Steel Wire Rods Market to Surpass US$125.48 Billion by 2031, Fuelled by Demand for Steel Wire Rods — Latest Industry Research by The Insight Partners.

Expanding global construction and infrastructure investments, growing automotive, machinery, and engineering industries, and rising demand for high-tensile and specialty steel products accelerate demand for Steel Wire Rods

New York, Feb. 19, 2026 (GLOBE NEWSWIRE) -- A new comprehensive market research report published by The Insight Partners, reveals that the Global Steel Wire Rods Market is projected to grow from US$ 94.22 billion in 2024 to US$ 125.48 billion by 2031, registering a CAGR of 4.3% during the forecast period from 2025 to 2031.

Market Growth Highlights:

• Market Projection: Global Steel Wire Rods Market expected to reach US$ 125.48 billion by 2031. 

• Automotive and infrastructure projects, including federal programs, sustain demand amid rising residential housing needs are the key trends in the US market.
• Expansion Opportunities: IRA/CHIPS reshoring opens North American capacity investments, Asia-Pacific industrialization offers export growth for premium rods, and Green steel innovations attract premium pricing in eco-focused segments.
• Future Trends: EV battery enclosures spur high-strength wire adoption in autos, and sustainable low-carbon production gains traction under US policies.
• Asia-Pacific holds largest volume share via urbanization and industrial output.

• Key Segment: Construction remains dominant, while IT and telecom exhibit the highest CAGR (41.33%). 
  

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Steel wire rod consumption for tire cords, springs, and fasteners is rising rapidly due to US manufacturing reshoring under the influence of CHIPS Act and IRA. Domestic semiconductor fabs and battery giga factories call for strong wire reinforcements, while carbon steel grades make up 60% of EV structural components in the presence of $52B incentives till 2030. Post-2025 EV slowdown, hybrids and advanced ICE trucks dominate, boosting cold-heading quality rods for high-strength bolts in Ford's $4B plants and GM's V8 upgrades. Tire cord usage surges 10% yearly as radial designs for 40-inch rims demand 0.8mm high-carbon wires.

Market growth is fuelled by ongoing innovations in metallurgical techniques and manufacturing methods:

Digitization has been the key in the transformation of steel plants with the help of Industry 4.0 tools, including predictive analytics, IoT, based sensors, and smart process controls that not only significantly improve energy efficiency but also help in waste reduction and production of consistent product performance. The producers can take advantage of these evolutions to satisfy the increasing demand for high-grade and specialty wire rods, which find applications in aerospace, automotive, construction, and energy sectors.

Besides that, labor cost reduction and safety standards enhancement become possible through automated coil handling, quality inspection systems, and robotic assembly. Using cutting-edge production technologies, companies can progress along different segments of the value chain, which has the effect of increasing their profits as well as their ability to compete successfully. New technologies like hydrogen-based steelmaking and electric arc furnace modernization not only offer the chance to produce low-carbon wire rods but also help to align with worldwide sustainability objectives. As industries continue to demand stronger and more reliable steel products, technological innovations offer manufacturers an opportunity to capture new markets and expand globally.

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Major Steel Wire Rods Companies Include:

• JSW Steel Ltd
• Tata Steel Ltd.
• ArcelorMittal SA
• Nippon Steel Corp
• Posco Holing In.
• JFE Steel Corp.
• Steel Authority of India Ltd.
• Jiangsu Shagang Group Co. Ltd.

Steel Wire Rods Market Segmentation Analysis:

Energy and Power Segment to Grow at the Highest CAGR

The energy and power segment utilizes steel wire rods primarily for structural and reinforcement roles in transmission infrastructure, including galvanized steel cores in ACSR (Aluminum Conductor Steel Reinforced) conductors, guy wires for poles/towers, and support cables for substations. High tensile strength enables long-span overhead lines, wind turbine guy ropes, grounding rods, and reinforcements in pipelines/oil rigs, enhancing grid stability amid extreme weather and mechanical stresses. Renewable energy expansion drives demand, particularly for wind turbines requiring durable steel ropes and fasteners, alongside power grid upgrades and electrification projects.

Construction to Hold the Largest Market Share

Construction is the single largest end-use segment for steel wire rod, where it supports reinforcement of concrete, masonry, and structural systems through products such as welded mesh, small diameter rebars, stirrups, nails, tie wire, and various fastening and anchoring elements. Due to the combination of its high tensile strength, ductility, and weldability, steel wire rod has become indispensable to the construction of modern skyscrapers, bridges, industrial facilities, and earthquake resistant buildings, and the contribution of steel wire rod keeps growing as prefabricated elements, cut and bend services, and engineered mesh solutions that require consistent quality and customized mechanical properties become more widely used. The development of infrastructures in emerging countries and the refurbishment of aging assets in the developed world maintain the construction sector as a volume base for rod producers and, at the same time, a main target for the suppliers of advanced corrosion resistance, fatigue performance, and low carbon steel products.

Asia Pacific region to Witness the Fastest Growth:

Asia Pacific is expected to record the fastest growth in the global Steel Wire Rods Market during the forecast period. This growth is supported by:

• High investment in steel wire rods across India, China, and South Korea
• Growing adoption of steel wire rods in various sectors
• Expanding Global Construction and Infrastructure Investments

Asia Pacific at present takes the lead as the biggest and most dynamic market growing at highest CAGR, with China's industry gradually stabilizing, India's infrastructure witnessing a major growth and urban corridors of Southeast Asia being in extreme need of large quantities of materials for highways, metros, high, rises, and components of EV/renewable. Europe meanwhile put its strength in the production of premium, low carbon grades as a result of the EU decarbonization policy. Therefore, automotive precision engineering, grid renovations, wind turbines, and the circular economy, are being supported through hydrogen steelmaking and EAF upgrades.

Steel Wire Rods Market Dynamics:

Driver: Expanding Global Construction and Infrastructure Investments

The rapid expansion of global construction and infrastructure projects drives the steel wire rods market. Developing economies in Asia, Africa, and Latin America are investing heavily in transportation networks, residential housing, renewable energy installations, and smart city programs. Steel wire rods serve as fundamental feedstock for producing reinforcing wires, mesh, fasteners, prestressed concrete strands, and fencing materials—products heavily used in structural development. As governments accelerate public–private partnerships (PPPs) and infrastructure renewal—including bridges, highways, power grids, and water systems—the demand for steel wire-based components rises steadily.

Opportunity: Increasing Technological Advancements in Metallurgy and Production Processes

Digitization across steel plants—through Industry 4.0 tools such as predictive analytics, IoT-based sensors, and smart process controls—improves energy efficiency, reduces waste, and ensures consistent product performance. These advancements enable producers to meet the growing demand for high-grade and specialty wire rods used in aerospace, automotive, construction, and energy sectors.

Challenge: Environmental Regulations and High Carbon Emission Standards

Producing steel wire rods involves energy-intensive processes such as melting, rolling, and heat treatment. Restrictive environmental norms require companies to invest heavily in pollution control technologies, renewable energy integration, and low-emission production methods. These investments increase operational and compliance costs, particularly for smaller manufacturers.

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Recent Developments:

• In May 2025, APAR Industries announced a total investment of Rs 1,300 crore to support its business expansion plans. Of this, Rs 800 crore is allocated to the cable division, Rs 300 crore to the conductor division (including the manufacture of rods for cables), and Rs 200 crore to the oil division. With these strategic investments, the company aims to double its revenue from the current Rs 5,000 crore to approximately Rs 10,000 crore within the next 12-15 months.
• In February 2025, Apar Industries Limited announced plans to establish an additional aluminum rod processing line with an investment of Rs 37.57 crore. The new facility will support the production of conductors and cables, boosting the company’s aluminium rod manufacturing capacity by 42,000 metric tonnes per annum (MTPA). This expansion aims to strengthen Apar Industries. production capabilities and meet the growing demand in the power and cable sectors.

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About The Insight Partners

The Insight Partners is a global market research and consulting firm delivering in-depth analysis and actionable insights across technology, media, telecommunications, healthcare, and industrial sectors. The firm supports organizations in identifying growth opportunities, understanding market dynamics, and making informed strategic decisions.

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