The study on the Global Steel Wire Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Steel Wire Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Steel Wire industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Steel Wire industry
The global steel wire market size reached USD 98.96 Billion in 2021 and is expected to register a revenue CAGR of 5.5% during the forecast period, according to latest analysis by Emergen Research. Significant investments in construction of fences for various applications and purposes is a major factor driving market revenue growth. In addition, initiatives being undertaken by government bodies to install restraints to avoid human-animal conflicts and need to change fences from time to time are driving revenue growth of the market. Steel wires are preferred for fence construction due to ease of installation, visibility, and durability. One of the key properties of wire fencing is the freedom to customize and configure as per requirements. Also, companies invest in production equipment to manufacture different styles and finishes, and steel wires made from galvanized steel are more cost-effective and fences deployed with a combination of steel with wood posts for enhanced durability are more preferred.
However, wide availability of plastic and hybrid ropes as a replacement for steel ropes is a major factor restraining market revenue growth. Steel ropes are used in the construction of cranes, elevators, and others but due to disruptions in the supply chains and cost-effectiveness associated with the manufacturing of plastic and hybrid ropes, small medium-scale industries are shifting towards the aforementioned alternatives. In addition, replacing steel ropes with plastic ropes has significantly reduced the weight of products, provide better stability, and reduced equipment load. Moreover, plastic ropes can withstand harsh environmental conditions and tolerate conditions during installation, handling, and equipment maintenance.
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Competitive Landscape:
The report emphasizes the demands and trends for the Steel Wire market in the global market, more importantly, in the market that is spread across the major regions of the country. These major regions include North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The Steel Wire market is further segmented on the basis of product types offered in the market, application spectrum, leading manufacturers/companies, and key geographical regions.
The major companies Covered in the report are:
ArcelorMittal, HBIS Group, Nippon Steel Corporation, Bekaert, Tata Steel, JSW Steel, Kobe Steel, Ltd., JFE Steel Corporation, Heiko Companies, Insteel Industries, Inc., Fagersta Stainless AB, and GP Steel Manufacturing SA
Significant Features of the Steel Wire Market Report:
- Extensive competitive landscape analysis to offer the readers key insights into driving and restraining factors along with strategies adopted by the key players
- Assessment of the existing and emerging trends of the business sphere
- Detailed analysis of the emerging growth opportunities and threats and limitations the players might face in the coming years
- Significant breakdown of the market to assess the factors that might influence the global market growth
- An 8-year forecast for better understanding of the workings and growth opportunities of the market
- Extensive analysis of the key geographical regions to assess market share, market size, production and consumption, revenue contribution, and supply and demand ratio
- Comprehensive overview of the Steel Wire market on a regional and global level
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The Steel Wire market offers strategic insights that provide fruitful information to the readers to help them capitalize on the business offerings. Market share data is also available on a global and regional level.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Form Outlook (Revenue, USD Billion; 2019-2030)
- Rope
- Non-Rope
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Construction
- Automotive
- Energy
- Others
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Table of Content
Chapter 1. Methodology Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2022–2030
Chapter 3. Key Insights
Chapter 4. Steel Wire Market Segmentation Impact Analysis
4.1. Industrial Outlook
4.1.1. Market indicators analysis
4.1.2. Market drivers’ analysis
4.1.2.1. Rising focus on development of sustainable and eco-friendly products
4.1.2.2. Increasing adoption of water based adhesives in packaging and footwear industries
4.1.2.3. Increasing usage of acrylic dispersion adhesives in the construction industry
4.1.3. Market restrains analysis
4.1.3.1. Low storage capability due to perishability
4.1.3.2. High competition from hot melt adhesives
4.2. Technological Insights
4.3. Regulatory Framework
4.4. Porter’s Five Forces Analysis
4.5. Competitive Metric Space Analysis
4.6. Price Trend Analysis
4.7. Covid-19 Impact Analysis
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