The global steel wire market size was valued at USD 91.33 billion in 2018 and is expected to reach USD 112.14 billion by 2026, exhibiting a CAGR of 2.7% during the forecast period. Increasing construction activities in the residential sector and rising government spending in emerging economies may foster market growth. Fortune Business Insights™ provides this information in its report titled “Steel Wire Market, 2019-2026.” Information Source- https://www.fortunebusinessinsights.com/steel-wire-market-102581 Segmentation Carbon Steel Segment to Dominate Owing to Rising Applications from the Construction Industry By grade, the market is segmented into carbon steel, stainless steel, and flat steel, alloy steel. The carbon steel segment is expected to dominate due to its rising applications in the construction sector. Further, technological advancements have enhanced the product’s quality, thereby facilitating segmental growth. Construction Segment to Dominate Owing to Increasing Commercial and Residential Projects As per the end-use industry, the market is classified into automotive, construction, energy, agriculture, and others. The construction segment is expected to dominate due to rising residential and commercial projects globally. Furthermore, rapid infrastructure development globally is expected to facilitate segmental growth. Regionally, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Report Coverage The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players. Drivers and Restraints Rising Focus on Infrastructure Development to Foster Market Growth Steel wire is used to reinforce and strengthen building structures. A rising focus on infrastructure development in major countries is expected to foster the demand for the material. Furthermore, increasing residential and commercial projects by private and government firms are likely to escalate the material’s demand. Moreover, the rapid development of hospitals, offices, schools, and industries is expected to foster the wire’s sales. Also, the rising adoption of steel wire for the construction of dams, towers, and bridges is expected to foster its adoption. These factors may drive the steel wire market growth. However, the rising adoption of plastic ropes compared to their steel counterpart is expected to hamper the industry’s growth. Regional Insights Strong Demand for Construction Projects to Foster Market Growth in North America North America is expected to dominate the steel wire market share due to the robust demand for construction projects. The market in North America stood at USD 8.24 billion in 2018 and is expected to gain a huge portion of the global market share in the upcoming years. These factors may propel market growth in the region. In Europe, the presence of several significant manufacturing companies is expected to bolster steel wire demand. Further, the increasing adoption of the material for automobile applications is expected to boost industry growth. In Asia Pacific, the rising focus on infrastructure development by the governments of respective countries is expected to elevate steel wire production. This factor may propel industry growth in the region. Competitive Landscape Companies Announce Novel Products to Boost Brand Image The prominent companies operating in the market announce novel products to boost their brand image. For example, WireCo. announced TURBOLITE M, 8-strand steel ropes, in March 2019. The product targets the mining industry to strengthen the weight ratio while being lightweight compared to normal steel ropes. This launch may allow the company to attract consumers and elevate its brand image. Furthermore, manufacturers devise research and development, mergers, acquisitions, partnerships, and innovations to bolster their market position. Key Industry Development July 2022: JSL shall provide nearly 3,500 stainless steel wires to the Indian railway project for the Udhampur-Srinagar-Baramula Rail Link (USBRL) Tunnel Project. List of Key Players Profiled in the Market Report ArcelorMittal (Luxembourg) Bridon-Bekaert (Belgium) The Heico Companies (U.S.) Optimus Steel (U.S.) HBIS Group Co., Ltd. (China) Kobe Steel, Ltd. (Japan) WireCo WorldGroup Inc. (U.S.) JFE Steel Corporation (Japan) Nippon Steel (Japan) Insteel Industries (U.S.) SHAGANG GROUP Inc. (China) Byelorussian Steel Works (Belarus) Ferriere Nord S.p.a. (Italy)

The exterior wall systems market size is projected to reach USD 364.61 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period. Increasing urbanization worldwide will be one of the most prominent factors fueling the growth of this market, The UN World Urbanization Prospects 2018 estimates that nearly 70% of the global population will be housed in urban areas by 2050. According to the UN, India, China, and Nigeria will be the global urban hotspots, adding 416 million, 255 million, and 189 million urban dwellers, respectively, in the next three decades. Urban areas typically comprise a large of residential and commercial infrastructures that require efficient and effective external protection from inclement weather, natural disasters, and pollution. Exterior wall systems provide this protection to buildings owing to their properties of thermal insulation and the ability to prevent excessive water penetration that can weaken structural integrity. Thus, rapid growth in urban spaces around the globe will create excellent opportunities for players in this market. Information Source - https://www.fortunebusinessinsights.com/exterior-wall-systems-market-104394 The report states that the global market value was at USD 213.45 billion in 2019 and offers the following: Detailed evaluation of the market trends, drivers, and restraints; Granular examination of the different market segments; Careful study of the regional and competitive developments influencing the market growth; and Panoramic overview of the overall industry outlook and prospects. Restraining Factor Subdued Construction Activities amid COVID-19 to Restrict Market Growth The exterior wall systems market growth is expected to get hit in 2020 as the COVID-19 pandemic has caused a severe downturn in construction activities worldwide. In August 2020, the London-based Royal Institution of Chartered Surveyors (RICS) reported that only 20% of the halted construction projects around the globe are likely to restart in the post-pandemic period. Furthermore, with a quarter of the construction projects on pause and on-site productivity falling by 12%, the RICS predicts that the financial repercussions of these developments will have to be borne by the construction industry over the next twelve months. The demand for exterior wall systems will inevitably be in the face of such dire circumstances as these products are heavily dependent on the construction industry, especially in emerging economies such as India and China. Moreover, falling demand and the economic fallout of the pandemic have delayed investments in new construction technologies, which will create hindrances for this market. Regional Insights Infrastructural Development Enables Rapid Market Expansion in Asia Pacific With a market size of USD 86.45 billion, Asia Pacific commanded the exterior wall systems market share in 2019 and is expected to continue its exceptional performance during the forecast period. This expectation from the region is based on the massive investments by governments in India and China to support infrastructural development. More specifically, these countries are aggressively implementing policies and adopting advanced technologies to build sustainable critical infrastructures such as airports and railways, which is likely to spike the demand for exterior wall systems in the region. In Europe, favorable policies of the European Union (EU) supporting the construction of energy-efficient buildings in the continent are accelerating market growth in the region. In North America, speedy uptake of highly sophisticated construction technologies and materials will propel regional market growth. Competitive Landscape Development of Sustainable Insulation Solutions by Key Players to Augment Market Potential Key players in this market are concentrating their resources and technologies towards developing next-gen, sustainable exterior and interior insulation solutions for the construction industry. To further enhance their R&D capacity, companies are also forging alliances with other players as well as engaging in acquisition activities. Industry Development: September 2020: Saint-Gobain announced the takeover of the Dutch external insulation specialist, Strikolith. The acquisition will allow Saint-Gobain to expand its offerings in External Thermal Insulation Composite Systems and construction chemicals in the Netherlands. List of Key Companies Profiled in the Exterior Wall Systems Market Report: Dow (U.S.) USG Boral (Australia) Evonik Industries AG (Germany) Etex Group (Belgium) 3A Composite Holding AG (Switzerland) Saint-Gobain (France) Sika AG (Switzerland) DuPont (U.S.) LafargeHolcim (Switzerland) Owens Corning (U.S.) SCG (Thailand) PPG Industries, Inc. (U.S.) AGC Inc. (Japan) Nippon Sheet Glass Co., Ltd (Japan)

The global steel wire market size was valued at USD 91.33 billion in 2018 and is expected to reach USD 112.14 billion by 2026, exhibiting a CAGR of 2.7% during the forecast period. Increasing construction activities in the residential sector and rising government spending in emerging economies may foster market growth. Fortune Business Insights™ provides this information in its report titled “Steel Wire Market, 2019-2026.” Information Source- https://www.fortunebusinessinsights.com/steel-wire-market-102581 Segmentation Carbon Steel Segment to Dominate Owing to Rising Applications from the Construction Industry By grade, the market is segmented into carbon steel, stainless steel, and flat steel, alloy steel. The carbon steel segment is expected to dominate due to its rising applications in the construction sector. Further, technological advancements have enhanced the product’s quality, thereby facilitating segmental growth. Construction Segment to Dominate Owing to Increasing Commercial and Residential Projects As per the end-use industry, the market is classified into automotive, construction, energy, agriculture, and others. The construction segment is expected to dominate due to rising residential and commercial projects globally. Furthermore, rapid infrastructure development globally is expected to facilitate segmental growth. Regionally, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Report Coverage The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players. Drivers and Restraints Rising Focus on Infrastructure Development to Foster Market Growth Steel wire is used to reinforce and strengthen building structures. A rising focus on infrastructure development in major countries is expected to foster the demand for the material. Furthermore, increasing residential and commercial projects by private and government firms are likely to escalate the material’s demand. Moreover, the rapid development of hospitals, offices, schools, and industries is expected to foster the wire’s sales. Also, the rising adoption of steel wire for the construction of dams, towers, and bridges is expected to foster its adoption. These factors may drive the steel wire market growth. However, the rising adoption of plastic ropes compared to their steel counterpart is expected to hamper the industry’s growth. Regional Insights Strong Demand for Construction Projects to Foster Market Growth in North America North America is expected to dominate the steel wire market share due to the robust demand for construction projects. The market in North America stood at USD 8.24 billion in 2018 and is expected to gain a huge portion of the global market share in the upcoming years. These factors may propel market growth in the region. In Europe, the presence of several significant manufacturing companies is expected to bolster steel wire demand. Further, the increasing adoption of the material for automobile applications is expected to boost industry growth. In Asia Pacific, the rising focus on infrastructure development by the governments of respective countries is expected to elevate steel wire production. This factor may propel industry growth in the region. Competitive Landscape Companies Announce Novel Products to Boost Brand Image The prominent companies operating in the market announce novel products to boost their brand image. For example, WireCo. announced TURBOLITE M, 8-strand steel ropes, in March 2019. The product targets the mining industry to strengthen the weight ratio while being lightweight compared to normal steel ropes. This launch may allow the company to attract consumers and elevate its brand image. Furthermore, manufacturers devise research and development, mergers, acquisitions, partnerships, and innovations to bolster their market position. Key Industry Development July 2022: JSL shall provide nearly 3,500 stainless steel wires to the Indian railway project for the Udhampur-Srinagar-Baramula Rail Link (USBRL) Tunnel Project. List of Key Players Profiled in the Market Report ArcelorMittal (Luxembourg) Bridon-Bekaert (Belgium) The Heico Companies (U.S.) Optimus Steel (U.S.) HBIS Group Co., Ltd. (China) Kobe Steel, Ltd. (Japan) WireCo WorldGroup Inc. (U.S.) JFE Steel Corporation (Japan) Nippon Steel (Japan) Insteel Industries (U.S.) SHAGANG GROUP Inc. (China) Byelorussian Steel Works (Belarus) Ferriere Nord S.p.a. (Italy)