Steel Wire Market Size

Steel Wire Market size was over USD 125.48 billion in 2024 and is poised to reach USD 365.06 billion by the end of 2037, growing at around 8.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of steel wire is assessed at USD 134.11 billion. The growth of the market can be attributed to the increasing demand for steel wires for different applications such as mining industry. This growth is owing to the presence of steel wire in every step of the mining process. Therefore, it is predicted to rise the growth of the market. 

Furthermore, steel wire is also valuable in commercial, industrial, and military uses, such as cleaning, spring-loaded devices, reinforcement, structural integrity, and even music production. However, not all wire can be utilized for anything. Steel wire is produced in a variety of strengths, elasticity, and thicknesses for a variety of applications. Therefore, all these factors are expected to provide opportunities for the growth of the market.