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The report’s authors have offered necessary details on the latest Steel Wire Market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Steel Wire Market entails useful insights into the estimated Steel Wire Market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future.
The global steel wire market size reached USD 98.96 Billion in 2021 and is expected to register a revenue CAGR of 5.5% during the forecast period, according to latest analysis by Emergen Research. Significant investments in construction of fences for various applications and purposes is a major factor driving market revenue growth. In addition, initiatives being undertaken by government bodies to install restraints to avoid human-animal conflicts and need to change fences from time to time are driving revenue growth of the market. Steel wires are preferred for fence construction due to ease of installation, visibility, and durability. One of the key properties of wire fencing is the freedom to customize and configure as per requirements. Also, companies invest in production equipment to manufacture different styles and finishes, and steel wires made from galvanized steel are more cost-effective and fences deployed with a combination of steel with wood posts for enhanced durability are more preferred.
However, wide availability of plastic and hybrid ropes as a replacement for steel ropes is a major factor restraining market revenue growth. Steel ropes are used in the construction of cranes, elevators, and others but due to disruptions in the supply chains and cost-effectiveness associated with the manufacturing of plastic and hybrid ropes, small & medium-scale industries are shifting towards the aforementioned alternatives. In addition, replacing steel ropes with plastic ropes has significantly reduced the weight of products, provide better stability, and reduced equipment load. Moreover, plastic ropes can withstand harsh environmental conditions and tolerate conditions during installation, handling, and equipment maintenance.
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Competitive Landscape:
The report emphasizes the demands and trends for the Steel Wire market in the global market, more importantly, in the market that is spread across the major regions of the country. These major regions include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The Steel Wire market is further segmented on the basis of product types offered in the market, application spectrum, leading manufacturers/companies, and key geographical regions.
The major companies Covered in the report are:
ArcelorMittal, HBIS Group, Nippon Steel Corporation, Bekaert, Tata Steel, JSW Steel, Kobe Steel, Ltd., JFE Steel Corporation, Heiko Companies, Insteel Industries, Inc., Fagersta Stainless AB, and GP Steel Manufacturing SA
Significant Features of the Steel Wire Market Report:
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The Steel Wire market offers strategic insights that provide fruitful information to the readers to help them capitalize on the business offerings. Market share data is also available on a global and regional level.
Segments Covered in this report are:
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2022–2030
Chapter 3. Key Insights
Chapter 4. Steel Wire Market Segmentation & Impact Analysis
4.1. Industrial Outlook
4.1.1. Market indicators analysis
4.1.2. Market drivers’ analysis
4.1.2.1. Rising focus on development of sustainable and eco-friendly products
4.1.2.2. Increasing adoption of water based adhesives in packaging and footwear industries
4.1.2.3. Increasing usage of acrylic dispersion adhesives in the construction industry
4.1.3. Market restrains analysis
4.1.3.1. Low storage capability due to perishability
4.1.3.2. High competition from hot melt adhesives
4.2. Technological Insights
4.3. Regulatory Framework
4.4. Porter’s Five Forces Analysis
4.5. Competitive Metric Space Analysis
4.6. Price Trend Analysis
4.7. Covid-19 Impact Analysis
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