Steel Wire Market- Growth Opportunities, Global Share Analysis, and Segmentations

The global steel wire market size Steel wire is a type of wire made from various grades of steel, characterized by its strength, durability, and versatility. It is produced through a process of drawing, where steel rods or billets are pulled through a series of dies to achieve the desired diameter and mechanical properties. Steel wire finds extensive applications across multiple industries, including construction, automotive, manufacturing, fencing, and telecommunications, due to its ability to withstand high tension, corrosion resistance, and flexibility. The Steel Wire Market is expected to reach USD 124.7 billion by 2025, projecting a CAGR of 6.0% between 2020 and 2025.

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Steel Wire Manufacturers:

The major manufacturers profiled in this report include ArcelorMittal (Luxembourg), Nippon Steel (Japan), JFE Steel Corporation (Japan), TATA Steel Limited (India) and Kobe Steel, Ltd. (Japan), are some of the key players in the steel wire market. JSW Steel Ltd. (India), Bekaert SA (Belgium), The Heico Companies (United States), Ferrier Nord (Italy), and Byelorussian Steel Works (Belarus), and among others. However, several steel wire manufacturers have focused their concentration on new product development. These developments, coupled with end-use industries resuming their operations at full capacities, would create demand for steel wires during the forecast period. For instance, Bekaert SA reached to and acquisition agreement with Bridon-Bekaert Ropes Group and took full ownership. The company adopted this strategy to grow its business globally and to create significant value over the period of time.