Steel Wire Market: By Form (Non-rope, Rope), By Type (Carbon Steel, Alloy Steel, Stainless Steel), By Thickness (0.01 mm to 0.8 mm, 0.8 mm to 1.6 mm, 1.6 mm to 4 mm, 4 mm & above), By End User (Construction, Automotive, Energy , Agriculture, Industrial, Others) and By Geography

Steel Wire Market size was valued at USD 98,930.6 million in 2022 and is expected to reach a value of USD 150,30.9 million by 2029, growing at a CAGR of 6.2% during the forecast period 2023 to 2029. The global market provides a detailed overview of the steel wire market and that can be segmented by form, type, thickness, and end-user. By form, the steel wire market has been segmented into non-rope and rope. The non-rope segment is likely to be the largest and fastest-growing segment in terms of form. Based on type, the steel wire market is segmented into carbon steel, alloy steel, and stainless steel. Among these, the carbon steel segment is expected to have the fastest-growing market during the forecast period 2023-2029. On the basis of thickness, the market is segmented into 0.01 mm to 0.8 mm, 0.8 mm to 1.6 mm, 1.6 mm to 4 mm, and 4 mm & above. Among these, the 0.01 mm to 0.8 mm segment is expected to have the fastest-growing market during the forecast period 2023-2029. By end-user, the market is segregated into construction, automotive, energy, agriculture, industrial and others. The construction segment is likely to be the largest and fastest-growing segment in the market.

Steel Wire Market Key Developments:

• In Jan 2019, Byelorussian Steel Works has contracted to supply 32.8 thousand tons of steel cables to a Continental firm (Germany). This deal improved the company's capacity to stay competitive in the industry.