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:
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 Regions:
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The following is the TOC of the report:
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
5.1. 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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