Global Stainless Steel Wire Rods Market 2017-2021

This industry research report identifies ArcelorMittal, EVRAZ, Gerdau, SHAGANG GROUP, and NSSMC as the key vendors in the global stainless steel wire rods market. This industry research report also presents a competitive analysis of the market by application (steel wire, steel fasteners, steel bright bars, and others) and geography (APAC, Europe, North America, and ROW).

Overview of the global stainless steel wire rods market

Market research analysts at Technavio predict that the global stainless steel wire rods market will grow steadily over the next four years and in terms of volume, will post a CAGR of around 4% by 2021. This market research analysis identifies the increased demand from the construction industry as one of the key growth factors for the global stainless steel wire rods market. Due to the toughness and semi-ductile properties associated with the product, stainless steel wire rods are mainly used in the construction industry to bridge the joints that are prone to cracking. Stainless steel wire rods also find its application in the form of strands, wire mesh, and ropes for constructing solid concrete structures. Moreover, a rapid boost in the construction activity among the emerging economies will in turn, propel the growth of the stainless steel wire rods market.

In addition to their robust use in the construction industry, the investment in road infrastructure will also contribute to the growth of the market. The durability and the minimal maintenance factors associated with the product are driving various governments to pay heed to the product and leverage its use in the construction of various applications such as road dividers, metro coaches, railway tracks, and footpath rails. The rapid increase in the investment in infrastructure will further boost the stainless steel rods market over the next four years.

Competitive landscape and key vendors

The stainless steel wire rods market is highly diverse with the presence of several small and large players. Small vendors specialize in low-volume specialty products, wherein large establishments focus on producing tons of stainless steel wire rods. The vendors in the market produce stainless steel rods based on the demand from the target market.

The leading vendors in the market are: 

• ArcelorMittal
• EVRAZ
• Gerdau
• SHAGANG GROUP
• NSSMC

The other prominent vendors in the market are Central Wire, Emirates Steel, Fagersta Stainless, Hebei Sakaguchi Stainless Steel, and Ivaco Rolling Mills (HEICO).

Segmentation by application and analysis of the stainless steel wire rods market

• Steel wire
• Steel fasteners
• Steel bright bars

The steel wire segment accounted for the major market shares during 2016. The presence of elements such as carbon and nitrogen delivers a better flexibility and tensile strength to the stainless steel wire. The stainless steel wire finds its significance in various segment such as electrical appliances, communication devices, automobiles, and aerospace vehicles. Additionally, the use of stainless steel wires utensils, furniture, hardware, nails, screws, bolts and nuts, will also propel the growth of this market segment.

Market segmentation by geography and analysis of the stainless steel wire rods market

• APAC
• Europe
• North America

In terms of geography, APAC accounted for a major share of the stainless steel rods market during 2016. Asia is the largest producer of stainless steel wire rods across the globe, where China is leading region for the production of crude steel. Despite the high production, the rapid consumption of steel products within the country has turned the country into a leading importer of steel products. To revive from the existing imports, the government of China has initiated new investment plans to enhance productivity, which will further affect the growth of stainless steel wire rods market positively.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global stainless steel wire rods market?
• What are the key market trends impacting the growth of the global stainless steel wire rods market?
• What are the challenges to market growth?
• Who are the key vendors in the global stainless steel wire rods market?
• What are the market opportunities and threats faced by the vendors in the global stainless steel wire rods market?
• Trending factors influencing the market shares in APAC, Europe, and North America?
• What are the key outcomes of the five forces analysis of the global stainless steel wire rods market? 

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