Tremendous growth in developing economies, particularly China and India is fuelling market growth. Backed by various favorable trends, the steel wire market is projected to reach $23.7 billion in 2012.
San Jose, CA (PRWEB) April 21, 2008 -- The steel industry's business cycles reflect the general economic activity of a nation. Steel wire being a part of steel industry is highly dependent on the buoyancy of its end-use industries. Conditions in construction and automotive industries largely determine demand for wire products worldwide. Rampant economic expansion in China has catapulted the nation as the largest and fastest growing consumer of steel and steel products in the world. Growing investment in infrastructure and higher disposable incomes in several developing economies are key factors driving growth in steel and its derivative products.
Steel wire market in Asia-Pacific is estimated at $9.4 billion, as stated by Global Industry Analysts, Inc. Asia-Pacific and Europe collectively account for more than 70 percent of the global steel wire market. European carbon steel wire market is expected to reach $4.6 billion by 2010. Global market for alloy steel wires is expected to grow at a compounded annual rate of 4% over the period 2001-2010. Asia-Pacific accounts for about 43% of the global stainless steel wire market.
The global marketplace includes participants such as Arcelor Mittal, Bridon, Carrington Wire, Davis Wire Corp, Insteel Industries, Ivaco Inc, Kobe Steel, Leggett & Platt, NV Bekaert, Pohang Iron & Steel, Steel Authority of India, Tata Steel, Tree Island Industries and Wire Rope Industries.
"Steel Wire: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, drivers, product profile, players, competitive landscape, technological developments, recent developments, mergers, acquisitions, alliances and other strategic industry activities. Analysis is presented for major geographic markets including United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Analytics for the period 1991-2015 are provided in terms of product segments including Carbon Steel Wire (Plain, Plated /Coated with Zinc and Other Coated), Alloy Steel Wire (Plain and Coated), and Stainless Steel Wire (Round and Others).
For more details about this research report, please visit
http://www.strategyr.com/Steel_Wires_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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