Middle East & Africa Steel Wire Market research Report, 2029
The Middle East & Africa Steel Wire Market is segmented into By Form (Non-rope and Rope), By Grade (Carbon Steel, Alloy Steel and Stainless Steel), By End-use Industry (Construction, Automotive, Energy, Agriculture and Others) and By Thickness (< 0.02 mm, 0.02 mm to 0.1 mm, 0.1 mm to 0.5 mm, 0.5 mm to 1.6 mm and 1.6 mm & above).
- Actual Market Research
- 30-11-2024
- Pages : 72
- Figures : 14
- Tables : 22
- Region : MEA
- Category : Manufacturing & Industry
- Electrical Engineering
The MEA steel wire market will add over USD 1.5 Billion (2024–2029), shaped by increasing urbanization and construction investments.
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Largest Market South Africa
- Fastest Market Saudi Arabia
- Market Difference(2024-2029) USD 1.5
- Format
Featured Companies
- 1. Kobe Steel Ltd
- 2. VEKA AG
- 3. Gerdau S.A.
- 4. JFE Holdings, Inc
- 5. Nucor Corporation
- More...
Steel Wire Market Analysis
The Middle East and Africa (MEA) steel wire market plays a crucial role in various industries such as construction, automotive, and manufacturing. Steel wire is an essential component in producing a wide range of products, including cables, wire ropes, and springs, that cater to both industrial and consumer needs. With the region's growing infrastructure developments and urbanization, there has been a steady increase in demand for steel wire, particularly for reinforcing concrete structures and other construction applications. The automotive sector in MEA also contributes significantly to the market, as steel wire is used in the production of components like tires, seat belts, and brake cables. The MEA region is diverse, comprising emerging markets with varying levels of industrialization. Countries like Saudi Arabia, the UAE, and South Africa are leading the charge in industrial growth, while several other nations are experiencing rapid urbanization, boosting demand for steel wire. The market in this region is largely driven by construction projects, expanding manufacturing capabilities, and increased investments in infrastructure. Furthermore, the agricultural sector in some MEA countries also demands steel wire for fencing and other agricultural uses. With the increasing focus on development and industrialization, the MEA steel wire market is positioned to grow, driven by both local consumption and international trade opportunities. According to the research report, "Middle East & Africa Steel Wire Market research Report, 2029," published by Actual Market Research, the Middle East & Africa Steel Wire market is anticipated to add to more than USD 1500 Million by 2024–29. The MEA steel wire market has witnessed several trends shaping its development. A significant trend is the increasing demand for galvanized steel wire due to its corrosion-resistant properties, which make it suitable for use in harsh environmental conditions, such as those found in the Middle East's desert climate. Moreover, the rise of smart manufacturing technologies and automation in production processes has led to improved efficiency and quality control in steel wire manufacturing. In terms of government policies, several MEA countries have introduced initiatives to boost local manufacturing, reduce reliance on imports, and create jobs in the steel industry. For instance, initiatives in Saudi Arabia and the UAE are focused on enhancing local production capabilities, thereby contributing to the growth of the steel wire market. Technological advancements in steel wire production, such as the development of advanced alloy wires, are also reshaping the market. These technologies not only improve the durability of steel wire but also allow for cost-effective production processes, making steel wire more accessible for various industries. While the market is highly fragmented, some key players dominate the MEA steel wire sector, with regional suppliers and global companies establishing a strong presence. Saudi Arabia, in particular, has a well-established steel industry, with major players contributing to both regional and international markets. As the demand for steel wire continues to grow, these companies are positioned to benefit from increasing construction, infrastructure, and automotive needs across MEA.
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Download SampleMarket Dynamic
Market Drivers • Increased Demand from the Automotive Industry: The automotive sector in the MEA region has been expanding steadily, with increased production and demand for vehicles. Steel wire is essential in automotive manufacturing, particularly in the production of components like brake cables, suspension systems, and seat belts. As the automotive industry grows in countries like South Africa, Egypt, and the UAE, it directly drives the demand for steel wire. With a larger consumer base and growing automotive production, the market for steel wire in automotive applications continues to thrive. Market Challenges • Limited Recycling Capabilities: While many countries are focusing on sustainability, the limited recycling capabilities in some MEA regions present a challenge to the steel wire market. The lack of adequate recycling infrastructure leads to reliance on new raw materials, which increases costs and contributes to environmental concerns. The adoption of better recycling methods could reduce dependence on virgin materials, but the current limitations hinder market growth and affect the overall supply chain. Market Trends • Automation in Steel Wire Manufacturing: Manufacturers in the MEA region are adopting automation and advanced technologies in their steel wire production processes. Automation in wire manufacturing not only improves production efficiency but also ensures better precision and quality control. As global competition intensifies, steel wire producers are turning to automated systems to reduce costs, improve output, and enhance product consistency, marking a significant trend in the market’s evolution.
Steel Wire Segmentation
| By Form | Non- Rope | |
| Rope | ||
| By Grade | Carbon Steel | |
| Stainless Steel | ||
| Alloy Steel | ||
| By End-use Industry | Construction | |
| Automotive | ||
| Energy | ||
| Agriculture | ||
| Others | ||
| By Thickness | <0.02mm | |
| 0.02 mm to 0.1 mm | ||
| 0.1 mm to 0.5 mm | ||
| 0.5 mm to 1.6 mm | ||
| 1.6 mm & above | ||
| MEA | United Arab Emirates | |
| Saudi Arabia | ||
| South Africa | ||
The "Non-Rope" form and "Carbon Steel" grade of steel wire are among the most leading segments in the MEA steel wire market due to their wide range of applications and inherent advantages. The "Non-Rope" form and "Carbon Steel" grade of steel wire are among the most leading segments in the MEA steel wire market due to their wide range of applications and inherent advantages. Non-rope steel wire, as opposed to rope form, is highly favored for its versatility and is primarily used in manufacturing applications such as reinforcement for concrete, springs, and electrical conductors. The demand for non-rope steel wire is steadily rising in the construction, automotive, and manufacturing sectors, particularly in regions undergoing significant infrastructural development, such as the Middle East. Carbon steel, a popular grade of steel wire, is widely recognized for its excellent tensile strength, durability, and cost-effectiveness. In the MEA region, carbon steel’s properties make it ideal for high-demand industries like construction, automotive, and engineering. The material’s ability to withstand harsh environmental conditions, such as high temperatures and corrosion, is a crucial factor, especially in the extreme climates found in the Middle East and North Africa. Furthermore, carbon steel is relatively easy to process and fabricate, allowing manufacturers to create customized steel wire solutions for a range of applications. This combination of versatility and durability drives the growth of non-rope and carbon steel segments, making them the leading choice for many industries in the region. As urbanization and infrastructure projects continue to rise in MEA countries, the demand for non-rope carbon steel wire is expected to grow, further solidifying its position as a market leader in the region’s steel wire industry. The "Construction" industry and the thickness range of "0.5 mm to 1.6 mm" are among the most prominent segments in the MEA steel wire market. The "Construction" industry and the thickness range of "0.5 mm to 1.6 mm" are among the most prominent segments in the MEA steel wire market. The construction sector is the largest consumer of steel wire, particularly for reinforcement purposes. With the region experiencing rapid urbanization and significant infrastructure investments, the demand for steel wire in construction projects continues to soar. Steel wire is crucial in reinforcing concrete, providing structural stability to buildings, bridges, roads, and other critical infrastructure. Its essential role in ensuring the durability and safety of construction projects makes it an indispensable component of the sector. The thickness range of 0.5 mm to 1.6 mm is highly preferred due to its adaptability to various construction applications. Steel wire in this thickness range is ideal for producing wire mesh, nails, and other reinforcing materials used in building structures. It strikes the perfect balance between flexibility and strength, making it a versatile choice for contractors and builders. Furthermore, the construction industry's growing demand for durable and corrosion-resistant materials enhances the attractiveness of steel wire within this thickness range. With numerous ongoing and upcoming construction projects across the Middle East and Africa, including large-scale infrastructure initiatives and residential developments, the construction sector remains a significant driver for steel wire consumption. As the region continues to invest in modernization and urbanization, the demand for steel wire in the 0.5 mm to 1.6 mm thickness range is projected to grow, securing its position as a leading segment in the MEA market.
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Steel Wire Market Regional Insights
South Africa stands as the leading country in the MEA steel wire market, largely due to its advanced industrial capabilities, strong infrastructure development. South Africa stands as the leading country in the MEA steel wire market, largely due to its advanced industrial capabilities, strong infrastructure development, and strategic positioning as a manufacturing hub. The country's steel industry is one of the most well-established in the region, with a robust manufacturing base that has consistently supported a wide range of industries, including construction, automotive, and mining. South Africa's steel production infrastructure is well-developed, and the availability of high-quality raw materials like iron ore and coal further strengthens its position in the market. One of the main drivers of South Africa's dominance in the steel wire market is its rapidly growing construction sector. As the country continues to urbanize and expand, there is a constant demand for steel wire used in the reinforcement of concrete and other construction applications. Major infrastructure projects, such as road networks, bridges, and residential complexes, require vast amounts of steel wire, contributing to the market’s growth. South Africa's role in the African infrastructure boom solidifies its leading position as a supplier and manufacturer of steel wire. The automotive industry in South Africa also plays a pivotal role in the steel wire market. The country's automotive manufacturing plants are major consumers of steel wire for applications such as seatbelts, suspension systems, and brake cables. Furthermore, South Africa has emerged as a key player in mining, where steel wire is used in applications such as drilling, suspension, and lifting equipment. In addition, South Africa’s proactive approach to industrial development, supported by government policies promoting manufacturing and export, bolsters its standing in the MEA steel wire market. The country’s competitive pricing, high production capacity, and strong industrial base have positioned it as the leading steel wire market player in the MEA region, with a growing footprint in both local and international markets.
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Companies Mentioned
- Kobe Steel Ltd
- VEKA AG
- Gerdau S.A.
- JFE Holdings, Inc
- Nucor Corporation
- NSK Ltd.,
- JSW Steel Limited
Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Steel Wire Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size By Volume
- 5.4. Market Size and Forecast, By Form
- 5.5. Market Size and Forecast, By Grade
- 5.6. Market Size and Forecast, By End-use Industry
- 5.7. Market Size and Forecast, By Thickness
- 6. Market Dynamics
- 6.1. Market Drivers & Opportunities
- 6.2. Market Restraints & Challenges
- 6.3. Market Trends
- 6.3.1. XXXX
- 6.3.2. XXXX
- 6.3.3. XXXX
- 6.3.4. XXXX
- 6.3.5. XXXX
- 6.4. Covid-19 Effect
- 6.5. Supply chain Analysis
- 6.6. Policy & Regulatory Framework
- 6.7. Industry Experts Views
- 7. Middle East & Africa Steel Wire Market Outlook
- 7.1. Market Size By Value
- 7.2. Market Share By Country
- 7.3. Market Size By Volume
- 7.4. Market Size and Forecast, By Form
- 7.5. Market Size and Forecast, By Grade
- 7.6. Market Size and Forecast, By End-use Industry
- 7.7. Market Size and Forecast, By Thickness
- 7.8. UAE Steel Wire Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By Form
- 7.8.3. Market Size and Forecast By Grade
- 7.8.4. Market Size and Forecast By End-use Industry
- 7.9. Saudi Arabia Steel Wire Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Form
- 7.9.3. Market Size and Forecast By Grade
- 7.9.4. Market Size and Forecast By End-use Industry
- 7.10. South Africa Steel Wire Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Form
- 7.10.3. Market Size and Forecast By Grade
- 7.10.4. Market Size and Forecast By End-use Industry
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. ArcelorMittal S.A.
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. JFE Steel Corporation
- 8.5.3. Nippon Steel Corporation
- 8.5.4. N.V. Bekaert S.A.
- 8.5.5. Voestalpine AG
- 8.5.6. KOBE STEEL, LTD.
- 8.5.7. POSCO
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Steel Wire Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 6: Global Steel Wire Market Size and Forecast, By Grade (2018 to 2029F) (In USD Billion)
Table 7: Global Steel Wire Market Size and Forecast, By End-use Industry (2018 to 2029F) (In USD Billion)
Table 8: Global Steel Wire Market Size and Forecast, By Thickness (2018 to 2029F) (In USD Billion)
Table 9: Influencing Factors for Steel Wire Market, 2023
Table 10: Middle East & Africa Steel Wire Market Size and Forecast, By Form (2018 to 2029F) (In USD Billion)
Table 11: Middle East & Africa Steel Wire Market Size and Forecast, By Grade (2018 to 2029F) (In USD Billion)
Table 12: Middle East & Africa Steel Wire Market Size and Forecast, By End-use Industry (2018 to 2029F) (In USD Billion)
Table 13: Middle East & Africa Steel Wire Market Size and Forecast, By Thickness (2018 to 2029F) (In USD Billion)
Table 14: United Arab Emirates Steel Wire Market Size and Forecast By Form (2018 to 2029F) (In USD Billion)
Table 15: United Arab Emirates Steel Wire Market Size and Forecast By Grade (2018 to 2029F) (In USD Billion)
Table 16: United Arab Emirates Steel Wire Market Size and Forecast By End-use Industry (2018 to 2029F) (In USD Billion)
Table 17: Saudi Arabia Steel Wire Market Size and Forecast By Form (2018 to 2029F) (In USD Billion)
Table 18: Saudi Arabia Steel Wire Market Size and Forecast By Grade (2018 to 2029F) (In USD Billion)
Table 19: Saudi Arabia Steel Wire Market Size and Forecast By End-use Industry (2018 to 2029F) (In USD Billion)
Table 20: South Africa Steel Wire Market Size and Forecast By Form (2018 to 2029F) (In USD Billion)
Table 21: South Africa Steel Wire Market Size and Forecast By Grade (2018 to 2029F) (In USD Billion)
Table 22: South Africa Steel Wire Market Size and Forecast By End-use Industry (2018 to 2029F) (In USD Billion)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Steel Wire Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Steel Wire Market Share By Region (2023)
Figure 6: Global Steel Wire Market Size By Volume (2018, 2023 & 2029F) (in kilo tonn)
Figure 7: Middle East & Africa Steel Wire Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 8: Middle East & Africa Steel Wire Market Share By Country (2023)
Figure 9: Middle East & Africa Steel Wire Market Size By Volume (2018, 2023 & 2029F) (in kilo tonn)
Figure 10: UAE Steel Wire Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Saudi Arabia Steel Wire Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: South Africa Steel Wire Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Competitive Dashboard of top 5 players, 2023
Figure 14: Porter's Five Forces of Global Steel Wire Market
Steel Wire Market Research FAQs
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