Request Sample Inquiry
Iron Or Steel Wire Rod Market

Iron Or Steel Wire Rod Market

Iron Or Steel Wire Rod Market Global Industry Assessment & Forecast

# Pages:

175

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0309

Segments Covered
  • By Type Round Steel Wire Rope, Weave Steel Wire Rope, Oblate Steel Wire Rope
  • By Application Oil and gas, Construction, Elevator, Port crane, Mining, Other
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 8.7 Billion
Revenue 2028Revenue 2028: 12.0 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 6
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Iron Or Steel Wire Rod market was valued at USD 8.7 Billion in 2020 and is projected to reach USD 12.0 Billion by 2028, growing at a CAGR of 6% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 12.0 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 6%

Definition And Overview

The stainless steel wire rods are produced by hot rolling billets on constant rolling mills. They are fixed up in coils and have a round cross-section. Stainless steel wire rods have immense tensile durability and are utilized for diverse industrial objects such as reinforcing materials for tires and conveyor belts. Stainless steel wire rods are produced by hot rolling billets on coupled rolling mills


The global Iron Or Steel Wire Rod market was valued at USD 8.7 Billion in 2020 and is projected to reach USD 12.0 Billion by 2028, growing at a CAGR of 6% from 2021 to 2028.

The global Iron Or Steel Wire Rod market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028. 

Yearly Infographics 8.7 Billion 12.0 Billion

COVID-19 Impact Analysis

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Market Insights

The requirement for stainless steel wire rods is progressing in automotive manufacturing is driving the demand for Iron Or Steel Wire Rod Market.

The demand for stainless steel wire rods is rising from the construction industry owing to its semi-ductile properties thus, fueling the Iron Or Steel Wire Rod Market.

The risk is associated with plant location and the easy of distance is driving the demand for Iron Or Steel Wire Rod Market.

Global Iron Or Steel Wire Rod Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Type, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Metallia U.S.A. LLC, Republic Steel, King Steel, Cascade Steel Rolling Mills Inc., North American Stainless, Global Steel Wire, Keystone Consolidated Industries Inc., Greenmount Corporation.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis

Market Segmentation

Type  Analysis: Preview

On the basis of Type, the market is segmented into Round Steel Wire Rope, Weave Steel Wire Rope, Oblate Steel Wire Rope. LED  held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the LED in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Iron Or Steel Wire Rod market growth.

Application Analysis: Preview

Based on Application, the market is segmented into Oil and gas, Construction, Elevator, Port crane, Mining, Other. Railway  held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Iron Or Steel Wire Rod  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively.

Global Iron Or Steel Wire Rod Market: Type Segment Analysis

    • Round Steel Wire Rope
    • Weave Steel Wire Rope
    • Oblate Steel Wire Rope

Global Iron Or Steel Wire Rod Market: Application Segment Analysis

    • Oil and gas
    • Construction
    • Elevator
    • Port crane
    • Mining
    • Other

Regional Analysis Preview

On the basis of region, the global Iron Or Steel Wire Rod market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held a leading share of the global Iron Or Steel Wire Rod market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Iron Or Steel Wire Rod Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Iron Or Steel Wire Rod market are Metallia U.S.A. LLC, Republic Steel, King Steel, Cascade Steel Rolling Mills Inc., North American Stainless, Global Steel Wire, Keystone Consolidated Industries Inc., Greenmount Corporation.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Key Highlights – Global Iron Or Steel Wire Rod Market

  • Global Iron Or Steel Wire Rod Market is projected to reach USD 12.0 Billion by 2028
  • Asia Pacific held the highest share of the Iron Or Steel Wire Rod market
  • LED held the largest share of the product segment in the Iron Or Steel Wire Rod market
  • Railway held the major share of the application segment in the Iron Or Steel Wire Rod market

FAQ
Frequently Asked Question
  • The global Iron Or Steel Wire Rod valued at 8.7 Billion in 2020 and is expected to reach 12.0 Billion in 2028 growing at a CAGR of 6%.

  • The prominent players in the market are Metallia U.S.A. LLC, Republic Steel, King Steel, Cascade Steel Rolling Mills Inc., North American Stainless, Global Steel Wire, Keystone Consolidated Industries Inc., Greenmount Corporation..

  • The market is project to grow at a CAGR of 6% between 2021 and 2028.

  • The driving factors of the Iron Or Steel Wire Rod include

    • The requirement for stainless steel wire rods is progressing in automotive manufacturing is driving the demand for Iron Or Steel Wire Rod Market.
    • The demand for stainless steel wire rods is rising from the construction industry owing to its semi-ductile properties thus, fueling the Iron Or Steel Wire Rod Market.

  • Asia Pacific was the leading regional segment of the Iron Or Steel Wire Rod in 2020.