Wire Rod Market Worth Nearly $2 Billion, Globally, by 2028 at 3.3 …

Wire Rod Market Worth Nearly £2 Billion, Globally, by 2028 at 3.3% CAGR | The Insight Partners

Pune, INDIA., April 03, 2023 (GLOBE NEWSWIRE) — According to our new research study on ” Wire Rod Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material, Industry, and Geography,” the market is expected to grow from US£ 1,621.27 million in 2022 to US£ 1,965.21 million by 2028; it is estimated to register a CAGR of 3.3% from 2022 to 2028.

Download PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00029840/

Global Wire Rod Market Growth Drivers:
Construction and Infrastructure: The demand for wire rods is driven by the construction and infrastructure industry, as they are used in the production of construction materials such as reinforced concrete, steel wire, and fencing. With growing population and urbanization, the demand for wire rods in construction and infrastructure is expected to increase.
Automotive Industry: Wire rods are used in the production of automotive components such as engine valves, suspensions, and bearings. The growth of the automotive industry is directly linked to the growth of the wire rod market.
Manufacturing Industry: Wire rods are used in the manufacturing of a wide range of products, including bolts, nuts, screws, and nails.

The demand for these products is expected to increase as the manufacturing industry continues to grow.
Electrical Industry: Wire rods are used in the production of electrical cables and wires, which are used in various industries such as power, telecommunications, and electronics. As the demand for electricity and electronic products continues to rise, the demand for wire rods in the electrical industry is expected to increase.
Agriculture Industry: Wire rods are used in the production of fencing and other agricultural products, which are essential for the agriculture industry. With the growing population, the demand for food is expected to increase, which will drive the growth of the wire rod market in the agriculture industry.

Purchase Premium Copy of Wire Rod Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00029840/

The construction projects of commercial, industrial, and residential buildings are growing across the world, majorly in developing countries such as China, India, Malaysia, Poland, Saudi Arabia, and the UAE.

This factor is projected to fuel the demand for products such as wires, wire ropes, wire and cables in various electrical and electronic applications. Hence, with rising construction activities, the scope of using different wire rods will endure to boost. For instance, in February 2023, Vedanta Aluminium introduced 12 mm aluminium wire rod for electrical industry at International Aluminium Conference (IAC) 2023.

These wire rods are developed by using continuous casting technology. Increase in the construction of industrial plants including electrical industries will propel the scope of wire rod and thereby fueling the wire rod market growth.

Several government initiatives are supporting the growth of the housing industry. For instance, in February 2021, according to the Yonhap News Agency website, the South Korean government announced that they would ease building regulations and support redevelopment projects in urban areas of the country by supporting the construction of 836,000 new houses nationwide.

Also, the new housing policy by the government focuses on increasing the number of houses in the Seoul metropolitan area and other major cities. According to the Ministry of Land, Infrastructure, and Transport of South Korea, the latest policy consists of constructing 323,000 and 293,000 new houses in Seoul and Gyeonggi Province, respectively. In September 2021, the Egyptian government announced the construction of 37 new smart city projects with an initial investment of US£ 20 billion in an area of 40,000 feddans (16,800 ha).

Global Wire Rod Market: Impact of COVID-19 Pandemic
Germany, Italy, the UK, Russia, France, and Spain were the most-affected countries by the onset of the COVID-19 pandemic.

Governments in the region imposed various regulations to curb the spread of the novel coronavirus infection. Several countries in Europe witnessed an economic hit and a decline in industrial activities in Q2 of 2020. Many European countries particularly closed their borders and implemented drastic measures on the imports and exports of goods.

These measures have drastically affected the aviation industry in Europe. However, in Q3 of 2021, the government lifted restrictions. Thus, the aviation and automotive industries restarted their operations.

Market players in the aviation industry such as Airbus SE, BAE Systems Plc, Thales SA, and Safran SA resumed their aircraft manufacturing operations. Also, it is seen that air passenger traffic is increasing tremendously in European countries, which is further raising the demand for expansion of the existing airports, construction of new airports, and manufacturing of aircraft. Therefore, the demand for wire rods will rise for communication, data transfer, and power conductivity purpose, which will fuel the wire rod market growth during the forecast period.

Global Wire Rod Market: Material Overview
Based on material, the wire rod market size is bifurcated into copper and aluminum.

The copper segment accounted for a larger share of the market in 2022. Copper wire rod provides high conductivity and formability, as well as are ideal for extrusion applications. Backed by the benefits provided by copper wire rod, copper wires are used in switch gears, transformers, and many other electrical applications.

Moreover, with rising demand for products such as gaskets, flashlights, handicraft, terminals, metal zip, metal forming, connectors, lamp caps, electronic components, electrical fittings, hardware, telecommunications, domestic appliances, plumbing products, springs, locks, and automotive radiator, the scope of using copper wire rod will endure to drive the growth of the segment.

Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00029840/

Global Wire Rod Market: Competitive Landscape and Key Developments
Mitsubishi Materials Trading Corp, APAR Industries Ltd, Hindalco Industries Ltd, Norsk Hydro ASA, Leebo Metals Pvt Ltd, Sumitomo Electric Industries Ltd, Vedanta Aluminium and Power Ltd, United Co RUSAL Plc and Vimetco NV are among the key wire rod market players operating in the industry. During this study, several other wire rod market players were analyzed to get a holistic view of the wire rod market size and its ecosystem.

In 2022, to expand its product range, JSP announced the offering of wire rods in 5.2 mm to 22 mm diameters from its first unit at the proposed 6 MTPA capacity integrated steel plant at Patratu, Jharkhand.

In 2021, Hindalco Industries Ltd, the metals flagship firm of Aditya Birla Group, announced that it is set to acquire a 100% stake in Ryker Base Pvt. Ltd, a wholly owned subsidiary of Polycab India Ltd.

Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Wire and Cable Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Cable, Wire, and Push-Pull Controls) and End Use Industry (Aircraft, Transportation, Medical, Marine, and Construction)

Stainless Steel Wire Rods Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Composition (Carbon Steel Wire, Alloy Steel Wire, Stainless Steel Wire); Type (6mm, 8mm, 10mm, Others); Application (Automotive Components, Mechanical Equipment, Port Cranes, Elevators); End-Use Industry (Oil and Gas, Mining, Building and Construction, Marine, Automobile, Others) and Geography

Wire Harness Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Wire Harness Connector, Wire Harness Terminal, and Others), Material (PVC, Vinyl, Thermoplastic Elastomer, Polyurethane, and Polyethylene), and End User (Automotive, Marine, Aerospace and Defense, Consumer Durables, Medical, Agriculture, Industrial, and Others)

Lightning Rod Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Direct lightning strike lightning rod, Special lightning rod, Early pre-discharge lightning rod); Application (Commercial, Industrial, Residential) and Geography

Rod End Joint Bearing Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Sliding Surface, Angular Contact, Others); Application (Forging Machine, Hydraulic Cylinder, Engineering Machinery, Other) and Geography

Graphite Electrode Rod Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Regular Power (RP) Graphite Electrodes, High Power (HP) Graphite Electrodes, Ultra High Power (UHP) Graphite Electrodes); Application (Electric ARC Furnace Steel, Others) and Geography

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence.

We help our clients in getting solutions to their research requirements through our syndicated and consulting research services.

We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: [email protected]
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/wire-rod-market

Primary Logo

costa-coffee listed on couponmatrix.ukcoverforyou listed on couponmatrix.ukdarlings-of-chelsea listed on couponmatrix.ukfree-people listed on couponmatrix.ukoxygen-freejumping listed on couponmatrix.ukseven-store listed on couponmatrix.uk
costa-coffee listed on couponmatrix.ukIs there anything better than a good cup of coffee? Like a little hug in a mug, a nice coffee can turn a bad day into a good day in just a few quick sips, and nobody does coffee better than Costa. If you’re after a delicious deal on an incredible coffee then check out our Costa vouchers and see if you can’t just save a pretty penny on your favourite hot beverage. Whether you love a latte or crave a cappuccino, Costa has you covered.
coverforyou listed on couponmatrix.ukRather than worry over worst-case scenarios, opt to protect your property with CoverForYou, the online insurance providers where customers always come first. Whether you need to insure travel plans, your phone, laptop or a hire car, a CoverForYou discount code will guarantee you top value on comprehensive cover during your tenure. Named Best Travel Insurance Provider by Forbes in 2022, rest assured you’re protected by the best in the business with CoverForYou.
darlings-of-chelsea listed on couponmatrix.ukThere’s no place like home, and the way we decorate and furnish our homes says a lot about us. What we can all agree on is that we want to be comfortable: if you can combine that with timeless style then you are onto a winner. Darlings of Chelsea can do just that with a beautiful selection of home furnishings for you to choose from. As if that wasn’t good enough, we can offer you discount codes and offers that will help to save you money. Comfort, style and savings are the perfect trifecta to build a happy and enjoyable home. Who are Darlings of Chelsea? Darlings of Chelsea are a UK based, award winning home furnishing store. Combining design and great customer services, they pride themselves on being able to provide exactly what you are looking for. Offering fine British craftsmanship on the majority of their products, Darlings of Chelsea also offer bespoke, tailor-made products that their customers can proudly display in their homes knowing that they are one of a kind. They also carry a range of designer products that they take pride in offering at some of the most reasonable prices on the market. They are so confident of their pricing that they will do their best to beat any item found locally that is priced better.
free-people listed on couponmatrix.ukFill your wardrobe with free-spirited fashion at Free People. From breezy dresses to trendy layering tops, Free People’s clothing is all about comfort and boho vibes. With up to 50% discounts on skirts, shirts and dresses in the Free People sale plus free delivery on orders over £100, there are plenty of ways to shop at Free People on a budget. Make your shopping spree more affordable using a Free People discount code from Groupon. We’re constantly updating our page with the latest offers, so you can save money on your favourite clothes, fancy footwear and innovative beauty products.
oxygen-freejumping listed on couponmatrix.ukBounce, spin and flip your way through hours of fun at Oxygen Freejumping, the trampoline park for people of all ages. With four unique and colourful parks to enjoy throughout the country, find your local freejumping centre and get a great deal on your first booking with an Oxygen Freejumping promo code. With kids classes, annual passes and enough capacity for parties, it’s the perfect spot to bounce off some steam.
seven-store listed on couponmatrix.ukSeven Store is an online retailer that specialises in producing a wide variety of clothing and accessories. From New Balance sneakers to The North Face jackets, discover the wardrobe must-haves you never knew you needed before using a Seven Store discount code to make it yours for less. With branded scarves, sunglasses and other accessories to finish any outfit, prepare to look your finest with Seven Store. At Groupon, we know that feeling when your wardrobe is in dire need of an update but your bank balance says otherwise. However, thanks to our discount codes for Seven Store, you can shop 'til you drop and feel fabulous doing so without breaking the bank. Keep checking back here for the latest and greatest Seven Store discount codes so you can grab a bargain on your next purchase! If you're looking for a discount on your next Seven Store purchase, be sure to check out our vouchers page. We've got a great selection of Seven Store vouchers that can be used on a wide variety of clothing lines, from insulated bathrobes through to Converse All Stars. Whether you're after a new pair of jeans or a stylish jacket, make Seven Store your go-to destination and save yourself some money while you're at it!