The global steel wire market is anticipated to grow at a significant CAGR during the forecast period. For instance: –
- In February 2022, Nucor Corporation announced acquisition in California Steel Industries, Inc. (CSI). The joint venture offers the corporation a strong foothold in Western Canada and the potential to develop a greater range of value-added sheet goods for the modern economy.
- In December 2021, Marlin Steel Wire of Baltimore has purchased the assets of Madsen Wire of Orland, Indiana, which manufactures security partitions for fleet cars. The company manufacturers of wire mesh, wire grid, wire mats and forms and refrigerator shelves. The acquisition of two companies will allow to ship faster, and focus on on-time delivery.
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- In October 2021, JSW Steel has acquired Neotrex Steel, an under-construction project to produce Low Relaxation Pre-Stressed Concrete (LRPC) strands, from the JSW Group promoters’ owned company Everbest Consultancy Services.
- In April 2021, TSLPL (Tata Steel Long Products Limited) acquired the steel division of Usha Martin Limited, pursuant to the Business Transfer Agreement (BTA) for total consideration of ? 4,525 crore.
- In February 2021, Tata Metaliks and Indian Steel & Wire Products Limited with Tata Steel Long Product Limited merged together.
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- In September 2020, Bekaert and Almasa had agreed to merge Proalco SAS (a Bekaert subsidiary) with Almasa SA’s steel wire operations, both of which are based in Colombia.
Moreover, in March 2022, UK and US resolve steel and aluminum tariffs issue under the smaller deal that has been agreed, the US will suspend its 25% levy on the first 500,000 UK steel exports each year, and the 10% levy on the first 21,600 aluminum products, re-opening tariff free access for UK steel and aluminum exporters to the US. which resulted in support the jobs of around 80,000 people across the UK. The changes will take effect on 1 June 2022. In return the UK will suspend rebalancing measures on US products including whiskey, blue jeans and motorcycles.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Form
o By Type
o By End User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- ArcelorMittal, HBIS Group, Heico Wire Group, Nippon Steel & Sumitomo Metal Corporation, TATA Steel Ltd., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Steel Wire Market Report Segment
By Form
- Rope
- Non-Rope
By Type
- Alloy Steel
- Carbon Steel
- Stainless Steel
By End-User
- Construction
- Automotive
- Energy
- Agriculture
- Industrial
