Jun 24, 2025IndexBox has just published a new report: World – Iron or Steel Wire Products – Market Analysis, Forecast, Size, Trends And Insights.The global market for iron or steel wire products is set to experience steady growth in both volume and value terms from 2024 to 2035. With a projected CAGR of +1.0% for volume and +2.3% for value, the market is expected to meet rising demand and reach significant milestones by the end of the forecast period.Market ForecastDriven by rising demand for iron or steel wire product worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market volume to 7.1M tons by the end of 2035.In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2024 to 2035, which is projected to bring the market value to $24.9B (in nominal wholesale prices) by the end of 2035.ConsumptionWorld’s Consumption of Iron or Steel Wire ProductsIn 2024, global consumption of iron or steel wire products declined slightly to 6.3M tons, flattening at 2023. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 6.8% against the previous year. Global consumption peaked at 7.1M tons in 2018; however, from 2019 to 2024, consumption remained at a lower figure.The revenue of the market for iron or steel wire products worldwide skyrocketed to $19.4B in 2024, rising by 16% 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). The market value increased at an average annual rate of +1.5% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.Consumption By CountryThe countries with the highest volumes of consumption in 2024 were China (1.4M tons), the United States (759K tons) and India (548K tons), together comprising 42% of global consumption. Russia, Brazil, Pakistan, Indonesia, Germany, Mexico and Turkey lagged somewhat behind, together accounting for a further 27%.From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Pakistan (with a CAGR of +1.8%), while consumption for the other global leaders experienced more modest paces of growth.In value terms, the United States ($6.9B) led the market, alone. The second position in the ranking was taken by China ($2.3B). It was followed by Germany.In the United States, the iron or steel wire product market expanded at an average
