Stainless Steel Wire Rods Market Overview :
Stainless steel wire rods are formed by hot rolling billets on continuous revolving mills. Stainless steel wire rods are on the demand of getting a extensive growth in the coming future. The properties of these wire rods such as corrosion resistance, high tensile strength, high ductility, malleability, and greater variety of steel grades have enlarged its applications. These wire rods are mainly used in end-user industries such as agriculture, ship building, automobile, welding, electrodes, and petroleum, among others. In addition, they are also used in various industrial applications such as strengthening materials for tyres and conveyor belts.
The primary factors that drives the growth of global stainless steel wire rods market is surging demand from the construction industry, and high investment in road infrastructure. Additionally, features such as minimal maintenance and high-level durability have also supported the market growth. However, risk associated with plant location is the major hindrance for the growth of the market. Moreover, growing investment of government and private corporations to use it in the construction of various applications such as railway tracks, metro coaches, road dividers, and many others are expected to open up numerous growth aspects for the market in the forthcoming years.
Application, and geography are the major segments considered in the global stainless steel wire rods market. Application segments include steel wire, steel bright bars, steel fasteners, and other applications. Based on geography, the global stainless steel wire rod market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Major companies operating in the market include Arcelor Mittal, Gerdau, SHAGANG Group, EVRAZ, Central Wire, Fagersta Stainless, Ivaco Rolling Mills, Emirates Steel, NSSMC, and Hebei Sakaguchi Stainless Steel, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Global Stainless Steel Wire Rods Market with respect to major segments such as application and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of the Global Stainless Steel Wire Rods Market has been included in the report
- Profile of the key players in the Global Stainless Steel Wire Rods Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Stainless Steel Wire Rods Market
- Steel Wire
- Steel Bright Bars
- Steel Fasteners
- Other Applications
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East