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

Tags:

crafters-companion listed on couponmatrix.ukinsure-4-a-day listed on couponmatrix.ukmicrosoft-store listed on couponmatrix.ukmotoin listed on couponmatrix.uknordictrack listed on couponmatrix.ukpost-office listed on couponmatrix.uk
crafters-companion listed on couponmatrix.ukThere is nothing like making something yourself rather than buying it ready-made at a store. The pride washes over you as you sit in a pile of glitter and crepe paper holding up your hand-made gift for your mother on Mothers day. Get your craft on and save money with Groupon's Cafter's Companion discount codes. Founded by Sara Davies (nee Johnson) who graduated from the University of York Management School with first class honours. Crafter's Companion was formed in September 2005. It now has an office in the North-East of England, as well as in California, USA, from where the American side of the business is conducted. Since the launch of the Enveloper, which Sara designed and developed with the help of her father, the company has rocketed. Numerous awards have been won by Sara individually, and by the company as a whole, both in the crafting industry and the business world in general. Innovative products such as the Ultimate Pro and the Rock-a-Blocks have changed the world of crafting and encouraged greater numbers of people into papercrafting. The company has a simple aim of making papercrafting a fun and simple process, and so all products are made with this in mind. For example the extensive range of CD ROMs, which have spear-headed the rise in digital crafting, are made to a 'point-and-click' specification, meaning that even those who are computer illiterate are able to use them. Sara is a regular guest on Ideal World and Create & Craft shopping channels, and also appears on the Home Shopping Network (HSN) in America, Home Shopping Europe (HSE) in Germany, and The Shopping Channel in Canada Time to order the pinking shears, the glitter glue and coloured paper and make a start on some home-made projects. Save money by using Groupon's promo codes.
insure-4-a-day listed on couponmatrix.ukIf you're on the hunt for great-value temporary and short term car hire, you'll love Insure 4 a Day. Providing up to 28 days of instant comprehensive cover, you can start your short break or road trip adventure right away. What's more, when you apply a Insure 4 a Day promo code to your purchase, you can stay safely covered for even less. Insure 4 a Day is the ideal solution for covering additional drivers and for topping up cover for learner drivers too!
microsoft-store listed on couponmatrix.ukMicrosoft is a software and hardware giant, famed for its Windows operating system and range of Xbox gaming consoles. It also produces mobile devices, such as the Windows Surface, a hybrid tablet and laptop device, and the Microsoft Lumia range of mobile phones. Look out for a Microsoft promo code to use on the Microsoft Surface Range, the Xbox One range, Microsoft Office and Microsoft Windows, allowing you to get the latest technology and software at the best possible prices.
motoin listed on couponmatrix.ukMotoin vouchers lead to savings on a full range of moto-related products. Motoin has been the go-to website for motorcyclists for over a decade now, and their stock of parts, accessories and clothing is made up of over 100,000 items. Available to view in various languages and currencies, and with worldwide shipping, the website is truly an international interest with customers surfing the virtual showroom from all over the globe. Use our special motoin voucher codes to help keep your wallet feeling just as heavy as your shopping cart. Founded in 2007 by two passionate riders with strong backgrounds in e-commerce and motorcycle accessories, motoin is a real labour of love for the pairing. Calling on their former experience and knowledge, the partners strive to provide their customers with brilliant service and top-quality, reliable products. Boasting a physical showroom as well as an easy-to-navigate website, motoin caters to both road and off-road riders. Throttle jockeys can find everything from protective riding gear and helmets to sports apparel and bike parts, with featured brands including Alpinestars, Dainese, Scott, Arai and Thor. The vast range is backed up by great price offers, a simple ordering and delivery process, several payment options and easy returns. Purchases can be made all the sweeter by reducing your total spend with motoin discount codes from Groupon. Make your next trip down the road or to the track or trail an exciting one with some new gear for yourself or some trick parts for your bike. Pick the voucher that best suits your needs and head over to motoin to make it happen. But remember… keep it rubber side down.
nordictrack listed on couponmatrix.ukForget trips to the gym, NordicTrack has all you need to get fitter and healthier without stepping outside. Specialising in the production of the top-of-the-line treadmills, bikes, elliptical and other exercise equipment, NordicTrack sets the bar for home workouts. Be sure to bring along a NordicTrack discount code when browsing to knock a three-digit figure off your purchase, leaving you with a top-notch exercise tool and plenty of spare change in the bank.
post-office listed on couponmatrix.ukThe chances are, you’re already fairly familiar with the Post Office. A true British bastion, the Post Office is a company you know you can rely on to get your post where you want it to go. When you’re sending some mail, check out our Post Office vouchers and see if you can’t just save yourself a pretty penny. From Lands End to John O’ Groats, Post Office is a company you can trust to deliver your mail.