Jun 29, 2025IndexBox has just published a new report: China – Iron and Steel Wire – Market Analysis, Forecast, Size, Trends and Insights.The demand for iron and steel wire in China is on the rise, leading to a predicted upward consumption trend in the market. With a projected CAGR of +1.6% in market volume and +2.8% in market value from 2024 to 2035, the market is anticipated to reach 16 million tons and $21.6 billion respectively by the end of 2035.Market ForecastDriven by increasing demand for iron and steel wire in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market volume to 16M tons by the end of 2035.In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market value to $21.6B (in nominal wholesale prices) by the end of 2035.ConsumptionChina’s Consumption of Iron and Steel WireAfter two years of decline, consumption of iron and steel wire increased by 3.5% to 14M tons in 2024. The total consumption volume increased at an average annual rate of +1.6% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Iron and steel wire consumption peaked at 14M tons in 2019; however, from 2020 to 2024, consumption stood at a somewhat lower figure.The size of the iron and steel wire market in China dropped to $15.9B in 2024, reducing by -8.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, the total consumption indicated modest growth from 2013 to 2024: its value increased at an average annual rate of +1.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -36.2% against 2022 indices. Iron and steel wire consumption peaked at $25B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.ProductionChina’s Production of Iron and Steel WireIron and steel wire production in China reduced modestly to 16M tons in 2024, approximately reflecting the previous year’s figure. The total output volume increased at an average annual rate of +1.5% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at 16M tons in 2019; however, from 2020 to 2024, production remained at a lower figure.In value terms, iron and steel wire
