active/Niche/Trivial

  • Online interactive peer-to-peer collaborative bespoke updates

  • Access to digital archives and Research Platform

  • Complimentary updates for one year

Key Attributes:

Report Attribute

Details

No. of Pages

263

Forecast Period

2020 - 2027

Estimated Market Value (USD) in 2020

$90.2 Billion

Forecasted Market Value (USD) by 2027

$146.3 Billion

Compound Annual Growth Rate

7.2%

Regions Covered

Global

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Globalization & Rationalization - A Surviving Strategy

  • Outlook for the Steel Industry

  • Emerging Economies to Considerably Impel Global Steel Demand

  • Improving Economy Buoys General Market Optimism

  • Steel Industry Fortunes Intrinsically Tied to Construction Industry Dynamics

  • Increase in Automotive Production to Boost Market Prospects for Steel Wire

  • Oil & Gas Sector - Dynamic as Ever

  • Excess Production Results in Low Oil Prices

  • Steadily Increasing Prices Result in Higher Rig Counts in 2017 & 2018

  • Transition in Wafer Fabrication Technology to Add to the Growth in Steel Wire Market

  • Developing Countries Continue to Drive Growth Opportunities in the Market

  • Cost Efficient Manufacturing in Focus

  • High-Quality Steel Wire Rods in Demand for Production of Steel Wires

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/810nrf

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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