Stainless Steel Wire & Wire Rod Market to hit US$11,237.22 million by 2032 | Top 5 Companies are Outokumpu Oyj, Alleima, Walsin Lihwa Corporation, Kobe Steel, Ltd., Tsingshan Holding Group

global stainless steel wire & wire rod market reached US$6,600.84 million in 2024 and is expected to reach US$11,237.22 million by 2032, growing at a CAGR of 7.0% during the forecast period 2025-2032.

Europe (including Ukraine) saw a 1.5% rise to 6.09 million tons, the US increased output by 6.9% to 1.95 million tons, and Asia (excluding China and South Korea) grew 6.4% to 7.32 million tons. China led with 39.44 million tons, up 7.5%, underscoring Asia's dominance.

Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID):- https://datamintelligence.com/download-sample/stainless-steel-wire-and-wire-rod-market?kb

Latest M&A and Investments

Marcegaglia Fagersta Stainless announced a major €100 million (approx. $116.77 million) investment to double production capacity at its Swedish plant by end of 2026, strengthening stainless steel wire rod and bar manufacturing.​

Strategic acquisitions include Kobe Steel, Ltd. acquiring a 25% stake in Kobelco Millcon Steel Co., Ltd., enhancing its wire rod manufacturing capability in Thailand.​

Shyam Metalics and Energy increased stainless steel production capacity by acquiring Mittal Corp., investing ₹7,500 crore over 4-5 years for stainless steel wire rods and rebars expansion.

Key Players:

Nippon Steel Corporation, Aperam S.A., Bansal Wire Industries Ltd., Outokumpu Oyj, Alleima, Walsin Lihwa Corporation, Kobe Steel, Ltd., Tsingshan Holding Group, Yieh Corp, Venus Wires and others.

Key industry Development:

✅ In April 2025, Sweden's Fagersta Stainless partnered with Italy's Danieli to install a new stainless steel blooming mill with a 70,000-ton annual capacity, set to begin operations by late 2026, enhancing product range and flexibility.

✅ In November 2024, Taiwan's Walsin Lihwa approved a $9.15 million investment to build a stainless steel wire rod plant in Morowali Industrial Park, Indonesia, via its subsidiary Walsin Singapore Pte. Ltd. Backed by Mimosa International Limited, the facility will produce 300 series stainless steel wire rods with an annual capacity of 300,000 tons, enhancing Walsin Lihwa's presence in Southeast and South Asia.

✅ In April 2025, India-based Bansal Wire Industries Ltd. launched a new stainless steel wire manufacturing facility in Dadri, Uttar Pradesh, with an initial capacity of 360,000 MTPA, expandable to 600,000 MTPA in the future.

✅ In November 2024, Marcegaglia Fagersta Stainless announced a $116.77 million investment to double stainless steel production at its Fagersta plant, expanding wire rod and bar output to meet growing demand and strengthen its European market position.

✅ India's total finished stainless steel consumption has steadily grown over the past five years with a CAGR of 4.36%. Consumption increased notably from 3.43 million tonnes in 2022-23 to 3.75 million tonnes in 2023-24, reflecting a strong 9.33% year-on-year growth.

✅ In November 2023, Synergy Steels Limited opened a stainless steel wire rod plant in Desula, Rajasthan, with a 150,000 TPA capacity and a $931.8K investment, aiming to cut India's reliance on imports from China and boost local production.

Growth Forecast Projection:

The Global Stainless Steel Wire and Wire Rod Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Stainless Steel Wire and Wire Rod Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Buy Now & Unlock 360° Market Intelligence: https://www.datamintelligence.com/buy-now-page?report=stainless-steel-wire-and-wire-rod-market?kb

Key Segmentation:

By Product: (Stainless Steel Wire Rod, Stainless Steel Wire)

By Distribution Channel: (B2B, B2C)

By Application: (Construction, Automotive, Energy & Power, Industrial, Agriculture, Others)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Stainless Steel Wire and Wire Rod producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Stainless Steel Wire and Wire Rod revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

Get Customization in the report as per your requirements: https://datamintelligence.com/customize/stainless-steel-wire-and-wire-rod-market?kb

Project Hubs

Key stainless steel wire rod production hubs include Sweden's Fagersta, India's multiple expansion projects (e.g., Synergy Steels and Shyam Metalics), and Thailand's Kobelco Millcon Steel plant.​

Technological upgrades focus on automation, precision drawing lines, and quality assurance systems to meet diverse industrial applications including construction rebar, automotive springs, and precision fasteners.

Have any Enquiry of This Report @ https://www.datamintelligence.com/enquiry/stainless-steel-wire-and-wire-rod-market?kb

Regulatory and Trade Actions

✅ The United States reinstated significant tariffs on steel imports under Section 232 of the Trade Expansion Act of 1962, with a 25% tariff on steel imports applied since February 2025 and increased to 50% in June 2025 by Proclamation 10947. For wire rods specifically, the tariff is applied on the total imported value, treating wire rod essentially as steel itself commercially, impacting import costs and pricing in the U.S. market.​

✅ The European Union extended and strengthened anti-dumping and countervailing duties on imports of wire rod products from China and other countries, including a 24% ad valorem duty and further safeguard measures in 2025. These measures aim to protect the domestic steel industry from "low-cost" imports and overcapacity issues. The EU also proposed reducing duty-free import volumes by 47% and increasing tariffs on volumes exceeding quotas to 50% to better guard domestic producers.​

✅ India continues leveraging the Production-Linked Incentive (PLI) Scheme for Specialty Steel promoting domestic manufacturing of steel wires and rods with incentives to reduce import dependence and grow industry competitiveness.​

✅ A tariff rationalization trend is observed where increased duties on finished wire products are balanced by reduced tariffs on critical raw materials like high-carbon wire rods to manage costs for manufacturers and maintain supply chain health.​

✅ The Steel Import Monitoring System (SIMS) in India aims to curb sudden import surges providing regulatory oversight that affects market supply and demand dynamics.​

Raw material price volatility, especially nickel and chromium, continues to influence stainless steel wire rod production cost structures and global supply chain stability

Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights all in one place.

Have a look at our Subscription Dashboard: https://www.youtube.com/watch?v=x5oEiqEqTWg

Contact Us -

Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -

DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.