Mirror of the Markets: news from the ferrous and non-ferrous wire industry
In the sixth chapter of Mirror of the Markets, Expometals.net delves into the world of ferrous and non-ferrous wires, examining how the two categories differ in production, demand, and technological evolution.
Mirror of the Markets is the bimonthly column authored by Dipl.-Ing. Konrad Dengler—engineer and technical journalist. This market analysis brings you a fresh look at sector-specific shifts, key drivers, and regional developments, helping you decode ongoing changes and strategic opportunities for staying competitive in the global wire market.
What is wire and how is it made? Definition, materials, and applications
Wires are flexible cylindrical metal bars with an extremely long length compared to their diameter. In most cases, wires have a round cross-section. There are, however, also shaped wires.
Wire is typically made from wire rod, produced through continuous casting and hot rolling. Common diameters include 8–10 mm for copper, 9.5–12 mm for aluminum, and 5.5–30 mm for steel. The rod is drawn through dies at room temperature or cold rolled in order to reduce its diameter and improve strength. It is then wound onto spools for further processing.
The largest wire markets are the steel wire, copper wire and aluminum wire markets.
Steel wire industry overview
Steel wires are typically classified into three main segments: carbon steel, stainless steel, and alloy steel wires. Each type offers distinct properties such as high-strength, elasticity, and ductility. Other characteristics include hardness, shock and wear resistance, and – depending on the chemical composition – rust and corrosion resistance.
Typical products made from steel wires are reinforcements, wire ropes, barbed wire, fences, fastening elements, technical springs, bent parts, mesh displays, woven wire cloth, as well as needles or ball bearings.
Market surveys give a sense of the market size. The market research company DataM Intelligence, for example, valued the size of the global steel wire rod and wire market at nearly USD 138 billion in 2024 and expects it to reach USD 226.5 billion in 2032, growing at a CAGR of 6.5% during the period from 2025 to 2032. Research and Markets, one of the competitors, valued this market at USD 123.5 billion in 2024 and projected it to reach USD 186 billion by 2030, growing at a CAGR of 7.1% from 2024 to 2030. Both surveys were published in May 2025.
What is driving demand in the steel wire market?
Global steel wire demand is on the rise, driven by rising urbanization in many parts of the world, infrastructure upgrades, new infrastructure projects in residential and commercial sectors, as well as the expansion of the energy sector.
Steel wire rods, for example, are essential for reinforcing concrete structures, ensuring stability and durability. Steel wires are also used in manufacturing steel core wires for overhead power transmission lines. In the automotive industry, steel wire is indispensable for manufacturing components such as technical springs, fasteners, cables, and to reinforce tire beads.
Additionally, electric vehicles (EVs) need steel wire in electrical grounding systems and battery harnesses, which are used approximately three times more in EVs compared with conventional internal combustion engine (ICE) vehicles.
Technological advances in steel wire production
The continuing trend towards lighter, more fuel-efficient vehicles is prompting the wire industry to seek materials that provide high strength without adding significant weight. Innovations in alloy composition and improved manufacturing processes are also expanding the applications of steel wire.
Copper wire market trends
Copper is characterized by a high electrical conductivity, advantageous mechanical properties, and corrosion resistance. A large part of copper wires is processed into conductors and cables for the transmission of electrical energy and electronic data.
The global copper wire market was valued at over USD 175 billion in 2023, according to SkyQuest. It is expected to grow from nearly USD 189 billion in 2024 to USD 296 billion by 2032, registering a compound annual growth rate (CAGR) of 6% during the 2025–2032 forecast period.
Why is copper wire demand increasing globally?
The copper wire market is growing mainly due to the worldwide increasing demand for electricity from renewable energy sources. The implementation of smart grids and data centers, the expansion of railway infrastructure, construction projects with HVAT and elevator systems have created further need for copper wires. EVs need considerably more copper wires than conventional ICE vehicles.
Technological trends and innovations in copper wire manufacturing
The current focus of technical development is on copper alloy wires that offer an improved balance of electrical conductivity and mechanical strength. At the same time, interest in copper wire recycling and circular economy principles is steadily increasing.
The aluminum wire sector outlook
Aluminum wire is characterized by its lightweight nature, a good electrical conductivity, and advantageous mechanical properties. A large part of aluminum wires is processed into electrical conductors and cables.
The global aluminum wire market size was valued by Global Market Insights GMI at USD 63 billion in 2023 and is expected to grow at 3.4% CAGR from 2024 to 2032.
What are the market drivers for aluminum wire demand?
Aluminum wire is widely used in overhead power lines and distribution networks. In the automotive sector, the shift toward lighter components—motivated by fuel efficiency and emissions targets—is boosting demand for advanced aluminum wiring. The growth of electric vehicles further amplifies this need, highlighting the importance of high-performance materials for drivetrains and battery systems.
Emerging technologies in aluminum wire
Future trends point toward the integration of smart features—such as embedded sensors and IoT capabilities—into aluminum wire products, enabling improved monitoring, diagnostics, and operational efficiency.
Outlook for the global wire industry
The global wire industry, spanning both ferrous and non-ferrous segments, is positioned for steady growth across core end-use sectors. Key drivers include a surge in construction activity, demand from the automotive industry, and increased global electricity consumption. These trends are further reinforced by broader developments such as urbanization, renewable energy deployment, and the expansion of digital infrastructure.
In response, manufacturers face growing pressure to innovate—both in materials and processing methods—and to embrace sustainable practices. Advancements in alloy design, wire manufacturing technologies, and circular economy models are becoming pivotal. Companies that invest in flexibility and efficiency will be better prepared to navigate regulatory shifts and capitalize on emerging market opportunities, even amid a highly competitive global context, also marked by overproduction in Asian countries and regulatory challenges: think of the issue of tariffs.
Latest market reports on steel and non-ferrous wires
The following list does not claim to be exhaustive
Steel Wire Rod and Wire Market 2025-2032.
https://www.datamintelligence.com/download-sample/steel-wire-rod-and-wire-market
Report: Global Steel Wire Market 2025.
https://www.researchandmarkets.com/reports/338733/steel_wire_global_strategic_business_report?
Steel Wire Market Size, Share & Industry Analysis...
https://www.fortunebusinessinsights.com/steel-wire-market-102581
Steel Wire Global Market Report 2025.
https://www.giiresearch.com/report/tbrc1674003-steel-wire-global-market-report.html
Steel Wire Market: Global Industry Analysis...
https://www.maximizemarketresearch.com/market-report/global-steel-wire-market/117044/
Steel Wire Global Market Report 2025...
https://www.thebusinessresearchcompany.com/report/steel-wire-global-market-report
Comprehensive Analysis of the Steel Wire Market 2025-2034.
https://blog.tbrc.info/2025/03/steel-wire-market/
Global Copper Wire Market.
https://www.skyquestt.com/report/copper-wire-market
Copper Wire Market 2024.
https://www.researchandmarkets.com/report/copper-wire
Copper Wire Market Analysis, Size, and Forecast 2025-2029.
https://www.technavio.com/report/copper-wire-market-analysis
Structural Copper Wire Market Size...
https://www.gminsights.com/industry-analysis/structural-copper-wire-market
Aluminium Wire Market Size...
https://www.gminsights.com/industry-analysis/aluminum-wire-market
Aluminium Wire Market Size...
https://www.grandviewresearch.com/industry-analysis/aluminum-wire-market
Aluminum Wire Market.
https://dataintelo.com/report/global-aluminum-wire-market
Aluminum Wires Market by...
https://www.researchandmarkets.com/report/aluminum-wire
To gain a broader perspective on the metalworking sector, readers are encouraged to explore the previous editions of Mirror of the Markets. Past issues have covered Bars & Profiles, Tubes & Pipes, Wire & Cables, Sheet Metal, and Fasteners industries—each offering insights into market dynamics, technological evolution, and application trends across the supply chain.
Stay tuned for more episodes of ”Mirror of the Markets”. The next installment will explore the Technical Springs Industry, offering valuable insights into its market trends and developments.
