Wire Rods Market – Overview
Wire rods are hot rolled and steel products manufactured from raw material known as billet. These wire rods undergo long processing such as heat treatment and wire drawing to take the end-product shape. As years progress, manufacturers are increasingly working on reducing the processing cost involved in this long processing of wire rods. Wire rods are made with round, square, rectangular or other cross sections. These wire rods are wound together and are traded in such tight wound packaging. Before the steel strapping is done, the wire rod must be adequately compacted. The strapping is fixed in the crosswise direction with a sole circumferential strap to avoid sliding down of the packing. These rods are handled with caution due to the sensitivity to mechanical damage.
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The wire rods are correctly handled by particular handling and slinging equipment such as cross bars, chain slings, webbing slings, C hooks etc. to avoid damages. Wire rods are distorted when lifted with extreme force which is unfavorable to additional processing. Manufacturers focus on producing these wire rods with high dimensional quality and precision. Additionally, players focus on latest technologies to assure high degree of thermodynamic properties. To achieve finer quality in production, manufacturers of wire rods have installed advanced automated production facilities in their production houses. Along with that, players focus on coil reforming technology to ensure that the wire rods are shipped to the destination without any damage.
Wire Rods Market – Drivers and Restraints
Globally, around 1350 million tons of steel are manufactured in a year. The expansion of manufacturing activities especially in developing countries drives the demand for wire rods across diverse applications. Additionally, rising construction activities and infrastructural development drives the sales of different types of wire rods. Increasing production of industrial fasteners calls for higher production of wire rods. On the other hand, price fluctuation in this industry is a challenging factor in the global wire rods industry. Mass supply of low quality end-products manufactured from low grade wire rods is another challenge to high quality wire rod suppliers. Government initiatives in developing countries, such as ‘Make in India,’ are offering opportunities for more players to enter new businesses or broaden their existing business.
Wire Rods Market – Segmentation
The global wire rods market is segmented on the basis of diameter, material, packaging, application, and region. Based on diameter, the global wire rods market is segmented as up to 5 mm, 6-10 mm, 11-15 mm, 16-20 mm, and above 20 mm. In terms of material, the global wire rods market is segmented as steel, aluminum, iron, and others. There are different types of packaging for wire rods such as exposed packaging, end-pad packaging, outer packaging, total packaging, and wrapping packaging across the globe. The diverse application areas of wire rods are automotive, construction, industrial, machinery, etc. amongst others. In terms of region, the global wire rods market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Wire Rods Market – Key Players
Some of the top manufacturers profiled under the global wire rods market are Kaiser Aluminium, Baotou Aluminium (Group) Co., Ltd., UC Rusal, Southwire Company, LLC, Hydro and Sapa, Vimetco N.V., Ducab Aluminium Company, Shagang Group, ArcelorMittal S.A., EVRAZ PLC, Metalurgica Gerdau S.A., and Fagersta Stainless amongst others. U.S. players in this industry witness a volatile wire rods market owing to supply chain and scrap-related market dynamics. On the other hand, both the northern and southern European region had stable price in mesh quality wire rods in the year 2018 due to good demand. Billet demand in Southeast Asian countries remains stagnant owing to lesser demand for semi-finished products.
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