Market Overview:
The global wire rod for steel cord market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for steel cord in various applications, such as freight cars, passenger cars, and others. In terms of type, the normal tensile segment is expected to dominate the market during the forecast period owing to its low cost and high durability as compared to other types of steel cords. However, with technological advancements in manufacturing processes and products, high tensile and super tensile segments are projected to witness higher growth rates over the forecast period. Regionally, Asia Pacific is estimated to be one of the fastest-growing markets for wire rod for steel cord due in part by rising demand from countries such as China and India.
Product Definition:
A wire rod is a long, slender piece of metal that is used to make wire. Wire rods are made out of various types of metals, including steel and copper. Steel cord is a type of wire that is made from steel wire rods. It is used in a variety of applications, including automotive tires and conveyor belts.
Normal Tensile (NT):
Normal tensile is the maximum stress a material can withstand before it breaks. The higher the normal tensile strength, the stronger and thicker wire rod for steel cord can be made without breaking apart.
The wire rods used in wires have different properties depending on their diameter and length; hence they are categorized as thin wires (below 0.38mm), medium wires (0.38-0.55mm) and thick wires (above 0.55mm).
High Tensile (HT):
High tensile wire rod for steel cord is a special type of high-tensile wires and cables with high elasticity, which can be used to make steel cords. These products are widely used in the construction industry for reinforcement purposes. The product also finds its usage in the conveyor belts and tires manufacturing sector owing to their properties such as abrasion resistance, heat resistance, flexibility at low temperatures along with good lubrication characteristics.
Application Insights:
The freight car use segment accounted for the largest revenue share in 2016 and is projected to continue leading over the forecast period. The demand for steel cord in this application is largely driven by factors such as high strength of wire, ability to withstand high stress levels, low cost and size ratio compared with other materials used for manufacturing railway cars.
Passenger car use segment also accounted significantly for revenue share purposes in 2016 owing to increasing automotive production across various regions coupled with rising per capita income levels among consumers particularly in developing countries such as China and India. Moreover, growing penetration of passenger vehicles especially trucks on account of their advantages including ease of maneuverability, flexibility & versatility along with safety features & amenities will boost product demand over the forecast period.
Regional Analysis:
Asia Pacific dominated the global wire rod for steel cord market in terms of revenue with a share of over 45.0% in 2017. This is attributed to increasing automotive production and sales, coupled with rapid urbanization across the region. In addition, rising construction activities are expected to drive product demand further.
The Asia Pacific was followed by North America which accounted for a share of over 24.0% in 2017 owing to growing vehicle production especially light weight vehicles such as electric cars and commercial vehicles including pickup trucks and vans that require high strength steel wires for manufacturing frames and body parts respectively resulting into increased demand from end-use industries such as automotive, construction, aerospace etc., thereby driving growth across this region during the forecast period from 2018 to 2030 (see Figure 1).
Growth Factors:
- Increasing demand from automotive and construction industries
- Rising disposable income of consumers in developing countries
- Technological advancements in steel cord manufacturing process
- Growing popularity of steel cord products among end-users
- Stringent government regulations for safety of vehicles and structures
Scope Of The Report
Report Attributes
Report Details
Report Title
Wire Rod For Steel Cord Market Research Report
By Type
Normal Tensile (NT), High Tensile (HT), Super Tensile (ST), Ultra Tensile (UT)
By Application
Freight Car Use, Passenger Car Use, Others
By Companies
Saarstahl, POSCO, Tokyo Rope, Nippon Steel, Kobe Steel, ArcelorMittal, Tata Steel, British Steel, Baosteel, Ansteel Group, Shagang Group, CITIC Steel, Zenith Steel Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Wire Rod For Steel Cord Market Report Segments:
The global Wire Rod For Steel Cord market is segmented on the basis of:
Types
Normal Tensile (NT), High Tensile (HT), Super Tensile (ST), Ultra Tensile (UT)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Freight Car Use, Passenger Car Use, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Saarstahl
- POSCO
- Tokyo Rope
- Nippon Steel
- Kobe Steel
- ArcelorMittal
- Tata Steel
- British Steel
- Baosteel
- Ansteel Group
- Shagang Group
- CITIC Steel
- Zenith Steel Group
Highlights of The Wire Rod For Steel Cord Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Normal Tensile (NT)
- High Tensile (HT)
- Super Tensile (ST)
- Ultra Tensile (UT)
- By Application:
- Freight Car Use
- Passenger Car Use
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wire Rod For Steel Cord Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Wire rod is made from a variety of metals, including steel. It is used to make wire rope and other metal products. Wire rod is also used in industrial processes, such as smelting and refining.
Some of the major companies in the wire rod for steel cord market are Saarstahl, POSCO, Tokyo Rope, Nippon Steel, Kobe Steel, ArcelorMittal, Tata Steel, British Steel, Baosteel, Ansteel Group, Shagang Group, CITIC Steel, Zenith Steel Group.
The wire rod for steel cord market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wire Rod For Steel Cord Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Wire Rod For Steel Cord Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wire Rod For Steel Cord Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Wire Rod For Steel Cord Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Wire Rod For Steel Cord Market Size & Forecast, 2020-2028
4.5.1 Wire Rod For Steel Cord Market Size and Y-o-Y Growth
4.5.2 Wire Rod For Steel Cord Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Normal Tensile (NT)
5.2.2 High Tensile (HT)
5.2.3 Super Tensile (ST)
5.2.4 Ultra Tensile (UT)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Freight Car Use
6.2.2 Passenger Car Use
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wire Rod For Steel Cord Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Wire Rod For Steel Cord Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Normal Tensile (NT)
9.6.2 High Tensile (HT)
9.6.3 Super Tensile (ST)
9.6.4 Ultra Tensile (UT)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Freight Car Use
9.10.2 Passenger Car Use
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Normal Tensile (NT)
10.6.2 High Tensile (HT)
10.6.3 Super Tensile (ST)
10.6.4 Ultra Tensile (UT)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Freight Car Use
10.10.2 Passenger Car Use
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Normal Tensile (NT)
11.6.2 High Tensile (HT)
11.6.3 Super Tensile (ST)
11.6.4 Ultra Tensile (UT)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Freight Car Use
11.10.2 Passenger Car Use
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Normal Tensile (NT)
12.6.2 High Tensile (HT)
12.6.3 Super Tensile (ST)
12.6.4 Ultra Tensile (UT)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Freight Car Use
12.10.2 Passenger Car Use
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Normal Tensile (NT)
13.6.2 High Tensile (HT)
13.6.3 Super Tensile (ST)
13.6.4 Ultra Tensile (UT)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Freight Car Use
13.10.2 Passenger Car Use
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Wire Rod For Steel Cord Market: Competitive Dashboard
14.2 Global Wire Rod For Steel Cord Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Saarstahl
14.3.2 POSCO
14.3.3 Tokyo Rope
14.3.4 Nippon Steel
14.3.5 Kobe Steel
14.3.6 ArcelorMittal
14.3.7 Tata Steel
14.3.8 British Steel
14.3.9 Baosteel
14.3.10 Ansteel Group
14.3.11 Shagang Group
14.3.12 CITIC Steel
14.3.13 Zenith Steel Group
