Mining, Minerals and Metal market

Steel wire are used in a various of end-use industries, including construction, automotive, energy, agriculture, industrial, and others. It possesses high strength, scrub resistance, and good conductivity, which makes it useful in applications such as wire for tires, hoses, galvanized wires and strands, ACSR strands, and armoring of conductor cables, springs, fasteners, clips, staples, mesh, fencing, screws, nails, barbed wires, chains, etc. However, amidst the global COVID-19 pandemic, the demand for steel wires from the industries mentioned above is expected to show a sharp decline. The global steel wire market size is expected to grow from USD 93.2 billion in 2020 to USD 124.7 billion by 2025, projecting a CAGR of 6.0 % during the forecast period between 2020 and 2025. APAC accounts for the biggest share of the global steel wire market. The construction and automotive end-use industry are major consumers of steel wire in the region. The region is home to some of the major steel wir