GLOBAL STEEL WIRE MARKET PROJECTED TO REACH $23.7 BILLION IN 2012
Tremendous growth in developing economies, particularly China and India, is fueling market growth.
Posted: May 8, 2008
The steel industry's business cycles reflect the general economic activity of a nation. Steel wire being a part of the steel industry is highly dependent on the buoyancy of its end-use industries. Conditions in construction and automotive industries largely determine demand for wire products worldwide.
Rampant economic expansion in China has catapulted the nation as the largest and fastest growing consumer of steel and steel products in the world. Growing investment in infrastructure and higher disposable incomes in several developing economies are key factors driving growth in steel and its derivative products. The steel wire market in Asia-Pacific is estimated at $9.4 billion.
Asia-Pacific and Europe collectively account for more than 70 percent of the global steel wire market. European carbon steel wire market is expected to reach $4.6 billion by 2010. Global market for alloy steel wires is expected to grow at a compounded annual rate of 4 percent over the period 2001-2010. Asia-Pacific accounts for about 43 percent of the global stainless steel wire market.
The global marketplace includes participants such as Arcelor Mittal, Bridon, Carrington Wire, Davis Wire Corp, Insteel Industries, Ivaco Inc, Kobe Steel, Leggett & Platt, NV Bekaert, Pohang Iron & Steel, Steel Authority of India,
India,Tata Steel, Tree Island Industries and Wire Rope Industries.
"Steel Wire: A Global Strategic Business Report" published byGlobal Industry Analysts, Inc. (San Jose, CA), provides a comprehensive review of market trends and issues, drivers, product profile, players, competitive landscape, technological developments, recent developments, mergers, acquisitions, alliances and other strategic industry activities. Analysis is presented for major geographic markets including United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Analytics for the period 1991-2015 are provided in terms of product segments including Carbon Steel Wire (Plain, Plated /Coated with Zinc and Other Coated), Alloy Steel Wire (Plain and Coated), and Stainless Steel Wire (Round and Others).
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