Stainless Steel Wire Rods Market Top key Players, Size, Share, Demand, Opportunities And Forecasts To 2026

The global stainless steel wire rods market is anticipated to expand at a considerable CAGR during the forecast period, 2020 – 2026. The growth of the market is attributed to the increase in its usage in industrial infrastructures.

Stainless steel wire rods consist of metal chromium which resistance to corrosion at high temperatures. Moreover, it can resist chemical and corrosive environments owing to its smooth surface and it is safe for long-term use. These are mainly used in industries such as automobile, agriculture, ship building, petroleum, bright bars, welding electrode, and household applications. It is available in a wide range of sizes, grades, and shapes. These are produced on continuous rolling mills by hot rolling billets. They have a round cross-section and are wound up in coils. Additionally, they are used in reinforcing materials for conveyor belts and tires owing to their high tensile strength. It is a semi-finished good and the user can prepare it for further processing by heating or cleaning & coating. The coils are protected by tying with a strapping band or a wire. They are sold in a rolled condition. It possesses a broad spectrum of properties such as high malleability, ductility, and a greater variety of steel grades.

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Market Trends, Drivers, Restraints, and Opportunities:

• The demand for stainless steel wire rods are increasing owing to its properties such as corrosion resistance, tensile strength, and aesthetic appearance, this, in turn, drives the market.
• Use of carbon fiber as a replacement to stainless steel is increasing in various industries thus, impeding the market growth.
• Increased in the usage of stainless steel wire in various industries is boosting the market.
• The demand for stainless steel wire rods are increasing in the automotive industry, for the manufacturing of steel wheel, seating, and vehicle door systems; therefore, driving the market.
• The development in industries such as the automotive and construction industry fuels the market.
• The industrialization in developing countries is increasing which drives the market.
• The global stainless steel wire rods market is growing owing to the capacity expansion by the
• The risk is associated with plant location which hampers the market growth.
• The demand for stainless steel wire rods is rising from the construction industry owing to its semi-ductile properties thus, fueling the market.
• The investments made in road infrastructure are likely to drive the market during the forecast period.
• Factors such as minimal maintenance and durability are likely to boost the market.

Competitive Landscape

Major players in the global stainless steel wire rods market are SHAGANG GROUP, ArcelorMittal, NSSMC, EVRAZ, Gerdau, NIPPON STEEL CORPORATION. They engage in strategies such as partnership & collaborations, product launches, expansions, and agreements. In December 2018, Synalloy Corporation acquired all the assets of American Stainless Turbing, Inc by signing an agreement.

Segments Covered in the Report

The global stainless steel wire rods market has been segmented on the basis of

By Types:

• 12mm
• 10mm
• 8mm
• 6mm
• Others

By Applications:

• Steel Fasteners
• Steel Wire
• Steel Bright Bars
• Others

By Regions:

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

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The following is the TOC of the report:

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Stainless Steel Wire Rods Market Overview

4.1. Introduction

4.1.1. Market Taxonomy

4.1.2. Market Definition

4.2. Macro-Economic Factors

4.2.1. Industry Outlook

4.3. Stainless Steel Wire Rods Market Dynamics

4.3.1. Market Drivers

4.3.2. Market Restraints

4.3.3. Opportunity

4.3.4. Market Trends

4.4. Stainless Steel Wire Rods Market – Supply Chain

4.5. Global Stainless Steel Wire Rods Market Forecast

4.5.1. Stainless Steel Wire Rods Market Size (US$ Mn) and Y-o-Y Growth

4.5.2. Stainless Steel Wire Rods Market Size (000? Units) and Y-o-Y Growth

4.5.3. Stainless Steel Wire Rods Market Absolute $ Opportunity

5. Global Stainless Steel Wire Rods Market Analysis and Forecast by Type

5.1. Market Trends

5.2. Introduction

5.2.1. Basis Point Share (BPS) Analysis by Type

5.2.2. Y-o-Y Growth Projections by Type

5.3. Stainless Steel Wire Rods Market Size and Volume Forecast by Type

5.3.1. 6mm

5.3.2. 8mm

5.3.3. 10mm

5.3.4. 12mm

5.3.5. Others

5.4. Absolute $ Opportunity Assessment by Type

5.5. Market Attractiveness/Growth Potential Analysis by Type

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