Steel Wire Market is anticipated to grow at a significant CAGR during the forecast period. Steel wire is a very useful and adaptable material that can be found in a variety of ordinary household items as well as in your automobile. Steel wire is also used for cleaning, spring-loaded devices, strengthening, structural integrity, and even generating music in aviation, construction, commercial, industrial, and military applications. However, not every wire can be utilised for every application. Steel wire is made to various strengths, elasticity, and thicknesses for various applications. Steel wires are in great demand in a variety of end-use sectors, including construction, automotive, and industrial, due to qualities including high strength, conductivity, and longevity. For instance, in 2020-21, India produced only 96.20 million tonnes of finished steel, which is two-thirds of the country’s capacity. India’s steel consumption is much lower than it produces and nowhere near its production capacity. India’s finished steel consumption between 2016 and 2021 ranged from 83.7 MTPA to 94.1 MTPA, according to the latest annual report of the Steel Authority of India Ltd. Crude steel production ranged between 95.5 MTPA and 110.9 MTPA in the same period.

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Steel Wire Market Segmentation

By Form

Rope
Non-Rope

By Type

Alloy Steel
Carbon Steel
Stainless Steel 

By End-User

Construction
Automotive
Energy
Agriculture
Industrial

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Regional Analysis           

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

Ansteel Group Corporation Limited
Bridon International Ltd.
China Baowu Steel Group Corporation Limited
Davis Wire Corporation
Gerdau S.A.
Insteel Industries, Inc.
JFE Steel Corporation
Jiangsu Shagang Group
Kobe Steel, Ltd.
Leggett & Platt® Inc.
National Standard
NV Bekaert SA
POSCO
Shougang Corporation
Tata Steel Group
thyssenkrupp Steel Europe AG
Tree Island Industries Ltd.
Usha Martin Limited

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