Challenges and Opportunities in the Growing Global Steel

September 07, 2023 05:23 ET | Source: Research and Markets Research and Markets

Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Global Steel Wire Market, By Type; By Form; By Coating Type; By Thickness; By End User - Estimation & Forecast, 2017-2030" report has been added to's offering. Brass Wire CuZn40

Challenges and Opportunities in the Growing Global Steel

The Global Steel Wire Market has been on a steady upward trajectory, from a market value of USD 79.09 billion in 2022 to an expected surge of USD 179.85 billion by 2030, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 11.11%. The market volume, pegged at 81.25 million tons in 2022, is projected to grow at a CAGR of 6%.

The market is competitive, with the top six players holding a combined market share of around 32%. Key players include ArcelorMittal, Bekaert SA, Bharat Wire Ropes Limited, China Baowu Group, CSN Steel, and Ferrier Nord, among others.

A selection of companies mentioned in this report includes

The Global Steel Wire Market is experiencing substantial growth due to factors like the construction and automotive industries' demand. Stainless steel is expected to be a major growth driver. Asia Pacific dominates in terms of market share and growth rate, driven by robust industries in China and India. While challenges like fluctuating prices exist, key players are adopting strategies to maintain their market positions. This report offers comprehensive insights into the market's direction, helping stakeholders make informed decisions based on the supply and demand trends in the steel industry.

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Challenges and Opportunities in the Growing Global Steel

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