Steel wire rod is basically a semi-finished product, which is rolled from steel billet as well as used for the manufacturing of wire. This wire rod is then formed into coils. The coils are secured either through tying with a wire or using a strapping band. They are primarily sold in a rolled condition. The customers may prepare the wire rods for again processing by cleaning & coating or by heating. Market drivers such as increased industrialization in developing nations, capacity expansion of steel manufactures, etc., have propelled the growth of the steel wire rod market.
MARKET DYNAMICS
The steel wire rod market has witnessed a significant growth owing to factors such as wider application in automotive components, mechanical equipment, port cranes, and elevators for various industries oil & gas, mining, building & construction, marine, automobile, and others. However, various regulations on raw materials used for making steel wire rod may hamper the growth of the steel wire rod market. Nevertheless, with the steady growth in the chemical processing industry and the heavy metal industry, there are opportunities for the market players to invest in this market.
MARKET SCOPE
The "Global Steel Wire Rod Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the steel wire rod market with detailed market segmentation by composition, type, application, end-use industries, and geography. The global steel wire rod market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steel wire rod market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global steel wire rod market is segmented on the basis of composition, type, application, and end-use industries. Based on composition, the steel wire rod market is segmented into carbon steel wire, alloy steel wire, and stainless steel wire. On the basis of form, the steel wire rod market is segmented into 6MM, 8MM, 10MM, and others. The steel wire rod market on the basis of the application is classified into automotive components, mechanical equipment, port cranes, and elevators. On the basis of end-use industries, global steel wire rod market is bifurcated into oil & gas, mining, building & construction, marine, automobile, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel wire rod market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel wire rod market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
`The report analyzes factors affecting the steel wire rod market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel wire rod market in these regions.
MARKET PLAYERS
The reports cover various key developments in the global steel wire rod market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from steel wire rod market are anticipated to lucrative growth opportunities in the future with the rising demand for steel wire rod in the global market. Below mentioned is the list of few companies engaged in the steel wire rod market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the steel wire rod market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ArcelorMittal
- EVRAZ
- Gerdau
- NSSMC
- SHAGANG GROUP
- Others
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.