New York, Feb. 19, 2026 (GLOBE NEWSWIRE) — A recent in-depth market research report, published by The Insight Partners, forecasts a significant growth in the Global Steel Wire Rods Market. The market is expected to expand from a valuation of US$ 94.22 billion in 2024 to an impressive US$ 125.48 billion by 2031. This growth, representing a Compound Annual Growth Rate (CAGR) of 4.3%, is projected for the period from 2025 to 2031.
Key Market Growth Factors: The US market is experiencing a sustained demand due to automotive and infrastructure projects, including federal programs, in response to the rising residential housing needs.
Expansion Opportunities: The reshoring initiative under the IRA/CHIPS Act is opening up capacity investments in North America. The industrialization in the Asia-Pacific region presents export growth opportunities for premium rods. Furthermore, innovations in Green steel are attracting premium pricing in eco-focused segments.
Future Trends: The adoption of high-strength wire for EV battery enclosures is on the rise in the automotive sector. Sustainable low-carbon production is gaining momentum under US policies. The Asia-Pacific region holds the largest volume share, driven by urbanization and industrial output.
Key Market Segment: The construction sector remains dominant, while the IT and telecom sectors exhibit the highest CAGR (41.33%).
For more detailed insights on the Steel Wire Rods Market, a sample PDF of the report is available at https://www.theinsightpartners.com/sample/TIPRE00042053
The consumption of steel wire rods for tire cords, springs, and fasteners is witnessing a rapid increase due to the reshoring of US manufacturing under the influence of the CHIPS Act and IRA. The demand for strong wire reinforcements is growing in domestic semiconductor fabs and battery giga factories. Carbon steel grades constitute 60% of EV structural components, backed by $52B incentives until 2030.
Post-2025, hybrids and advanced ICE trucks are expected to dominate, boosting the demand for cold-heading quality rods for high-strength bolts in Ford’s $4B plants and GM’s V8 upgrades. The usage of tire cord is projected to surge by 10% annually as radial designs for 40-inch rims require 0.8mm high-carbon wires.
The market growth is being fueled by ongoing innovations in metallurgical techniques and manufacturing methods. The transformation of steel plants through digitization, with the aid of Industry 4.0 tools such as predictive analytics, IoT-based sensors, and smart process controls, has been instrumental. These tools not only significantly improve energy efficiency but also aid in waste reduction and consistent product performance production.
Producers can leverage these advancements to meet the growing demand for high-grade and specialty wire rods, which are increasingly being used in the aerospace, automotive, construction, and energy sectors. Additionally, automated coil handling, quality inspection systems, and robotic assembly enable labor cost reduction and enhancement of safety standards.
By adopting cutting-edge production technologies, companies can progress along different segments of the value chain, thereby increasing their profits and competitive edge. New technologies like hydrogen-based steelmaking and electric arc furnace modernization offer significant benefits.
